Judgment Possible BK Help

[Anonymous]

Hi everybody,

I asked this question in the other forum and it was suggested I post it here. Sorry it is so long, but I am in desperate need of some good advice.

I have a few questions about a judgment and need some advice. The default judgment was granted because I was not served a summons and never showed up in court to fight it. The judgment is from August 2000. Eight years ago this week in fact. This past Saturday I received a letter from an attorney's office that specializes in "collections". They said I owe the original amount of the judgment plus interest and attorney's fees for the past 8 years. (They are not the original attorney listed on the judgment form.) They threatened to put this judgment on my credit report (which to this date it has never appeared on any of my reports) and threatened to take my wages and any other means necessary to collect the debt. I just got married this year, my wife is expecting our first children (twins) and they threatened to take her wages and bank accounts too since California is a community property state. This is having a very bad affect on her. I need some answers if at all possible...

1. How bad does an 8 year old judgment affect credit scores? Mine were very low already (FICO 545), but in the past three months I received two CC's (my first since the 80's in fact) and an Auto loan and they were starting to climb out of the hole they were in. (Broke 580 the other day, my goal was 600 by the end of the year)

2. If they put it on my report now, does it fall off in two years since it is from 2000, or does it start the 10 year clock as of when it is reported?

3. If/when they do a wage garnishment is that considered starting the SOL/DOLA?

4. Although it is my debt, and I would be willing to make some form of payment plan to keep this from hitting my report these bloodsuckers want payment in full. The original amount of the judgment is $1974.82, and the letter states I now owe over $6,000.  They said in the letter if I pay them in full they won't report to the CRA's...  problem is with the bills I have and my wife's medical bills and no health insurance, I am very fortunate that I can make ends meet now, and still have money left over for food and a movie every now and then. It is not like we are living the high life here. They also did a hard pull and pointed out to me over the phone that the other two creditors on my reports were paid in full (One for $121 and one for $90) and they expect the same "respect".

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5. I have 30 (now 26) days to respond to them. I contacted a lawyer he said it is too late to have the judgment vacated, usually you only have 60 days in California to have a judgment overturned. He also said Bankruptcy is an option. If I am forced into a BK over this debt (because a wage garnishment will probably cost me my job) can I keep my two CC's and the new car?

Sorry this is so long, I am literally almost in tears as I type, and am in desperate need of help. Any suggestions on what to do is appreciated...

[granny031350]

unfortunately for a judgment, the file date is the date the credit bureau's go by.  However if this is an 8 year old debt then it is beyond the statue of limitations.  Check out the SOL for your state and build your defense.  DO NOT MISS THE COURT DATE.  And use the SOL as your defense.  A debt that old is not collectable.

[Anonymous]

Hi, I already missed the court date, the court date was in August 2000... eight years ago. The judgment never reported to the CRA's, now I get a letter from this attorney/ca demanding payment in full. My question is, if they report the judgment to the CRA's now, does it go by the date of the judgment or does it start with today's date?

[mssher]

I read that debts older than the SOL are UNCOLLECTIBLE and therefore CANNOT be reported to the credit bureaus!  Can anyone else confirm that?