A judgement obtained by a bank (c/c account) back in 05.1996 is coming back to haunt me. The judgment says I owe 951.00. It only shows on my Transunion report and it is scheduled to fall off next month. Now I receive papers to appear in court concerning that judgment and they want to examine me. They want automobile titles, W-2 forms, Income tax papers. I called the attorney office and they want to settle for 80% of the amount (the amount totals 2300 - after attorney's fees and 14.88% annum interest). I asked if they would settle for 50% and they told me they need 80% otherwise they will see me in court. Can they renew the judgment if I cant pay anything now? If I pay would it re-age the judgment? Should I hire an attorney....not sure what to do.. Help!
Can they renew the judgment if I cant pay anything now tuGuy ============== THEY CAN. The END ************************* LB 59
If they renew it...will it show on my credit report - it will be 7 yrs next month. If I pay - would it re-age the judgment? How come it only appears on TU?
Definitely make a deal with them to pay it off. I wouldn't quibble too much over 50% vs. 80% of a judgment this smiall. Satisfying the judgment will not re-age it. If you don't pay it, they can renew it and it could appear as a recent judgment which will tank your score. Right now it is probably not affecting your score very much because it is old.
I think Picantel is right? All they can do is drag you into court and harass you, try to garnish your wages, seize bank accounts, etc... I don't believe that they can re-report or re-age the judgement unless they can somehow sue you again? I'd check with an attorney. Hard to believe that they would raise such a stink over a delinquent $900 cc bill. Check the SOL in your state on collecting on judgements. Also, don't they have to find and serve you to drag you into court? I don't believe a notice sent in the mail serves as legal summons unless you sign for it? It varies from state to state, but most states require a legal service.
Renewing a judgment is pretty much pro forma. The creditor does not have to serve you with a new summons and complaint and then re-prove the case. All they have to do is file a paper with the court staing that the judgment remains unsatisfied and asking that it be renewed. Once the judgment is renewed, it gets picked up by the credit bureaus and reported from the new entry of judgment date. It's not the same as re-aging a debt which is illegal.
What State are you(and the judgment) in? Perhaps the judgment is NOT renewable in your State, perhaps it is only renewable if it is refiled with information they may not have. If it is refiled with the same original file # it is not reported for an additional 7 years, if it s a NEW file #, it IS.
I am from Louisiana...They served me 6yrs and 9 months ago.....I will pay the damn thing...it just dont want it to stay on my record for another 7 years....The SOL for a judgement in louisiana is 10 yrs....not sure if they can renew it ...what should I do? How come it only appears on TU? This is a debt from c/c from a small local bank. I guess the smaller the bank the worse it is...they dont want to lose anything! Never deal with small friendly neighborhood banks
Re: Re: Judgment haunting me after 6yrs11mo [ I don't believe a notice sent in the mail serves as legal summons unless you sign for it? It varies from state to state, but most states require a legal service. [/B][/QUOTE] I got something in the mail in January and this morning a Sheriff's officer knocked on my door with the summons...Please help!!!
Re: Re: Judgment haunting me after 6yrs11mo Sounds like you need to settle this thing PDQ, prefferably before they successfully serve you and get the added leverage. If the judgement is about to fall off, its best just to settle anyway. I'm not exactly sure what they are trying to do (sue or depose you), but you don't want to get the judgement renewed. Call them and settle. Make sure you get your settlement in writing. I'd also be weary about them filing a "satisfaction of judgement" if its about to drop off of your report. There's no telling how that might re-age the judgement or report to the other two CRAs. Good Luck!
Re: Re: Judgment haunting me after 6yrs11mo There must have been something on your credit report that triggered this activity, new credit? New address? In any case,make sure the judgment IS recorded as paid. It will not "re-age" on your report, as the 7 years is from the initial filing date, paid or unpaid.
Re: Re: Judgment haunting me after 6yrs11mo How come it only appears on TU? tuGuy ======== Most likely the other CRAs haven't checked with the court. The END ************************* LB 59
Re: Re: Judgment haunting me after 6yrs11mo The paper work says JUDGMENT DEBTOR RULE "xxxx, defendent and judgment debtor, and his business papers, automobile registration certificates, homestead and bank accounts (checking and savings) on all matters pertaining to their income or property including pay check stubs, W-2 forms and last year's income tax return, to the end that plaintiff may find means to execute the judgment as obtained aforesaid, and that the said defenedent should be ordered to appear before this Honarable Court at such a time as the court will appoint to attend such examination."
Re: Re: Judgment haunting me after 6yrs11mo I checked the Federal Credit Reporting Act and it says: paragraph 605 (a) no consumer agency may make any consumer reporting from the date of entry of the order containing (2) civil suits, civil judgments and records of arrest, antedate the report for 7 years I guess this answer my question...any thoughts...? i found this on http://www.ftc.gov/os/statutes/fcra.pdf Let me know what you think.
Re: Re: Re: Judgment haunting me after 6yrs11mo Exactly true, however, if a judgment is renewed with a NEW filing # and a NEW filing date, it is a NEW entry. I presume it MIGHT be possible to obtain a copy (certified) of the NEW filing and send it to the CRA as proof that it was a renewal of the old judgment, however, IMO technically, a new filing(even if it IS a renewal) with a new filing # is a new entry.
Re: Re: Re: Judgment haunting me after 6yrs11mo The judgment has not been renewed!....they just want to take me to court for a "JUDGMENT DEBTOR RULE" with the same docket # from the judgment to see if I can pay it. I will pay it since they might renew it...From what I read and researched I can go ahead and pay it and nothing will show on my report since the judgment (the only one) was awarded in 05.96 (7 years ago). Paying now will keep them from renewing and possibly opening a new file #..right?
Re: Re: Re: Judgment haunting me after 6yrs11mo I found out they can only charge 9,75 % interest on judgments in Louisiana, but on this judgment they say 14.88%. What is the deal with that? Plus where do I find out if a judgment can be renewed here? Is there a website that can tell me this?
Re: Re: Re: Judgment haunting me after 6yrs11mo I am from Louisiana, and I was told a while back by a lawyer that a judgment is good for ten years and renewable for another ten. I was interested because I moved away a few years ago, and found out just a few months ago that my ex-husband didn't pay on a loan from a small loan co. that I had cosigned for while we were married. I was never contacted by them, but I have a judgment on my TU report. (Not on the other two, though.) I am considering trying to get it vacated because I was never served.
