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Stipulation for Entry of Final Judgment Execution

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If you’ve been sued on a credit card debt, you may have received a document either with the lawsuit papers or soon after called a “Stipulation for Entry of Final Judgment Execution Withheld” or something similar.  We have seen such documents sent in by a debt collection law firm that does business under the names of Hayt, Hayt & Landau and Robert J. Orovitz, PA.  It may have been accompanied by a letter from one of the lawyers in that firm, such as Robert Orovitz, Dana Kalman, or Christian Walled.

Although it sounds like a settlement letter, and although the specific payment amount may be left blank, there are some serious consequences you should consider before agreeing to it.

First, the lawyers and their law firm (Hayt, Hayt & Landau and Robert J. Orovitz, PA) represent the credit card companies, ranging from original creditors such as Capital One (Cap One) to debt buyers such as Arrow Financial.  I have yet to see them represent a single consumer against any credit card company.

Second, although they suggest they will be flexible in the terms of payment, many people don’t realize the important protections they are losing.  For example, if you agree to it, you are not only agreeing that you owe the alleged debt, but you are also agreeing that you have no valid defenses.  For example, even if the credit card debt is barred by the Statute of Limitations, you are waiving that defense.  If the credit card debt includes charges you did not authorize, you are waiving that defense.  If the credit card debt includes inappropriate charges, interest or attorney fees, you are waiving your right to dispute those charges.

That document instead is a formal judgment against you.  They are simply agreeing that they will not garnish your wages or execute against your bank account or other assets as long as you make your payments as scheduled.  If you miss even one payment, or if your payment amount is slightly short because you had other unexpected expenses that month, they can proceed with garnishment and execution.  And, you have now given up important rights under Florida laws that related to what assets of yours they can now seize.

Know your rights before you sign them away!  Call us for a free consultation, or contact us by email, fax or through this blog.