Legal Question in Bankruptcy in California
credit card debt -conditional Settlement Agreement/Stipulation for Judgement
We owe 19,689.24 for a credit Card debt financed through Citibank. We verbally agreed to make payment of $300.00 per month temporarily but it looks like we will be filing bankruptsy in the future. We got a Conditional Settlement Agreement and Stipulation for Judgment and order thereon '' to sign. My question is while reading the court papers I am wondering if I sign this agreement will I not be able to have this debt dismissed in Bankruptsy later because part of the agreement reads as follows: ''The parties also agree to and do waive all statutes of limitations and any other legal impediment or bar to this court from again taking jurisdiction of this case under the circumstances set forth above''. If Defendant pays in accordance with terms, plaintiff shall dismiss this matter, with prejudice. 7. Defendant acknowledeges that he/she may have the right to a noticed hearing on the issue of default in the event of default. By signing this agreement, defendant knowingly waives his /her right to a noticed hearing. We owe 19,689.24. We have moved into our rental and will be filing a homestead. California is a community property state can they lien our house even though the house is only in my wifes name.
1 Answer from Attorneys
Re: credit card debt -conditional Settlement Agreement/Stipulation for Judgement
No lawyer can advise you on a contract without reading it. If the statute of limitations was a possible issue, you may have reset the time limit by agreeing to make payments without first consulting an attorney. If you know you are going to file for bankruptcy, what is the point of signing? If you don't sign, then they will get a jugdment which could (depending on the type of bankruptcy you file and yourpersonal circumstances) be fully or partially discharged. If you do, what have you gained? I don't understand the value proposition of signing.
Bring everything to a bankruptcy attorney in your locality before signing anything or speaking with them again.
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