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Stipulation for Settlement

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  • 12-05-2013, 12:28 PM
    Mike91001
    Stipulation for Settlement
    My question involves collection proceedings in the State of California:

    In 2009, I gave a personal loan for $10,000 (plus nominal interest) to a friend. She was supposed to begin payments a year after the loan, following a divorce settlement in which she was supposed to receive alimony plus child support.
    To date, I haven't received a penny.
    After several conversations with her, I contacted a lawyer and he recommended I enter into a "Stipulation for Settlement". This is how it reads:

    Stipulation for Settlement

    It is hereby stipulated by and between plaintiff ________ and defendant ________ through their respective counsel, that the case has been settled pursuant to Code of Civ. Proc. 664.6 on the following terms: for the sum of $10,000, plus $3,000 in attorneys' fees, payable by defendant to plaintiff upon entry of judgment. Plaintiff agrees to forego its right to collect pre-judgment costs from defendant, but nothing shall prohibit plaintiff from exercising its right to collect post-judgment costs from defendant. The parties request that the court retain jurisdiction over them to enforce the settlement until performance in full of its terms.

    The case has settled.
    Disposition
    The court orders case dismissed without prejudice.

    Entered: Oct 1, 2012

    I have spoken to her since and she claims she doesn't have any money. And, yet, the last time I saw her she was driving a new car.

    My question is what do you recommend I do at this point? Is this Stipulation for Settlement useless if she keeps claiming she has no money?
    Thanks for any responses!
  • 12-07-2013, 11:36 AM
    Mr. Knowitall
    Re: Stipulation for Settlement
    If you want to try to collect on the judgment you can consider holding a creditor's exam, seeking wage garnishment if she's employed, or taking whatever other steps you believe might result in your collecting the money. There are tips here for small claims court, but they should be useful.
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