Legal Question in Credit and Debt Law in Illinois

Could you please give your opinion on my following plan of action for negotiating a judgment in Illinois?

I have a judgment against me of approximately $1700 + cost, totaling approximately $2100. The judgment was entered 15 months ago. No payments have been made, as I have yet to find employment; I work odd jobs for a woefully small amount of money per month and family members are assisting me with the major bills. I consulted with a bankruptcy attorney as it would be the only other option to easing my financial burden, but I'd really just rather pay my debt. I have accumulated $1700 over time and from various sources, and would like to negotiate to pay this lump sum and be done.

My plan:

(1.) I will send a letter to the creditor's attorney stating everything above. I will request that they accept the lump sum payment as satisfying the debt, and issue a satisfaction of judgment.

(2.) If they agree I will draft an agreement accordingly, and with all the required signatures I will make the payment. I will file a copy of the signed agreement and the payment receipt with the clerk. I will also file a motion to have the judgment vacated based on the satisfaction of the judgment.

Am I missing anything? Is a lump sum of $1700 reasonable to ask?


Asked on 2/02/12, 11:04 pm

1 Answer from Attorneys
Jonathan Shimberg Shimberg and Crohn, P.C.

Go for it. It is not an unreasonable plan. However, if you want to file the agreement, you must file the original -(why not have 3 originals - one ofr each side and one for the court).

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Answered on 2/03/12, 4:46 am


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