Re: Lawsuit & Settlement?
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Posted by Taziblue
(220.127.116.11) on May 21, 2004 at 10:55:15:
In Reply to: Lawsuit & Settlement? posted by KS on May 20, 2004 at 19:25:33:
It is never to late to settle. Many lawyers file a lawsuit to get you to settle. You should answer the lawsuit to avoid a default judgment.
You might consider asking for a continuance to get a lawyer and explore settlement options. That would set the clock later and force the other side to come into court just for you. Now you are costing them time (which equals money) so they may be more willing to work out a deal.
If you settle, make sure that they agree to dismiss the lawsuit with prejudice (so they can't refile).
They really just want money- so go ahead and make an offer. You might try to settle for less than the full amount- they will often take less- try for 50% - you might get it. If not, shoot for 75%.
collecting on lawsuits is time consuming and takes a long time.
Basic law of finance:
Money today is worth more than money in the future.
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