Opinion
Bankr. Case No.: 07-19071, Adv. Proc. No.: 10-00763.
April 26, 2011
Jeffrey L. Friedman, Esquire (Bar #06290), FRIEDMAN ASSOCIATES, Reisterstown, MD, Attorneys for Defendant, Sallie Mae, Inc.
Obie L. King, Jr., Pikesville, MD, Plaintiff, Pro Se.
ORDER APPROVING STIPULATION IN SETTLEMENT
AND NOW, upon consideration of the Stipulation between Plaintiff, Obie L. King, Jr., Jr., ("Plaintiff"), pro se and Defendant, Sallie Mae, Inc. ("Sallie Mae"), by and through its counsel, it is hereby
ORDERED, that the Stipulation is hereby APPROVED and made an Order of this court; and it is further
ORDERED, that for so long as the Plaintiff does not default under this Agreement, the balance shall be reduced to $4,615.00 (the "Reduced Balance"), and the variable interest rate shall be reduced to a fixed rate of 2% (the "Reduced Interest"), and the Plaintiff shall repay the Reduced Balance at the Reduced Interest rate as follows: $52.06 per month for a period of ninety-six (96) consecutive months with the first monthly payment due to be received by Defendant on or before April 15, 2011, with subsequent payments to be received on the fifteenth (15th) day of each month thereafter; and it is further
ORDERED, that the Plaintiff waives any claim for damages, penalties, and any other claims whatsoever he has, or may have at some future date, against Defendant, Sallie Mae, related to any aspect of the Promissory Note, or payments related thereto, and it is further
ORDERED, that the Clerk of the court shall mark the above-captioned adversary proceeding as DISMISSED.