questions about settling debt if there are objections

[tacomeat]

lets say i get an objection and end up settling (or want to settle) for $10,000 instead of taking it all the way to trial. well, how do i actually "settle up" if i dont have any money and no job?

and why would they want to settle with me for a lower amount if they know i dont have the money nor a job? if all they are looking for is a post-bankruptcy judgment that can never be discharged, why would they settle at all (assuming they think they have a decent case)?

and would that $10,000 debt continue to accrue interest for years while its slowly being paid off?

and does it become my responsibility to inform them of any new income or new job in my life? or do they periodically search out my bank accounts and/or employment like they would in a pre-bankruptcy judgment?

thanks.

[newbie2]

Settlements are varied by the company seeking the settlement. What one company wants isn't necessarily what another company would seek from you. It's all in the negotiations. They can demand, you can reject, they can demand something else, you can reject or modify.

If their objection is strong and sound the discharge of the specific debt might not be granted. It doesn't mean that the rest of your debts won't be dishcarged. Deal with "ifs" when they happen.

This is far too broad to give you a precise answer.

[AngelinaCatHub]

You are worrying beyond reason. Worry when something happens and not on speculation. It is rare that a debt from a company goes to AP. Most of the time it is personal loans or partnerships that go AP. Most AP's that I have heard of (including ours) was vindictive people who just wanted to damage you more than they wanted to settle.

Now figure, let them take you to AP court. Only that item is in dispute. The worse that happens is that the debt will not be discharged. I believe they then would still have to sue you in civil Court. Either way they may or may not get a Judgment. Then the creditor has to collect it. Well if you have nothing why worry? Depending on the state they have to go after writs to execute for garnishment or levy. Certain things depending on state cannot be taken. Retirement, 401k's, IRA, automobiles worth less than the exemption.

So, when you have a problem to worry about, handle it. With the amount of normal stress bk causes, why make more stress up in your mind? 'Hub