New Thing 105, New Thing Every Day: Win or Settle a Law Suit

Well, after a few years of trying to collect a debt, this chapter of my life is closed. We have settled the related lawsuit and deposited the final check. I can not begin to tell you how happy this makes me, and how happy I am that I basically never have to think of the other parties again.

Here are my thoughts as Leigh and I put the whole situation behind us, mostly lessons learned.

1. I have been trying to collect this debt since 2014. Three years later, I recovered about 70% of what was owed, with relatively low attorney fees.
2. No matter how right you are, no matter how sure that you will eventually win, being on either side of a lawsuit is no fun at all (at least not for me).
3. No matter what you see on TV, it is really hard to get attorney's fees, so don't get too focused on that.
4. For me, you need a really good attorney, but just as important is having an attorney you can trust, who mostly shares your values
5. If you are entering a deal that involves signing paperwork, do not disregard the details because you trust the other party. Either skip the paperwork or make sure you are okay with absolutely everything if the worst-case scenario happens.
6. Larger lawsuits take a pretty long time.
7. Do not accept paperwork with any scenario that would disadvantage you.
8. If someone wants you to sign paperwork that seems like it might disadvantage you, realize that this is a huge red flag and reconsider the deal, no matter hw much you like the other party; they do not have your best interests at heart.
9. Do not do deals with people who have declared bankruptcy, unless you are 100% sure -- and your attorney is 100% sure -- that the written agreement protects you.
10. You will get less money if you settle, but do not underestimate the value and peace of mind that comes with putting any court action to bed.
11. For large debt collection, I recommend judiciously combining being a total hardass and providing rope for hanging.