Form letter for amended settlement

Submitted by cjpglass on Thu, 08/05/2010 - 00:21
Forums
Credit repair

A friend of mine has asked my help to act as a third party to a situation in which a former tenant sued him and won a civil judgment if 1500.00. He is attempting to first negotiate a reduced amount and second to possibly have a more favorable mark on his damaged credit. Does this action help in any manner? Is there a form or wording I should use to have this person sign off on the amended amount for settlement?

Aaron

Hi cjpglass,

Welcome to this community :)

He is attempting to first negotiate a reduced amount and second to possibly have a more favorable mark on his damaged credit. Does this action help in any manner?

He can try to negotiate a settlement with the tenant, and should get a written agreement on the settlement. As for the favorable mark on the credit report, the account can only be reported as "Satisfied Judgment". The judgment however, can't be removed before 7 years (or may be 10 years or more depending upon your state laws.)

Is there a form or wording I should use to have this person sign off on the amended amount for settlement?

I am afraid there is no form letter on settlement. However, you will easily gte one from the Internet.

Thanks,

Aaron

Thu, 08/05/2010 - 06:53 Permalink
matzcrorkz (not verified)

PXrOFE Major thanks for the article post.Really looking forward to read more. Really Great.

Tue, 08/05/2014 - 13:26 Permalink