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Correcting a BIG error on my credit report

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Correcting a BIG error on my credit report


My question involves personal finance in the State of: CA

About 6 years ago, I was involved in a suit, in which my E and O insurance company dropped the ball and didn't defend me. As a result, I was hit with a default judgement for $1,000,000. I got the insurance company to do their job and the judgement was set aside. I have the judge's order for it. The suit went ahead and was settled out of court. Problem is, a release of judgement was never filed nor recorded.

Now, a release of judgement has been filed and recorded and I am in the process of trying to fix my credit. I am sending a letter, drafted by my loan officer, that says the $1,000,000 judgement has now been "paid in full". My concern is that was not really the case. It wasn't paid in full. It actually never existed. If I send something to the credit reporting agencies that says that, I may do further damage.

Should I be sending a letter just staing the judgement has been released?

What should I do?

Thanks to all who chime in.
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Established Contributor

Re: Correcting a BIG error on my credit report

IMO, start with the courts showing that it was vacated...I believe that is what you will need in order to send to the CBs.

Filed BK 12/5/14
341 meeting 1/9/15
Anticipated discharge 3/10/15

Goal: 700 by 3/2017