Notice of Foreign Judgement

[Anonymous]

If someone receives a notice of foreign judgement for a "voluntary" reposession that occurred in 2002, and judgement (approx. $8100) is already listed on his credit report (due to expire June 2010), what would be the best action to take...considering it's the only derogatory item listed on his credit report AND he's only working part time and unable to pay the amount due?

[llecs]

If the judgment already occurred, then there's nothing that can be done, other than to pay it. If there's no money to pay, then the only thing to do is sit tight. Now there could be a garnishment involved, but if there's no income coming in, then they can't garnish anything.

[Anonymous]

But if the judgement is already on the credit report in one state, will it be reported again on the credit for the foreign judgement being filed in another state?  That would seem duplicative...and that's where the confusion stems.

[Anonymous]

Few years ago I had someone file a foreign judgement in almost every county in my state,,,,just in case you move there they said. Everyone will hit your credit score. It was the only baddie I had. It took me forever to clean that bad mistake up.

[settleordelete]

Check the judgement letter for dates that might help you with your states statute of limitations...and what actions they can and cannot take against you...like garnishments and liens against other property.GOODLUCK!

[champ02]

What state do you live in?  I faced a somewhat similar situation a couple of years ago but was "saved by the SOL".  Check out the info at this link: link removed.

While the info within that link was great, it contained info on the home page that violates our Credit Repair Discussion Guidelines, Terms of Service, and User Guidelines that prohibit the promotion of certain types of credit repair.

However, I found a similar link that may be of interest:

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=38198

and  http://www.bankrate.com/brm/news/cc/20040116b2.asp

Message Edited by llecs on 02-08-2009 09:44 PM

Message Edited by llecs on 02-08-2009 09:45 PM

[Anonymous]

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@Anonymous wrote:
But if the judgement is already on the credit report in one state, will it be reported again on the credit for the foreign judgement being filed in another state?  That would seem duplicative...and that's where the confusion stems.

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It will (report another TL with each domestication) and in MHO, it is (duplicative).

There's no way out of it unless you actually pay it off. Once that's done, they no longer have the necessity (or ability) to domesticate the case in other jurisdictions.

That sucks, I know. But that's just one reason WHY creditors like domesticate judgments like that. It also serves to roughly keep tabs on you on the off chance they want to file for garnishment.

[Anonymous]

Just a reminder: Make double sure to check your SoLs on this debt (check the state where the original judgment originates from) and see what the judgment's SoL is for that state.

If the SoL allows renewal of judgments every X (usually 10 years) years, you could be looking at, if they decide to renew the judgment, another ding on your report when they renew (since it will read as a "new" judgment).