Hi everyone, I know many threads here deal with judgments but couldn't find something that relate to my issue. I have a judgment against me from June 2009 I live in Massachusetts. Which I was not aware off until earlier this year. to make a long story short it's from Capital 1 the original debt was about $1000 fees/interest raised it to about $3300. Judgment was file in court against me for that amount ($3300) in '09. AS of today the amount due stand at $6,200, and this week I received a settlement offer letter valid until August for 50% of that $6,200 amount. After lost of work and financial hardships I have slowly work at improving my credit after years of just using a Debit card this is the last debt I do have now beside student loans and I would like resolve this last black mark. My question is this can I write to the law office in charge of this debt and make in offer let say for around 30% of the current amount they asking? (roughly around $2K) Does that sounds reasonable? I would like to report it as paid off as well. Any other advice on this or anythings else I should include in the letter would be greatly appreciated. Thank you, Pete
Were you ever served with the suit back in 09? If not, then you would have to go to the court and argue ineffective service to try to get the judgement vacated. The problem is, once the judgement has been ordered, the company really doesn't have a need to negotiate, they can collect the full amount plus interest, up until the time it is paid, and the higher the amount goes the better it is for them. Now, if the judgement is vacated, they now know you would actually show up at the hearing to defend yourself from the suit, and that means that they and their attorney needs to actually SPEND money, instead of making money, now they have a reason to want to negotiate.
A paid judgment on your CR can actually be worse than an unpaid judgment. Agree with Jam237 to shoot for a vacated judgment. You might be able to get a PFD if payment is made. Make sure you get something in writing BEFORE you pay the judgment that it will be DELETED from ALL your CR's A PFD can be done no matter what % you end up paying. .
Jam237 Thank you for your reply no I was not. It was sent to my parents house so I never got the mail. So if I understand because of that discrepancy, I can challenge it as ineffective service? I don't mind settling it, but as I mentioned I did not become aware of it until after it was on my report.
Jam237, Another question, I contacted them in February to get information about that debt which they sent to me in March. I just read I have 6 months from the time I found out about it to file a Notice of Filing Notice of Appeal from the small claims clerk in my town where the Judgment was file. My question is this, would it make any difference if I offer a settlement and mentioned if refusal to negotiate that I was ready to file the Notice mentioned above to get the Judgment vacated since I was never serve such said judgment in the first place? Any chance that could be a good strategy in your opinion or should I just go ahead and file the notice? Thank you again for your previous answer.
So, I would file the notice of appeal now, because you just discovered it in February. I wouldn't personally try to settle as long as the judgement is on the books, they have no desire to negotiate when they can try to enforce a judgement (the judgement itself is validation of the debt), if the judgement is no longer there, then they validation needs to come from the ORIGINAL CREDITOR. It's presumed that if there is a judgement, that they provided evidence to the court, but when most judgements are default judgements, very little is needed other than a "YEP! I say they owe it! DANG NABBIT!!!" (Of course, I sorta do feel conflicted saying that when I am probably a bit over 2 weeks away from having my first DEFAULT JUDGEMENT against a CA... )
