Legal Question in Credit and Debt Law in Georgia

I was given a Settlement document to pay off a judgement. We agreed on a total of 4000 to pay off the judgement and that is listed in the settlement amount, however in the settlement payment section it says a total of two payments of 1700 and 1300 to pay off the settlement in full. which is binding? the settlement agreement is already signed by the company.

Asked on 8/01/13, 7:41 am

4 Answers from Attorneys

Scott Riddle Law Office of Scott B. Riddle, LLC
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It really is not one or the other - it could be both or neither depending on who is asked. It appears the document contains an scrivener's error. If you agreed on $4,000, the easy solution is to contact the creditor and have them correct it. If you sign and return with the intention of only paying $3,000, the creditor will rely on the $4,000 figure and the dispute will continue.

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8/01/13, 7:48 am
Glen Ashman Ashman Law Office
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Obviously the document contains an error and you need to get it corrected, and reviewed by your lawyer, before signing.

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8/01/13, 8:31 am
Robert Gardner Hicks, Massey & Gardner, LLP
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If you sign the agreement, as that is what is in writing, that is what will be binding. If there is an error, have them correct it before you sign anything.

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8/01/13, 10:31 am
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Without looking at the whole document, it can't be both so there must be a typo in the payments A total settlement of $4,000 payable in 2 installments of $1300 and $1700. My math says $1700 + $1300 = $3000. Obviously something does not add up - and one of the figures should be a "2" instead of a "1".

If you have the whole $4000 to pay in a lump sum, I am sure the creditor will not complain if you pay it all at once.

However, if the settlement agreement is not right, then make them send you a correct one. I have had to do that for several creditors. My policy is that I either get an acceptable settlement letter or the creditor gets no money. Most of them comply.

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8/02/13, 12:47 am

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