Legal Question in Wills and Trusts in Virginia
settlement agreement
I signed a release and settlement agreement in January. The person was to pay me X amount of dollars, so much now and within 120 days the remainder. The 120 days have now gone by and I have not received the remainder. What can I
do to receive the remainder?
3 Answers from Attorneys
Re: settlement agreement
A settlement agreement can be sued upon like any contract. How you go about this depends on how much money is involved. If it is under $15,000, general district court can be relatively simple (sometimes).
Re: settlement agreement
I would suggest sending a ten-day "reminder" letter. If the money has not been paid within the 10 days, take them to court!
How and where you do that will depend on what the settlement agreement provides. Generally you can sue the other party in the county or city where they reside.
If it is a small claim (under $5,000 in Maryland, but the amount varies from state to state), you may not need an attorney. If it is greater than the "small claim" limit, you should consult an attorney.
Re: settlement agreement
The small claims court limit in the Commonwealth is $2000.
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