Q. I have a structured judgment – can you make my debtor pay me faster?
A: This is also known as a stipulated judgment – where the plaintiff and the defendant agreed on a payment plan – approved by a judge. As long as the debtor is repaying you as per the stipulations required on the judgment – our opinion is that nothing “should” be done to force the debtor to pay faster. (We are not lawyers, see our National Lawyer State Bar List).
If the debtor stops paying you, you (or your lawyer) may be able to file an affidavit with the court, and get an order, that the debtor breached the stipulated payment plan. After that, the right Judgment Enforcer, collection agency, or lawyer can to try to recover your money.
Here is an example of a stipulation agreement for reference, it should be modified for your state and situation and local laws:
LOAN AGREEMENT BETWEEN CARL CREDITOR and DAN DEBTOR DATED OCTOBER 12, 2016
(Formerly Entitled Forbearance Agreement)
This Loan Agreement is entered into effective October 12, 2016 by and between Dan Debtor and Carl Creditor, (Judgment Creditor and Lender).
WHEREAS, Judgment Creditor is the assignee of record in judgment entered in Los Angeles Superior Court Case # 27-2009-00087597-CL-Eau-CTL, in the original CA amount of $18,292.97 (the Judgment);
WHEREAS, Debtor presently (including interest and court-approved costs) owes to Judgment Creditor the total sum of $23,740.18 under the Judgment;
WHEREAS, Debtor has informed Judgment Creditor that Debtor is presently unable to pay the Judgments in full, but is capable of making the payments set forth below.
WHEREAS, Debtor has requested that Judgment Creditor forbear from taking any action to enforce the Judgments;
WHEREAS, as long as Debtor is not in Default of this Forbearance Agreement, Judgment Creditor is willing to forbear from enforcing the Judgments, to give Debtor more time to pay the Judgments, and is willing to forgive a portion of the Judgments and interest, provided the below Agreement is fully complied with;
WHEREAS, Debtor has agreed to grant Judgment Creditor a trust deed on her home, concurrent with Judgment Creditor’s release of all other liens, including without limitation the Abstracts of Judgment;
NOW THEREFORE, in consideration of the premises and the mutual covenants of the parties, it is agreed as follows:
1. Debtor agrees to pay Judgment Creditor $3,200 by July 16, 2017 and to make 30 monthly payments of $500 thereafter, commencing on August 15, 2014. The 30 payments of $500 shall be sent to CARL CREDITOR at 211 Plaintiff Avenue, San Jose, CA each month, and shall be postmarked by the 15th of each month.
2. Judgment Creditor agrees that so long as Debtor is not in Default of the Forbearance Agreement as described in paragraph 6 below, Judgment Creditor will refrain from taking any action by legal process or otherwise to enforce payment of the unpaid balance of the Judgments, such as, by way of example and not limitation, wage garnishments, debtor examinations, discovery requests, collection notices, and levies.
3. Judgment Creditor further agrees that if Debtor is not in Default of the Forbearance Agreement as described in paragraph 6 below, Judgment Creditor will waive its right to payment of any future interest from the date of this agreement, and its costs of collection, including attorney fees.
4. Judgment Creditor further agrees that if Debtor is not in Default of the Forbearance Agreement as described in paragraph 6 below, Judgment Creditor will forgive repayment by Debtor of the remaining amount otherwise owed on the Judgments.
5. Judgment Creditor agrees that while X is not a party to this Forbearance Agreement, he is a third-party beneficiary of this Forbearance Agreement. Therefore, as long as Debtor is not in Default of the Forbearance Agreement as described in paragraph 6 below, Judgment Creditor shall refrain from taking any action by legal process or otherwise to enforce payment of the unpaid balance of the Judgments against X.
6. In the event that Debtor fails to make any payment as specifically required by paragraph 1 above, Debtor is immediately in Default of this Forbearance Agreement.
7. This Forbearance Agreement in no way replaces the Judgments against Debtor. If Debtor Defaults, then Judgment Creditor shall immediately be entitled to record all liens based on the Judgments and both Judgments, plus all interests and all recoverable costs shall immediately accrue, minus all payments made by Debtor in Judgment Case # 27-2009-00087597-CL-Eau-CTL.
8. When judgment is satisfied, Judgment Creditor agrees to record releases of all liens against Debtor, including the Abstracts of Judgment.