I posted a couple of weeks back about one of my credit cards (Discover) suing me. I have since then received an official notice from the judge validating that in fact a judgement was granted on behalf of the creditor. My problem is now, I have agreed to make payment arrangements with the attorney who originally issued the judgement against me. My credit history is in a pretty grave state right now, I have three charge offs, 2 accounts in collections and student loans and three accounts that are in good standing, I am going to try to pay these charged off accounts now that I'm gainfully employed (I had just had a baby and was later laid off seven months later), which contributed to the accounts becoming delinquent in the first place. My question is, I keep reading about how it's not a great idea to pay the charged off accounts. I figure since I'm making payments on my judgement, I should just go ahead and try to pay off (or at least settle) the other accounts. My credit score with Trans Union is currently a 534 from my July statement (it went down from 576 in May). Being that my score can only get lower, I figure what the hell? I'm sorry for the extremely long post, but I don't know what else to do and unfortunately neither does any of my associates
Work on the judgment first. That is a major score killer. See if you can get the judgment vacated for improper service. Approach the creditor the offer of settling the judgment in exchange for him stipulating that the judgment be vacated due to lack of service. My story goes like this... 2000 receive a default judgment for $1410.00. 2002 satisfied the judgment with the CA for $1000.00. 2004 file a motion with the court to vacate judgment due to lack of service. CA's attorney shows up and sees the judgment has been satisfied. agrees to let judgment be vacated. Instant score increase! tix
