Judgements Questions

Discussion in 'Credit Talk' started by Mike, Dec 18, 2000.

  1. Mike

    Mike Well-Known Member

    I have a debt for 813.00 that is currently owned by a collection agency in CA. The debt origninated in AL, and the last date of activity was 08/95. It comes off my credit report in 08/02, but the SoL will not expire until 08/01. I have never been contacted in any way by this company in CA, I merely saw they listed the debt--in 10/99--when I finally got the guts to pull my credit reports last week. If I had the money to pay this, I would, but it will be about 2 months until I would be able to make regular payments (full time student). My questions are:
    1. What are the chances that this company will simply go for a judgement against me without attempting to collect by normal means first, as a result of the fact that the SoL expires very soon? Do such "midnight judgements" occur regularly?
    2. If they did try to get a judgement against me, rather than contact me to collect, what recourse would I have at that time? Could I simply pay them upon being notified that they were seeking a judgement and make it go away, or would I be out of luck at that point?
    This debt is already 5 and a half years old, and I would absolutely hate to have to deal with a judgement for 7 years at this late hour. Is this a serious risk, and should I try to reach an immediate settlement to avoid it? Or is it safe to run the clock a little and see what happens? Thank you so much, Mike
  2. Momof3

    Momof3 Well-Known Member

    I would not contact them, this would only open up a can of worms, if they haven't contacted you in anyway so far, it is not likely they will sue, however if they would try you would have the chance to settle before a judgement was enforced.
  3. river

    river Well-Known Member

    I agree with momof3. The clock has been running for 5+years.Until you hear further,let lying dogs sleep.I had a judement from '95 and paid it 4 months after judement and it showed on credit report as paid/satisfied.I got copies of all 3 reports month ago and disputed all 3 and judgement was removed from all 3.
  4. netKat

    netKat Guest

    I would absolutely let sleeping dogs lie.

    In answer to your questions:
    1: Slim, but possible
    2: There is always room for negotiation :)

    Don't make the first move on this one, you're right, it may well set your clock back to another 7 years, even if you pay it in full right now.

  5. Saar

    Saar Banned

    Don't contact them until the SOL period expires.

    When it does, you may offer to pay the debt WITHOUT ACKNOWLEDGING ITS YOURS, in return for deletion from your reports. If you somehow acknowledge the det as yours (for example, trying to explain why you didn't pay it on time), you will reset the SOL period.

    You have to do your own math, i.e. see if you're better off paying the debt (after SOL expires), in return for having this entry removed from your report 12-18 months sooner.

    If, at that point, they refuse your offer, tell them they have 14 days to rethink it, after which they'll get a Cease & Desist letter, pursuant to the FDCPA.

  6. Frank

    Frank Guest

    River, any advice on how you disputed your judgement in order to get it removed? I have a satisfied judgement in NY state from '95. I was never served officially, just got a letter in the mail after it the judgement had been entered against me, and payroll deductions were ordered. Now that I am house-hunting, I need it OFF my reports! Any help is appreciated.

Share This Page