I have 3 judgements and two reporting several years old. I want to settle them. As part of my negotiation, what is best to demand as not to affect my credit. I understand if these judgements are updated, it can decrease my credit score. Is is possible to ask for a dismissal as part of the settlement? Any suggestions?
They can't be dismissed, if they've already been made. If the judgments are several years old, it's probably too late to have them vacated (depending on the court rules). If you are looking to pay them, contact the plaintiff (or their attorney) and try to negotiate a settlement that will "satisfy the judgment in full." Maybe you can get them to take less than the full amount (under the "cash in hand is worth more than judgment in hand" principle). Just be sure that as part of whatever payment you make: a) it will fully satisfy the judgment. b) the plaintiff will notify the court that the judgment has been fully satisfied. This may or may not have an immediate effect on your credit score, but if you are applying for a major purchase (e.g. a house) where they look beyond the scores and want to see these sort of things paid, it will likely help you out in the long run. I would think that it's better to settle these things while you have some time to negotiate than when you are under the gun trying to get a mortgage approved or something.
A court may allow the judgment to be vacated if the other side stipulates to it (which they should be willing do if they have been paid), regardless of what's in the rules of civil procedure (a great many unusual things can happen if both sides agree to them, regardless of what's on the books). If the court would do it, it's a savvier option than to simply have the judgment creditor plaintiff file a satisfaction of judgment (or than to obtain one of the latter and file it yourself--different states differ on whose responsibility it is to get that done). If your judgments will age off your reports shortly (7 years) and your goals dictate something not appear on your record until after you make a major transaction, you may want to get multiple originals of the satisfactions in hand, store them safely in different places, and omit to record them at the clerk recorder's office unless and until there's a compelling reason to do so. There's no reason to do that with an order vacating the judgment if you are able to get one. A judgment that is vacated is basically treated as though it never happened.
Judgment be Careful I went to court for a GE Capital loan (Homedepot) the Judgment was for me to pay $6500 in payments of $175 to the court. The court sent my payments to GEs attorneys. Paid the judgment off on Jan 2, 2007. On Dec 29th, 2006, just before my final payment, GE sold the account to Sherman Aquisitions. I did not know this until I tried to borrow money for a car. LVNV funding had put it on my CR showing I owed $2700, open and 120 days past due. Tried to get GE to provide satisfaction of judgment as they are actually required to do but they refused. Had to hire an attorney to go before the Judge with proof of payment (the court already had my payment record) to get a satisfaction of judgment in spite of GE. (cost me $400) Sent that to the Credit reporting agency and they removed LVNV funding entry and showed my judgment paid. Pulled my report a couple of weeks ago and found the entry was put back on my report but the tradeline now shows Sherman. So if you pay a judgment off, insist that the satisfaction of judgment requirement on the creditor is a part of the judgment.
These people love to screw you.they no about it and it's like we don't care so what that's your problem.but sooner or we all go through this even them and i hope they get as much understanding an compassion as they gave us we we paid our judgement in full.ugggggh
I recently paid for a Collection for LESS than the full amount. It was for an old Apt bill I had in 05. After payment I realized that its a public record for the same amount. Also the account(NOT THE PUBLIC RECORD) is showing paid collection and its listed as an open account. (1)How do I go about deleting the public record (2) And how do i update the collection account so it shows paid collection/closed
Whomever owned the judgment needs to file a satisfaction of judgment with the court. Dispute the collection account that you do not owe it. (You don't - it was reduced to judgment )
I don't think there's anything in the FCRA that precludes the appearance of a TL that also appears in the PR section (so conceivably the OC could have a zeroed-out chargeoff TL, the JDB or CA collecting on it could have a TL, and the PR could be showing up). Not mentioned in this thread is the important point that folks who have older judgments against them should verify when judgments expire in their state and under what circumstances they can be renewed and revived. The subject can get quite complex. Here's an article on how it could work in Florida (the law of how it actually does work is a bit muddy): Bar Journal Article As you can see, there are differences of opinion in Florida as to what happens with old judgments. In other states the law may be a lot more clear. And why would anyone pay a judgment that is dead, done, and gone?
I don't know - I think it would depend on how the TL reads. One can argue you can't owe the same debt twice on a cr (ie OC must report -0- balance sold or transferred if with a CA) so why would it be any different for a judgment? Can a judgment be a collection account?
I think a judgment can definitely be a collection account. So there's a PR in one place ... that doesn't mean there can't be a collection in another. Once 7 years are up perhaps the PR is all that can remain (until it too expires, if it ever does), but yeah, I thnk a PR and a TL or two for the same debt can coexist.
I checked with the courts and got an abstract that said the judgement was dismissed in 05'. Is it possible that i could get this judgment lifted from my PR. If so how and could I get my money back from the CA.
The words you are using don't match up. Judgments get satisfied, and sometimes the language used is vacated (although the latter term has other uses that don't mean "paid" so places that use the "v" word when the "s" word is the right one just confuse everyone including the CRAs). Lawsuits get dismissed. Well before judgment. Perhaps because of payment, perhaps not. If you paid the CA so that the case would be dismissed or so that the judgment would be satisfied, well then you got what you paid for. I don't know why your money would be coming back to you. If you want the judgment not to show up as a PR, I guess the first question is does the judgment show as paid on your report(s)? If not, how long has it been paid, and was the dismissal or satisfaction recorded in every place that the judgment was recorded? If there's a clerk/recorder's office separate from the courts, it's possible that there has been a failure to record what's in the court's file over there in the clerk's office. May cost you a few bucks to get a certified copy and go do that. I don't think it's the creditor's responsibility (but it could be by statute ... some states may put the onus on them for everything if they take full payment). If it's recorded everyplace it should be and it's still showing as unpaid you've got a dilemma. You could send the CRAs a copy of the document that releases it, but that'll just get the notation changed and then the thing will be cemented onto your reports for the rest of its natural reporting period (presumably the balance of 7 years). Or you could try a "not mine" dispute with the knowledge that if it fails you'll need to fall back to the other procedure if you want it showing paid in a reasonable time frame.
It was a court document signed by the judge and it was dismissed by the judge in 05'. They should delete it right. If i dispute the judgment will the Court house return with the information that the judgment was dismissed or would I have to seek legal action
The tradeline states in the PR that it is a civil judgment in the amount of 1245.00. Date filed 02/05 Date closed 07/05 The document from the court states that: Windsor Park apt vs ME The judgment states that of 54.00 amount owed 0.00 Judgment statues DISMISSED All of which was signed by the judge himself.
