Has anyone here settled out of court with a law firm after they filed a lawsuit?

[optimistic1]

Just wondering if I have other options.

[HHM]

Yes, you can. Generally, the collection law firm will do what is called a "stipulated judgment" and allow you pay the balance over a limited period of time, usually 12 months or less. If at any point you stop making the payments, the law firm can immediately file the stipulated judgment and get a judgment against you.

Most law firms do not offer significant reduced balances, settlements (on average) will be over 50%. If you opt for the payment plan, you will usually need to pay the entire balance.

[jwmc1]

I have done this there times...when I felt I wasn't getting a good deal prior to the lawsuit, I waited until my name showed up at the county and then I called to try and settle. One time it backfired though...I ended up paying back every dime over 12 months

[frogger]

Many times, you can settle "before" court. Normally, the judge loves it when you work out an agreement before the case is heard. If you can reach an agreement, the judge will issue a "consent agreement" that can work out for both of you.