stipulation of settlement translation?

[kiltystinks]

I am out of my comfort zone with legal jargon and I would appreciate
some knowledgeable insight in this matter.
I was sent a stipulation of settlement letter and along with the payment schedule there were some additional terms which were never discussed over the phone during monetary negotiations. Being that the collection agency has a really, really bad reputation, I have not signed the letter because I am cautious about their intentions. To be specific, they are accused of obtaining default judgments and freezing bank accounts using questionable tactics. Can anyone translate this for me?: "In the event of default under the terms of this settlement, the plaintiff may, on 5 days written notice, accompanied by a Certification showing the balance still due, move for an Order for the entry of judgement, and the defendant(s) consent to the entry of judgment, for the amount stated to be due in the Certification, unless the same is disputed by presentation of a Certification to the court by the defendant(s)". I have the ability to pay the debt but would put nothing past the collection agency to use the signed letter to their advantage. By signing the stipulation letter with these terms, what could possibly result? The benefit would be a smaller repayment amount than the original amount. (which is greatly exaggerated from the real amount due but that is a different story). The court date, if a settlement has not been reached, is in 2 months. :cussing:

 

[seniorjudge]

The language means that if you don't pay, they'll go back to court and get a judgment against you.

If you take the settlement, every time you send in a payment, send it certified mail, return receipt requested, and staple your certified bank check to a copy of the settlement agreement.

 

[kiltystinks]

Thanks for the reply. Good tip about the certified bank check. I am curious: according to the letter, what could happen "on 5 days written notice"? There already is a court date set in a few months.
I definitely don't want to give them easier access to a default judgment. Even though I am planning on following the payment schedule exactly, they could make a claim I didn't and I would have to drop everything to dispute. According to internet research, they shouldn't be trusted. And it is alleged, the courts and banks don't make it difficult for them either. Also, is there any value to an unsigned stipulation letter when it can be proven that the payment schedule has been followed?