I'm trying to better understand some of the law and regulations regarding credit and judgements. For this discussion, let's assume the OC was a WaMu credit card, $2,500 balance, sold to Midland Funding, who then obtained a default judgement against the consumer. Midland is still listed on the credit report as a collection account and also as a judgement. Does Midland or WaMu still have any obligation to respond to a request for investigation or anything else? WaMu is not listed on the credit report any longer. I'm simply wondering if there are any responsibilities of either party at this point, given that the default judgement has already been issued.
Midland can not list the item as both a collection and a judgment. It's either one or the other. Midland's entry on the report as a collection has to show as zero, but the judgment has to be satisfied.
If you dispute something in question through the CRAs, both the OC and the CA should respond to the investigation. Of course, that doesn't mean they "have" to respond, and even if they do the communication is often done electronically through a system that's used by the CRAs to track disputes. Then again, if Wamu isn't listed on any credit reports, there would be nothing to dispute or investigate.
Warminghut Are you trying to dispute the judgment or the collection? The number one cause of a default judgment is that the plaintiff did not answer the summons, undisputable with a CRA. The only way to get a judgment off your CR is a motion to vacate, meaning a judge deemed it vacated (removed) via improper severing, satisfied by discharge (BK), proof of fraud or payment. If I understand this correctly, the OC (WaMu) sold the CO to Midland who can by law report to the CR, the OC then should have stop reporting from the date the debt was sold Midland, but Midland should stop reporting from the date the default judgment was entered. What are you planning to do dispute the date of last activity? Purchasing a debt does not turn the CA in to OC per the FDPCA; but you should have filed a DV within 30 days of the first contact with the CA not after a judgment has been issued. The judgment needs to be dealt with not trying to validate a debt, start researching garnishment laws and exempt funds. IMHO you what you are asking is putting the cart before the horse youâ??re not going to get anywhere. PS I feel like I am living on Sesame Street: CRA, CR, BK, OC, CO, FDPCA, DV, IMHOâ?¦ Now I know my ABCs wouldnâ??t you all sing along with me.
