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  1. #1
    Join Date
    Aug 2019
    Posts
    1

    Default Making an Offer to Settle Judgement

    My question involves collection proceedings in the State of: Tennessee


    I have a judgment against a former business partner, I also have a wage garnishment against him and he has paid $10k of the $25k plus lawyer fees, interest of 5.5% which would add about $7k+as of now. The garnishment checks change in amounts, the last check was only $36 and they normally average $500 a month total, sometimes more.

    I really need to get my Home HVAC unit replaced and was quoted about $7.5k. Without those checks as steady amounts i can't afford make the extra payments because of this guy which the quote for payments was around $120- $170 a month.

    I would be willing to offer him a deal where he could pay me a lump $8,000 cash or agree to $4,000 by Nov 2019 and $4,000 by Aug. 2020 and I get a new HVAC unit installed in my house ASAP where he is 100% liable for paying for it. If he did not pay, then the company would have to go after his property /wages and not be able to take the unit from me or affect my credit. In exchange i would wave the remainder of the current and future interest along with lawyer fees minus the Unit cost . He would then only have to cover the minimum payments until it's paid off.

    Is that something that could actually be done ?

    how could i make the offer to him ? Ask through the court ?

    I have no lawyer, so i also haven't been able to do a post-judgment discovery in court.

  2. #2
    Join Date
    Jul 2018
    Posts
    1,522

    Default Re: Making an Offer to Settle Judgement

    Quote Quoting CarGuy117
    View Post
    I would be willing to offer him a deal where he could pay me a lump $8,000 cash or agree to $4,000 by Nov 2019 and $4,000 by Aug. 2020 and I get a new HVAC unit installed in my house ASAP where he is 100% liable for paying for it. If he did not pay, then the company would have to go after his property /wages and not be able to take the unit from me or affect my credit. In exchange i would wave the remainder of the current and future interest along with lawyer fees minus the Unit cost . He would then only have to cover the minimum payments until it's paid off.

    Is that something that could actually be done ?
    Legally, sure. However, as a practical matter, no sane HVAC company would agree to it.


    Quote Quoting CarGuy117
    View Post
    how could i make the offer to him ? Ask through the court ?
    I have no idea what "ask through the court" might mean, but you can communicate with the judgment debtor by any means of communication available to you (e.g., by phone, by letter, by email, etc.).

  3. #3
    Join Date
    Oct 2016
    Posts
    3,131

    Default Re: Making an Offer to Settle Judgement

    Why in God's name would an HVAC company basically allow a guy with a judgment to finance your AC?

  4. #4
    Join Date
    Oct 2006
    Posts
    15,497

    Default Re: Making an Offer to Settle Judgement

    I will jump on the bandwagon and say that it's never going to happen. Also, if he stops working the garnishment will stop as well. You cannot count on the payments from him.

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