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I have a judgement (from a credit card) with Asset Acceptance. The judgement date is May of 2007 (on my birthday to be exact- how nice).
Recently they have started sending me letters with settlement offers- saying they will take $3,000 instead of the $6900+ I owe. According to my reports- this is supposed to stay on until 2014- I need to get it off- but don't have the $3k now (I will in February). Do I just ignore the letters for now- and in February when I have the money- offer a settlement amount? Also with judgements- since they can only be removed if they are vacated- is there anything I need to do differently? Or will I just need to suffer the consequences of my poor choices and have it showing "satisfied" for 2 more years on my credit report?
Whether to accept their settlement offer at this time is, of course, your personal decision. If you dont, you may just be able to wait and make a counter-offer at a later time, but what they do in the interim is their decision, not yours. They could go back to the court and request an order for execution of the judgment at this time, asking for attachment of assets or garnishment of wages. Who knows? They have a judgment, and may decide to move forward on its execution.
As for removal of the judgment upon satisfaction of the debt, some jurisdictions will vacate a judgment upon a showing of satisfaction, but it varies by jurisdiction.
YOu migh place a call to the clerk of the court and ask them how the court has previously handled such motions to vacate based on payment.
@RobertEG wrote:Whether to accept their settlement offer at this time is, of course, your personal decision. If you dont, you may just be able to wait and make a counter-offer at a later time, but what they do in the interim is their decision, not yours. They could go back to the court and request an order for execution of the judgment at this time, asking for attachment of assets or garnishment of wages. Who knows? They have a judgment, and may decide to move forward on its execution.
As for removal of the judgment upon satisfaction of the debt, some jurisdictions will vacate a judgment upon a showing of satisfaction, but it varies by jurisdiction.
YOu migh place a call to the clerk of the court and ask them how the court has previously handled such motions to vacate based on payment.
They do a garnishment on my tax returns every year. I am self employed and a stay at home mother- so there hasn't ever been wages for them to garnish. My husband and I do EVERYTHING with cash (which is part of my score being so low- I have NO credit cards), so it's not like I have money sitting in a bank they could go get.
I will call the court and ask. I fully have every intention of paying this- I'm not trying to get out of it in anyway shape or form- just not sure if I should contact them and do an offer for February right now- or wait until February?
I wonder if I make a settlement offer for them next February if they still would get an order to garnish my tax returns? lol