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"It's approximately in the $1,000 range," lawyer J. Michael Flanagan says.
A check, Flanagan says, will soon be received by Kim Robard-Rifkin, owner of the 1999 Mercedes-Benz station wagon that Spears hit Aug. 6 in a San Fernando Valley parking lot with her Mercedes convertible.
Robard-Rifkin could not be reached for comment.
Spears's two misdemeanor criminal charges of hit-and-run causing property damage and driving without a valid California driver's license still stand.
But if the court sees proof of Robard-Rifkin's compensation, the hit-and-run charge will likely be dropped, says Flanagan.
"We're also working on resolving the license issue," Flanagan added. That charge can be reduced to a mere traffic infraction upon showing proof that she's licensed.
Spears was issued a California license on Oct. 2.
Her arraignment is set for Oct. 25.
The financial agreement was first reported by TMZ.com.
