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It depends on the jurisdiction. In CA, they have six months from the entry of default and if Defendant can show excuse neglect, then it gets set aside automatically.
If it’s been longer than I wouldn’t.
In FL, the clerk or judge can enter default. If you received a clerks default, I wouldn't agree to stip (especially if there is no excusable neglect).
What jurisdiction are you in? What's the likelihood of the judgment getting set aside on a motion? What kind of case? Are you going to have to prove the amount of damages at a hearing anyway? Do you know defense counsel? Sorry for all the questions, but my thoughts depend on the answers.
I’m an insurance defense attorney and make those type of calls on a weekly basis to PI attorneys. If the default is because of a defense attorney’s mistake, let them out of default. It will benefit you in the long run. If the default is because the defendant simply ignored the complaint, then I’d move forward with a damages hearing and make defense counsel file a Motion to Set Aside. Also, if it is an insurance case and the defendant is “judgment proof,” the insurance company will likely pull coverage and your client won’t get anything. Something to keep in mind