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Satisfied Judgement?

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roger09
Established Member

Satisfied Judgement?

Quick question... I have a satisfied judgment on this account but it's showing balance after I paid settlement to satisfy judgment.  I was wondering should I dispute balance or let it fall off? When exactly is it set to fall off? Thank you in advance.

 

 

 

Account Number:CITIFI-200909016XXXXStatus: 
Account Owner:Individual Account. High Credit:$3,861  
Type of Account :OpenCredit Limit: 
Term Duration: Terms Frequency: 
Date Opened:10/2008  Balance:$2,270  
Date Reported:07/2010 Amount Past Due:$2,270  
Date of Last Payment:06/2010 Actual Payment Amount:$57  
Scheduled Payment Amount: Date of Last Activity:N/A
Date Major Delinquency First Reported: Months Reviewed:18
Creditor Classification: Activity Designator:N/A
Charge Off Amount: Deferred Payment Start Date: 
Balloon Payment Amount: Balloon Payment Date: 
Date Closed: Type of Loan:Factoring Company Account (debt buyer) 
Date of First Delinquency:04/2005 
Comments:Collection account  
Message 1 of 10
9 REPLIES 9
RobertEG
Legendary Contributor

Re: Satisfied Judgement?

The CR you are reviewing appears to be a hodge-podge of reporting.

 

You actually have two "accounts" to be considered and reported on, not one, as your CR implies.

 

Most of what is provided relates to the collection, but interjects a bunch of info from the OC account.

Reporting made by an OC and a debt collector are retained in two entirely different segments of your credit file.

OCs report date opened of your account with them, last payment, high balance, amount due, etc.

Debt collectors dont report those items.  Debt collectors report the "date opened" of their collection, which is the date they received collection assignment from the OC.  You dont have an "account" with a debt collector, and thus dont have delinquencies reported by them.  They report the unpaid debt that they are attempting to collect.  They dont report OC account information on prior payment history, etc.

 

Following is how each account should now read:

If the judgement was satisfied, the OC account should be updated to current status of "Paid."  the debt balance should be updated on the OC account to read $0.  The judgment will still appear, but under your Payment Rating code and payment history, not your current status.

The debt collector should update their collection reporting to read closed, $0 balance under collection.

 

Not having each party accurately update their reporting incorreclty informs anyone reviewing your CR that you have an unsatified debt.  While the necessary updates dont affect deletion of the judgment from your CR, the current state of lack of updates incorrectly paints a negative picture.

Message 2 of 10
roger09
Established Member

Re: Satisfied Judgment?

Thank you for the response. I went ahead and disputed the amount. One last question, the DOFD is 4/2005, so can I expect it to come off of credit report 4/2012?

Message 3 of 10
2NE1
Established Contributor

Re: Satisfied Judgment?

 

I want to say YES... seven years is the limit to be on your CR. At least to my understanding! >.<

Message 4 of 10
roger09
Established Member

Re: Satisfied Judgment?

@2NE1 That's what I think but the date opened is 10/08 and DOFD is 4/05... I'm confused.

Message 5 of 10
hoping2rebuild
Established Contributor

Re: Satisfied Judgment?

Credit reporting time goes from the DOFD


Starting Score: 377EQ/350EX/400TU As of 11/2011
Current Score: 620EQ/614EX/612TU As of 01/2013
Goal Score: 700+ across the boards
Message 6 of 10
roger09
Established Member

Re: Satisfied Judgment?

Nice, well I disputed amount due, I hope it still comes of CR 4/12

Message 7 of 10
Booner72
Senior Contributor

Re: Satisfied Judgment?


@hoping2rebuild wrote:

Credit reporting time goes from the DOFD



A judgment stays 7 years from the date the judge signed the paperwork to officially file the judgment.

 

For anyone out there who has a judgment, be sure that you check the court records and make sure it is a truly filed judgment signed by a judge.  CA's are known to get judgments reported on Credit Reports that aren't even true judgments, they use the case # and cheat to screw your credit.  Get copies of all court records from the court before doing anything with a judgment so you know what is real and what isn't.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Message 8 of 10
RobertEG
Legendary Contributor

Re: Satisfied Judgement?

DOFD has absolutely nothing to do with a judgment.  DOFD only applies to collections and charge offs.

In fact the running of the 7 year period for a judgement is not pegged at all to any date of delinquency on the OC account.

It runs from the date of entry of the judgment.  FCRA 605(a)(2).

Message 9 of 10
lperez2000
New Visitor

Re: Satisfied Judgement?

I have a judgment reported in my CR which appears satisfy as of 12/02/2010. I have obtained a satisfaction for judgment from the court (NY). However, the collection agency contacted me again, and offered me a deal which I accepted, thinking it was another of my credit card debts. Now I've come to realized I paid again for a judgment that's been satisfied since 2010.

 

I contacted the collection agency but they claimed I didn't pay in full and that the court can just provide me with a satisfaction of judgment even if I didn't pay in full.

 

Is there anyway for me to get the money back from this collection agency? (Mel. S Harris and Associates)

 

Thanks all in adavanced for your help. It'll be much appreciate it.

Message 10 of 10
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