8 Year Old Judgement with Capital One - $25,000 - Advice Please

Discussion in 'Credit Talk' started by tdcoile, Jun 1, 2017.

  1. tdcoile

    tdcoile New Member

    I have a judgment that recently was rediscovered after being dormant for 8 years during the process of buying a home. The judgment is no longer on credit but was discovered by the title company. This became a hard stop on the home purchase. This judgment came at a time in 2009 when I was in the mortgage industry and when the real estate market tanked, and I was also going through a divorce, no excuse, just what happened.

    I have to deal with this debt now in order to be able to buy a home. There has been no collection efforts up until this point, garnishments, bank levy;s, etc. so I am hesitant to contact the attorney or Capital One to discuss if anything can be settled for less. I cant locate a number for Capital One to discuss the judgment, only customer service numbers.

    I have never had to deal with anything like this so I am quite nervous and unsure how to proceed, any advice is greatly appreciated.
  2. jshimmer

    jshimmer Well-Known Member

    Once a judgement has been obtained, it can be renewed indefinitely. That means your liability for it never ends unless you file bankruptcy or pay it off. I know that in Michigan, money judgements are good for 10 years and can be renewed every 10 years.
  3. tessmcgill

    tessmcgill Well-Known Member

  4. jshimmer

    jshimmer Well-Known Member

    Being that most contract law is state law, not federal law, of course it depends.
  5. Colleen M Jeffrey

    Colleen M Jeffrey New Member

    I would contact an attorney who specializes in consumer protection

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