Legal Question in Credit and Debt Law in Maryland

Paying a Judgement

I have a small business and have a judgement that will be filed against me soon. I do not dispute the amount but have been contacted by companies trying to negotiate a settlemet for me. All of them state that once the judgement is entered I will have to pay the total due at one time, or loose my business. They all want large sums up front to stop the judgement. If I had these amounts I would not be in this situation. I have all intentions of paying the total amount due, and plan to have it done within 7 months. After the judgement is entered what time frames do I have? Can I pay sums toward the balance.


Asked on 5/25/00, 1:12 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Paying a Judgement

Your best bet is to contact the plaintiff or its lawyer and work out a settlement. That way no judgment is entered against you unless you default on the settlement. These people contacting you are either trying to make a high-interest loan, or trying to get you to retain their services. You may not even need a lawyer, although it might be a good idea to let a lawyer look at the case to see if there are any defenses, or to work out a settlement with the other side.

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Answered on 7/06/00, 11:06 am


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