Dad/brothers joint JUDGEMENT

[Kostya1992]

Pulled from their TU report:

Reference Number
xxxxxxxxxxxxxxxxxx
Court
Superior Court
Date Filed
Jan XX, 2010
Date
Dec XX, 1969
Status
Filed
Amount
$21,XXX
Classification
Legal Item
Type
Judgment
Responsibility
Joint
Plaintiff
XXXXX MOTOR CREDIT

They're being offered to settle it for a few thousand. I'm telling them to leave it alone, it'll fall off in less then 2.5 years. There's also a possibility that it'll hurt their credit score if they "awaken" this debt right? Also whats with the 1969 date?

Is my advice correct? Will them making a payment on this judgement "restart" the 7 year clock for it falling off their reports? Is it possible to GW this judgement? Thanks.

[Whitneyy]

I've read on here that judgments sometime report indefinitely! 

[Kostya1992]

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@Whitneyy wrote:

I've read on here that judgments sometime report indefinitely! 

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I think that's if they aren't automatically removed. From what I understand, if they are being reported past the 7 year mark, you just dispute them and the agencies are required by law to remove them? Any and all insight is welcome!

[Kostya1992]

Anyone???

[Anonymous]

Judgements are generally not something to ignore, unless they are "judgement proof", meaning that collection attempts are futile, due to their lack of income, or income type. If for example the father is on SS and the brother is disabled or something. However if both are gainfully employed they risk wage garnishment at any time.

Paying it will not reset anything (report wise) but the judgment itself can be "renewed" every few years (depending on your state) if not paid. I would advise settling it if they can do so.

You can't GW a judgement. Some states allow the judgment to be removed or vacated if paid or settled.

[RobertEG]

Aside from any credit reporting issues, the judgment is a court order that they pay.

Judgments have periods of enforceability, normally ten years, which can normally be extended.

If the judgment remains unsatisfied, the prevailing plaintiff can go back to the court and request an additional order specifying terms for payment, such as garnihment of pay.

I would never advise one not to pay when a court has ordered them to do so, and can continue to exercise its authority get the $$ without first consulting an attorney.

As for the credit reporting isssues, judgments are normally excluded after 7 years from their date of entry.

However, CR exclusion does not mean the consumer is no longer required to pay, or that others wont become aware of the judgment via means other than a simple pull of the consumer's credit report.  It remains in the public record, and can readily be found by a public records search.

Judgments are normally not "reported" by the prevailing plaintiff or the courts, they are obtained by the CRAs via public records searches.

CRAs dont do GW deletions of accurate information.