Legal Question in Credit and Debt Law in Texas

Negotiating the reduction of a default judgement

One of my creditors has a default judgement against me. Now it's to the point where they are talking about a subpeona to call me in to discuss my assets. I don't think they can seize anything because any assets I have are exempt in Texas, but I don't want to go through that. I'd like to settle for a reduced amount and pay it off quickly. The judgement is for around $8000. Please advise on how to approach them about a settlement and what I can expect to actually pay. Thank you for any help!


Asked on 8/01/06, 5:27 pm

1 Answer from Attorneys
TC Langford Langford Law Office

Re: Negotiating the reduction of a default judgement

Fifty cents on the dollar is a good settlement. Call or write the attorney for the creditor and propose a lessor amount, they will counteroffer.

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Answered on 8/02/06, 9:26 am


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