I currently have a defaulted perkins still owed to my school ( I missed it in consolidation). I spoke with the counsel at the school to go into repayment, where they will draft an amount in 12 installments. This was all initiated by me. I sent the authorization along with my signature stating that they can draft the amount each month, and we are now two months in without a problem.
I today get a letter with a request for a signature on a Agreed Judgement??
Its from 2008, and I guess they tried to serve me but I had moved.
Why do they want the Agreed Judgement, and wont that allow them to not only place this on my credit but also seize assets and garnish wages??
I still plan to continue to allow for the 125.00 to come out each month, but this is of concern to me..
Agreed judgment is entered after an understanding between the parties (creditor and debtor). It is a written agreement shared by the counsel, and is after another alternative attempt of settlement. With agreed judgment trials can be avoided.
So, can you tell whether you were ever intimidated about any judgment before this?
I am concerned that this judgement will be placed on my credit report..
I have no intentions of trying to get out of the debt, I am attempting to mitigate any potential derogatory marks on my CR
I understand the problem that you are in. However, can you tell me whether you were ever served notice regarding this lawsuit before this judgment?
no, I was never served notice of this. it was mailed to me after I entered the repayment agreement.
Does making a payment arrangment justify a judgement being put on someone, that does not seem right?
Exactly what I was thinking. I wonder if by calling the school and explaining you are willing to pay but do not want this on your credit record would help. Ask them if you can just sign some other sort of paper that would hold you laible for the debt instead of the judgmane paper. Is there any type of letter or agreement that would work in a case like this?
No this is not right. Thus, it is always better to get any kind of agreements in writing. The written agreement can then be used to solve such problems as posted by the OP.