To: MP$40

Discussion in 'Credit Talk' started by Larry/Saar, Jan 23, 2001.

  1. Larry/Saar

    Larry/Saar Guest

    Saar wrote:
    MP$40, you have to consider it from creditor's point of view. A potential customer who they think is unlikely to pay his bills, is not profitable even if his debt is secured. Retaining a customer costs much more than lending him the money till he pays it back.

    An applicant who does not pay a debt even after the "judgment phase" is, by definition, a very high credit risk.

    But there may be a way around this. Please elaborate on the judgment: Date, sum, can you pay all/part of it considering the money you'll save if your credit rating improves, and any other info you think is relevant.

    I would like to know in more detail your situation (only the judgement details)... "Every problem has a solution." Hang tough... think positive.
  2. Saar

    Saar Banned

    Above message not posted by me

    What does the "Larry/Saar" poster field supposed to mean ?!

  3. Cadillac408

    Cadillac408 Well-Known Member

    My Reply

    Thanks guys for your concern, I really appreciate it.

    On to the details:

    Court: X Municipal Court
    Amount: $1311
    Original Filing Date: 1/21/98
    Docket#: xxxx
    Plaintiff's Name: American General

    Here's the story in short:

    I co-signed for a car for my ex. He blew the engine and left it on the side of the road. Car got towed and was at a towing yard (he led me to believe that it was at a mechanic being looked at). Storage fees, etc. were added. The tow company tried to do a lien sale but first had to check w/ American General (AG). AG was notified of the car's condition (blown engine) and since there was $1311 left on the loan, they decided to release the vehicle to the tow yard and take me to court for the remaining balance on the loan (which was seriously delinquent). I thought my ex was still making the payments on the car but he wasn't. The next thing I know I get a summons to appear in court (via certified mail). That's when it all came out (car wasn't at a mechanic, payments weren't being made, etc.). I knew that I owed the money but I did not show up to court (it was 2 hrs away and I couldn't afford to take the time off from work and go...stupid me!). I did not know the severity of a *judgment* until after the fact. Then in ~7/00 I contacted AG wanting to make some sort of arrangement to pay this. They put me in touch w/ some collection agency (FRS) who made me a first and last time settlement offer of $600...I took it. I was instructed that once my check cleared that AG would sent me paper work to get it cleared w/ the courts (satifaction of judgment?). I did receive receive papers from AG in ~10/00. It was the title to the car along w/ the contract for the loan which was stamped 'Paid in Full'. I just found RIGHT NOW (been looking for this information for months) the name and number of a lady w/ AG who stated that if I needed any help, that I could call her. I'm calling her right now!

    O.k. just got off the phone w/ a lady. She said that she needed to transfer me to their administrative dept. which handles this. Now I'm on the phone w/ another lady. She stated that they have sent the credit bureaus updates on 10/16/00 that this was paid. I told her that TransUnion deleted it but Experian has not. She suggested that I dispute it w/ Experian. I have twice already and Experian stated that they will not reinvestigate this. I told her this and now I'm on hold again. Now I've been transfered to another person. He doesn't know why I was transfer to him???? UUUGGGGHHHHH!!!!!! Now I'm on hold again. Now Emily just came on the line and asked me to hold a sec!!!!!!!!!!

    O.k. here's the final word:

    Emily stated that I need to contact the court and see if the judgment has been released. If not, I need to contact her back and they will take care of it. I already know that the judgment was not released (that's why Experian keeps verifying) so I'll just call her back tomorrow and tell her that it has not been release and to do whatever it takes and REMOVE it from Experian!


    Thank you for your post. If it wasn't for you guys, I would of never pulled out my Qspace report from last year that had the VITAL information (written on the back) on that lady that I had been looking for!
  4. Cadillac408

    Cadillac408 Well-Known Member

    RE: Above message not posted b

    I don't know? Maybe he was trying to get your attention also????
  5. Saar

    Saar Banned

    RE: My Reply

    Your credit is now in their (and the court's) hands. Their only duty is to report the judgment as "satisfied", which doesn't look very good either.

    The right way is to pay on condition the creditor will agree to vacate the judgment. This way the CRA must remove the entry altogether. Sure, you may be lucky enough to get the same results by disputing or by sheer luck. But playing it safe is always the better option.

  6. Larry

    Larry Guest

    Re: Above message posted by yo

    Just trying to call your attention... also you did write that post...

    The "Larry/Saar" idea wasn't that great I guess... anyway... don't freak out dude... your identity is safe, until I figure out your SSN... lol... just kidding.

    Sometimes a lil bit of humor is necessary in a board like this one !
  7. Cadillac408

    Cadillac408 Well-Known Member

    RE: My Reply

    Those were the words that I was looking for. That is what the original agreement VACATE the judgment. When I was talking to them on the phone, I was using REMOVE instead of VACATE. Tomorrow when I call AG, I will start using VACATE.

    Thanks for your help!
  8. Larry

    Larry Guest

    RE: My Reply

    I consider this a desperation move, but hey it might work... use the "MOTION TO VACATE JUDGEMENT" method??

    File a motion of Service of Process to have judgement removed from your credit report.

    Argue that the judgement was served improperly (I don't know... be creative... come up with several arguments... put your best sad face... lol). You are forcing American General or whomever the acct was sold to appear in court to prove the judgement process was done properly. If AG or the collection agency HAVE BEEN PAID , why would they go through the time and expense of showing up in court?

    If you show up and the creditor doesn't (which is what you want :) ), you win the case through default. Then you will have the legal ammunition necessary to have the judgement removed from your credit report.

    Good luck! there's almost no risk and you'll be doing to them what they did to you.
  9. roni

    roni Well-Known Member

    It threw me also.

    I did not like that either Saar. I was wondering how you would respond to that. Can we just list our own names and not get too fancy around here. There is a lot of strange things going on at this site lately. Gosh.

  10. Cadillac408

    Cadillac408 Well-Known Member

    RE: My Reply

    And that's what I did Larry. But for the reason, I stated that the money was already paid to AG on such and such date, etc. Hope this works...I can't see why it wouldn't???

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