If I sign an Agreed Judgement will it be put on my credit report?

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If I sign an Agreed Judgement will it be put on my credit report?

A debt collector has filed suit against me for a medical bill. They want me to sign an Agreed Judgement ASAP. The court date is next month. They are unwilling to negotiate payment amounts and want $400 per month. They told me that if I don’t accept, my wages will be garnished for more when I go to court. With a son about to start college, I really do not want this on my credit report. It is clean except for this. Do I have any options?

Asked on June 28, 2011 under Bankruptcy Law, Indiana

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Of course they do.  And let me tell you it probably already is on your credit report.  First let me ask you: have you filed an answer to the complaint?  You need to do that as soon as you possibly can.  You also need to play a little hard ball with the customer service people that you are speaking with and believe me, that is who you are speaking with when you call.  Be aware that the customer serve people have only a limited ability to negotiate but they can get theor supervisors to sign off on things.  Now, you need to call them and let them know that you filed an answer to the complaint.  That also you qualify under the law for the debt reduction program and that you are considering filing for bankruptcy and listing this debt.  That you would prefer to settle the matter and pay it off but that you can not afford to pay $400 a month and that no judge in the world would make you pay that amount if you went before them.  Then see what they say.  If they insist and you want to sign an agreement take it to an attorney to review before hand.  Good luck.


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