Afternoon all! Helping someone rebuild their credit after recent success with mine.
Theres a judgement against them currently unpaid, I'm going over their options to get it removed from their credit report.
I had originally suggested they talk to the creditor and see if they can work a deal for payment = vacate, however after reading more into NJ laws I noticed these laws posted:
http://www.judiciary.state.nj.us/rules/r4-50.html
Now I notice under R 4:50-1, option (E), " the judgment or order has been satisfied, released or discharged, or a prior judgment or order upon which it is based has been reversed or otherwise vacated, or it is no longer equitable that the judgment or order should have prospective application"
Now does this mean if they pay/satisfy the judgement, it gives them grounds to file a Motion To Vacate (in New jersey)?
If that is indeed a law in New Jersey, is it quite as simple as:
1: Pay the judgement
2: File a Motion To Vacate under R 4:50-1, Judgement has been satisfied
3: Dispute the record with the CRA's after its been vacated?
The reason I'm looking at this option is because most likely, the creditor wont accept a Pay For Vacate attempt unless its the full amount.
Now if the R 4:50-1 rule means what I think it does, then that gives a good chance at working a deal with the creditor to satisfy the judgement for a lesser amount, and then once its satisifed, file the motion to vacate. Therefore they'll end up not having to pay the entire amount.
Or am I missing something in the rule?
Thanks!
