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Established Contributor
dharalex
Posts: 607
Registered: ‎09-08-2011

Rebound from judgment

I posted last month that a paid judgment appeared on my cr out of the blue. My FICO TU score was 722 and it dropped to 682. This month, it rebounded to 709! Go figure! Can anyone think of why this will happen? If I try to refinance my home or apply for credit, will I still likely be denied because the judgment is there at all, or will a decent score and the fact that it was paid 2.5 years ago help??


Starting Score: TU:676;EQ:648 8/2011
Current Score: TU:738; EQ: 739 ;EX: 729 6/2012
Goal Score: 760


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Established Contributor
casmith1980
Posts: 633
Registered: ‎03-20-2010

Re: Rebound from judgment

Sorry if I missed it, but how old is the judgement that you paid off 2.5 years ago?

 

I wonder if you saw an increase because of the "age" is all.

 

Have you tried having this vacated?

EQ Fico 2009 500's
TU Fico 2009 500's

EQ Fico 04/10/2012 663 (SW alert)
TU Fico 04/13/2012 653 (Walmart)

Goal: 760 by 12/2013 and close on my first house :smileyvery-happy:

Goal - 720 by 12/31/12
Established Contributor
2NE1
Posts: 914
Registered: ‎12-06-2011

Re: Rebound from judgment

[ Edited ]

 

@casmith1980 how do you vacate a judgment? do you do the process through the court? or can you do it with the OC/CA in writting? are there any extra fees to this? I would like to pay off my civil judgment AND HAVE IT REMOVED from my CR but I don't know where to start or how to go about it.

 

Thanks!


Starting Score: 486 EQ, 529 TU, 518 EX 12/6/2011 (FICOS - lender pull)
Current Score: 595 EQ SW 1/10/13 628 TU08 1/10/2013 593 EX (BoA HP) 1/5/12
Goal Score: > 620 for starters! :smileyvery-happy:
Take the FICO Fitness Challenge! | Platinum Spade Garden Club Member - GC Challenge: App free since 7/2012
Established Contributor
dharalex
Posts: 607
Registered: ‎09-08-2011

Re: Rebound from judgment

The original judgment was granted 2.5 years ago. I paid it off over the course of 1.5 years ago. It was never put in my credit report, but I guess the final payment flagged the cra. I have looked into vacating, but you can't really vacate a paid judgment. I researched a possible solution, but can't get an attorney to do it. The OC ( or law firm representing the OC) is not very accommodating, but I'm thinking about calling. If they really wanted to be nasty, they could have reported it in the first place. If you have any ideas, I'm open.


Starting Score: TU:676;EQ:648 8/2011
Current Score: TU:738; EQ: 739 ;EX: 729 6/2012
Goal Score: 760


Take the FICO Fitness Challenge







Current Score: 800
Goal Score: 850

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Established Contributor
2NE1
Posts: 914
Registered: ‎12-06-2011

Re: Rebound from judgment

 

so, you're saying that you can get a judgment vacated before paying it?

 

that's true, they could've reported it to your CR, which does make a great impact on your score like it has with mine. :smileysad:

 

what is this 'possible solution' that your attorney can't do?


Starting Score: 486 EQ, 529 TU, 518 EX 12/6/2011 (FICOS - lender pull)
Current Score: 595 EQ SW 1/10/13 628 TU08 1/10/2013 593 EX (BoA HP) 1/5/12
Goal Score: > 620 for starters! :smileyvery-happy:
Take the FICO Fitness Challenge! | Platinum Spade Garden Club Member - GC Challenge: App free since 7/2012
Established Contributor
dharalex
Posts: 607
Registered: ‎09-08-2011

Re: Rebound from judgment

You can vacate a judgment prior to payment under certain circumstances like you were not properly served or there were extenuating circumstances why you didnt make your court date, or you have evidence not available then that could effect the case. Vacating means you get a do over, basically. You still need to go to court and plead your case. As far as your second question, I read it works better if done with the aid of an attorney. You must have the cooperation of the OC. You petition the court to vacate the judgment, then get the case dismissed with prejudice. So then it's like it never happened and the cra must take it off. I think I'm going to try it, otherwise I have 5 years to wait for it to come off....not good!


Starting Score: TU:676;EQ:648 8/2011
Current Score: TU:738; EQ: 739 ;EX: 729 6/2012
Goal Score: 760


Take the FICO Fitness Challenge







Current Score: 800
Goal Score: 850

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Established Contributor
2NE1
Posts: 914
Registered: ‎12-06-2011

Re: Rebound from judgment

 

Yeah, I hear yah, waiting 7 years for that to fall off is too long and you can't do much with trying to open new CC, or obtain loans. Mine has been there for 3 years so I have 4 more left to go BUT this negative item has affected my job which is in jeopardy now.

 

I was reading that not being properly serve means you weren't giving the 30-day period to work out a solution, correct? I don't believe (nor remember) getting a letter by the OC or CA letting me know that I was gonna be sued. They just sent me the court date, I appeared in front of the judge but being so young in my early twenties and by myself I couldn't do much to defend me and couldn't afford to pay the debt. OC won the case and put it on my CR. What I'm wondering is IF the OC has proof, like a back-up letter/copy of me being "properly served" and all. Also, I was sued at a different county from where I live which I read it is a violation as well... unless it counts that you can be sued in the same county where you "signed" the debt agreement. I might probably have to hire a lawyer for this.


Starting Score: 486 EQ, 529 TU, 518 EX 12/6/2011 (FICOS - lender pull)
Current Score: 595 EQ SW 1/10/13 628 TU08 1/10/2013 593 EX (BoA HP) 1/5/12
Goal Score: > 620 for starters! :smileyvery-happy:
Take the FICO Fitness Challenge! | Platinum Spade Garden Club Member - GC Challenge: App free since 7/2012
Established Contributor
dharalex
Posts: 607
Registered: ‎09-08-2011

Re: Rebound from judgment

Sounds like you may have a valid reason to vacate. BUT, if the debt is yours, you still will lose the case unless the OC agrees to a payment plan in lieu of the judgment. I've still been able to get credit because it's not on EX, YET! I wish you lots of luck!


Starting Score: TU:676;EQ:648 8/2011
Current Score: TU:738; EQ: 739 ;EX: 729 6/2012
Goal Score: 760


Take the FICO Fitness Challenge







Current Score: 800
Goal Score: 850

Take the FICO Fitness Challenge
Established Contributor
2NE1
Posts: 914
Registered: ‎12-06-2011

Re: Rebound from judgment

 

I'm not sure what "payment plan in lieu of the judgment" means... I do want to talk to OC and try to settle to a lump sum amount that I'll be able to afford. If they agree to it, will I be able to have it vacated? disappeared from my CR? would I have to file this in court? I just don't think I can afford a lawyer atm. I've been barely saving up the lump sum amount I'm going to offer to the OC. *sigh* :smileysad:


Starting Score: 486 EQ, 529 TU, 518 EX 12/6/2011 (FICOS - lender pull)
Current Score: 595 EQ SW 1/10/13 628 TU08 1/10/2013 593 EX (BoA HP) 1/5/12
Goal Score: > 620 for starters! :smileyvery-happy:
Take the FICO Fitness Challenge! | Platinum Spade Garden Club Member - GC Challenge: App free since 7/2012

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