Paying judgment in full or in payments

When you say it is old, how old and when did you make the last payment on it? Who is the collection agency and was it a summons served by an officer of the court?

It is from four years ago. I believe my state SOL is for five years for unsecured debts (Oklahoma). It is for a credit card The collection agency is Midland Funding, LLC. The ones who filed the summons are the notorious Love, Beal and Nixon.

I have already reached an agreement in writing with Love, Beal and Nixon to make monthly payments, however, they say that if I pay by monthly payments, the judgment will still be filed. I called them and asked if I pay in full by Oct. 18 if the judgment would be filed, and they said no, which of course, I would get in writing.

Usually they will settle for less if you pay one lump sum. If you go to court you will be charged more lawyers fees and court costs. I was offered a 20 percent discount to pay a lump sum but I did not have it so I had to opt for the installment agreement.

It is very important that you show up in court. Usually the court will try to have you reach a settlement. There is also a chance that they won't show up.

If you have not read about them yet go to this link.
http://www.budhibbs.com/debtcollectorpages/love_beal_and_nixon.htm

I thought it was strange that they had already set the amount of my payments--of course they did ask me what I could afford, and the date of the month I wanted them on, before the actual court judgment. The letter I got was called a "Journal Entry of Judgment". But when I asked them if since I agreed and signed this payment plan, would they not file the judgment, they said, yes they would still file it! The only way I could avoid a judgment was to pay in full.

I got to get someone else over here to look at this. Where is Anthony Lemons. I will PM him. When I read about them on the link I gave you they seem like a bunch of idiots that you could defeat.

Wooohoooo! I just looked up my SOL to be certain. It says, in Oklahoma, the SOL for open accounts, which credit cards are considered to be, and correct me if I am wrong, is three years! Does this mean, since it is four years since I have paid on it, that I can get this suit dismissed? Can I do that by filing my answer to the summons? Even though I have signed the journal entry for summon to pay 300 a month? Can I go to court and file the motion to dismiss, or just put that in my answer to the summons? Man, I'm glad I haven't filed the answer to the summons in court yet!

Check further into your states laws to see what restarts a statute. I PMd Anthony Lemons. He will have a good take on this. He is very sharp when it come s to these things.

I guess he is not around right now. I will try again.

Well i'm not positive about this and i'm sure Anthony or someone else will be around shortly but the way i understand it is, if u acknowledged and signed to make payments on this old acct then it starts the SOL from that date. Now don't quote me on this but taht's how i understand it!
Also, u need to answer this summons! U may have other options of having it dismissed. Don't ignore it! If u need i have a copy of how to answer a summons, just let me know if u need it.
Ang

I think that you are right ang..at least i have read that..hopefully anthony will come around and give the great advice he always has.

ladybug

If you signed a written agreement and started making payments,the sol has probably been renewed as most states would honor that as a renewal contract.