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Okay I had a large judgement that was due to roll off my reports this month and after checking my reports weekly, it's finally fell out of all three. The amount was listed at $14K and was my biggest derog. BTW - the original junk debt firm was bought out by another firm last year and I've been getting quarterly notices to pay/settle the account. The last notice had the balance at $23K with interest. BTW the original CO was for Providian and amount was 2K. Earlier in the year I had contacted a lawyer who deals in credit issues and BK in Texas reviewed the court papers and my credit files. I was ready to negotiate out of this mess but he said why if it's going to roll off in July? I agreed and decided to wait it out.
Questions: Anyone else have a judgment roll off? Did the scoundrels renew it and have it placed back on file? Am I at risk of a future appearance?
Please share and give feedback if you can.
Just because it is off your CR does not mean it has gone away - it is a Public Record and will likely be collectable viewable for 10 years (depending on your state). It can also be renewed. Some states won't let it be renewed if there have been no collection attemts in 5 years - again, check your state laws or have your attorney fill you in.
You're not necessarily at risk of a "future appearance," but you are at risk for liens/garnishments.
If you apply for an auto loan or a mortgage (especially a mtg), it will likely be seen by the UW and your loan denied because a lien can be put on real property. If you anticipate needing either of these in the future, you may want to take care of it now.
And 23K from 2K? Crazy! Good luck with this.
The credit reporting rules for judgments are different from the rules that would apply to the original debt. The (FCRA) states that judgments must be removed from credit reports after seven years from the date of entry "or until the governing statute of limitations has expired, whichever is the longer period." SongsOfExperience is absolutely correct with regard to public record access to the unpaid debt. In short, the judgment entry cannot be re-entered on your consumer credit profile.
Wanted to give everyone an update:
Judgement still off all reports.
I have over the last 30 days been working at getting my med collections (total 20 entries across all three CRAs) off my reports and have used the method we're not allowed to discuss here.
Since intiating that method I have a clean TU report and only 1 left on EX and 3 left on EQ.
MY TU Score is not 735
My EQ Score is still 680
My Experian Jumped 69 points to 703 almost over night! See below!