Once An Agreement Is Reached

If you settle a debt before or after a lawsuit, sign different documents that close the transaction. The first is a settlement agreement. A settlement agreement is essentially a contract between the parties with the dispute, which sets out the terms of their agreed transaction. These documents can be simple, as in „I pay you this amount of money and you will reject your complaint.“ Multi-party agreements, payment terms, confidentiality clauses, payment plans and other unique terms for these specific claims can increase in complexity. Make sure you understand the transaction agreement before you sign, as you are bound by its terms, even if other parties do not comply with it. Let`s say you`re in a wreck and you`re claiming against the other driver for your injuries. .

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