I received a judgement by agreement for a collection agengy/lawfirm it says i must pay 100 dollars a month or my successor must. does that mean if i die my son will have to pay it? How does this effect my credit?
A judgment by agreement usually means that you made a deal with the company to repay some portion, if not all, of the debt by submitting monthly payments. This is done when you are facing a lawsuit and an execution and levy of your property. If you owe the debt and are not otherwise able or willing to discharge a debt through bankruptcy you should have a payment agreement in place. Normally the debtor agrees to pay a monthly sum and the creditor agrees NOT to execute on the judgment so long as the payments are received according to the agreement. If this is not your only debt you should consult a bankruptcy attorney to see if you qualify to discharge this and your other debts through bankruptcy.
A judgment appears as a public record on your credit report, and it will hamper you in getting new credit ... at least on decent terms.
Your son doesn't have to pay if you die. Your estate IS liable, but only up to the amount of property in your estate. So your "sucessor" (if that's your son) would have the debt deducted from whatever he would have otherwise received.