On Judgement question, should

Discussion in 'Credit Talk' started by bkonner, Feb 18, 2001.

  1. bkonner

    bkonner Well-Known Member

    re: judgement post.

    What are the advantages and disadvantages in paying the judgement? The SOL has expired for reporting, but not for judgements. The SOL was six years, and the judgement period is 20 years. The debt was from 1992.

    I have two questions:
    1, What can happen if he does not pay the old judgement? Can the collection agency go back to court?
    2, What kind of benefit does he get from paying the judgement, since paying it and having it posted on the credit report damages the credit report. And does negotiating with the collection agent re-start the clock?

    What would you do?

  2. Hal

    Hal Well-Known Member

    RE: On Judgement question, sho

    Be careful with this matter. The laws vary from state to state, but you could be facing continuing interest charges, and the agency can sometimes go into court and renew the judgement if not satisfied (Paid). Potentially, it could remain on record indefinitely with renewals.

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