Wow! That's rough! You are very luck that it hasn't reported as a civil judgement! Mine just reported as a public record, but there is no dollar amount attached to it. I was going through a debt consolidation through the court system (an awesome option in WI that not many people know about) but my court date with the creditor happened before the judge signed off on my debt consolidation It is all paid off now though and can't wait to see what kind of impact that has on my credit scores, if any. I am hoping to buy a house before the end of summer and my mortgage scores are moving up slower than the speed of molasses!
Oh, trust me, it's even worse than what I have explained. There is a lot more BS Wells Fargo pulled. They charged me nearly $1,200 (it was $1197.xx) for "Credit Defense" over the 7+ years I had the card. I didn't even agree to this charge but didn't really pay attention to my monthly charges back then (Yes, I was an idiot to not look closely at my bills).
"Credit Defense" was for people who lose their job or have a medical emergency that limits them financially (or so Wells Fargo says). If approved, they would pay my minimum payments for 6 months.
Before my account closed, I tried to get Wells Fargo to enable this "Credit Defense." Before the account closed I supplied my unemployment checks to them to show I was, indeed, unemployed. They made one "Credit Defense" payment then refused to make the other 5 payments, closed the account, sued me by sending the summons to my parents address where my father thought it was his because we share the same name, then we settled the debt BEFORE the court date (the judge postponed it a week because I was so lost as to what was going on), in that week I agreed to a settlement and Wells Fargo still sued, and won, despite all of this.
Seriously, I feel like it's a bunch of crap...but I'm sure everyone who has been sued and lost feels like they were wronged. It's just the way it is and I just gotta move forward and try to improve.
And, you're right, I am super lucky it hasn't reported as a civil judgment yet.
Good luck to you and your mortgage scores. I, for one, am rooting for you.
There oughta be a law (from the comic strip of the same name by Jimmy Hatlo)
That creditors and credit bureaus report and reflect the good as quickly as they report and reflect the bad.