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I, ___________________, (“Debtorâ€) hereby agree for judgment against me for $_________ as of today, ____________, to ______________ (“Creditorâ€). I, Debtor, do further agree not to protest any collections efforts, in any Court of law or otherwise, against me for this amount of money, plus accrued interest, and any legal fees, by Creditor, its successors or assigns.
I further agree, not to protest any attachments to any property I own directly or indirectly, in any Court of law or otherwise, for $___________ (“Judgment Amountâ€) plus accrued interest and any legal fees incurred by Debtor, its successors or assigns.
This Agreement for Judgment arises out of my default on a Note or Notes for $________, plus accrued interest and legal fees, due on _____________.
I, Debtor, do agree to this Agreement for Judgment without any reservations and in consideration of immediate forbearance, for 10 days, on collection for my Note in Default to Creditor. Creditor does hereby agree to accept this Agreement for Judgment in return for Debtors Agreement to permit entry of a Judgment for the above amount in a Court of competent jurisdiction immediately.
A copy of the original Note or Notes is (are) attached.
______________________
Debtor
______________________
Creditor
______________________
Date
Enc. Copy or copies of the Note or Notes outstanding.
Agreement for Judgment, with DebtorReview List
This review list is provided to inform you about this document in question and assist you in its preparation. This Agreement for Judgment should be used by a Creditor with a Debtor after the Default date under a note has passed. The Creditor benefits by getting the Debtor to waive any contest of the note; the Debtor gains by getting an extention of the collection process; both parties win by cutting down on their legal expenses.
Creditors are advised to move more carefully in the collection process in order to increase the commitment of the Debtor to repayment. This helps a well intentioned Debtor by providing more time; it assists the Creditor by eliminating legal hurdles to perfecting their interests in the assets of the Debtor.
If the Debtor will not sign the Agreement, then move instantly to formal foreclosure for judgment in the appropriate court of law. You should seek legal counsel to execute these tasks and assist in collecting the outstanding judgment, interest, and legal costs due under the original note.
1. Both parties should sign the Agreement. Creditor should maintain the file and keep the originals.
What else can I help you with?
How do you avoid a judgment?
If the judgment is valid it can be executed by the judgment holder in the manner prescribed by the laws of the state in which the judgment debtor resides. The only action available to avoid a lawsuit judgment is to reach an agreement with the creditor for repayment of the debt.
When judgment entered against debtor is creditor held to any oral settlement agreement to pay off debt made between debtor and creditor?
Not unless it is in writing unfortunatly.
Does the debtor have to be notified of a writ of judgment?
A debtor does have to be notified of a writ of judgment. The debtor is often notified before the court hearing takes place.
Who is the grantor in an abstract of judgment?
In an abstract judgment the grantor is the judgment creditor. The grantee of the abstract judgment is the judgment debtor.
Does a judgment appear on the judgment debtor's credit report?
Generally, yes
Can a credit card company put lien on your property in California?
Yes, if the lender sues the debtor and receives a judgment award, the judgment can be executed against personal or real property owned by the judgment debtor.
What should you do if a judgment is 6 and a half years old and you do not know if it will be renewed?
A judgment creditor seldom lets a judgment lapse. That would mean the entire process of filing a lawsuit and being granted a judgment wasted effort. The only option of the debtor is to pay the judgment amount or reach a settlement agreement of some type with the judgment holder.
Are you required to appear in court before your wages can be garnished?
No, the defendant (debtor) does not have to appear at the date of the hearing. A non appearance usually results in a default judgment being entered against the debtor. The debtor will receive a notice of final judgment before the judgment creditor can take steps to have the judgment executed.
Is a lien by a creditor placed on the debtor or the debtor's attorney?
The creditor will execute the judgment against the debtor's non exempt assets or property not the debtor's legal counsel. On the debtor.
What can you do if something was added to a stipulation and judgment after you signed it?
Take To Civil Court. Take This To Your County Attorney Discuss This With Him. GOOD LUCK * Judgments are not signed by the defendant/debtor unless what is being referred to is the Acknowledgement of Satisfaction Judgment. If an agreement was signed to settle or pay in full a judgment and the agreement was altered without the participation of the debtor, then the agreement is null and void. If the defendant believes an agreement has been altered he or she should seek legal counsel. Court clerks, judges, state attorneys will not assist the defendant with such a matter other than referring the person to private attorneys or legal aid organizations that accept persons who have limited financial resources.
What is a restraining notice to judgment debtor?
A restraining notice to a judgment debtor is a legal document typically issued by a court that prohibits the debtor from transferring or disposing of certain assets, pending resolution of the debt owed to the creditor. It essentially freezes the debtor's assets to prevent them from being moved or hidden to avoid payment of the judgment.
What is abstract of judgment?
An abstract of a judgment would be a brief statement summarizing the important points of the judgment.
