Trying to do the right thing! How do I pay off a Judgement??

[AnimalCrackers]

Hello all! I am sincerely trying to pay off two judgements I have against me from old credit cards. They are no longer on my credit report as acocunts (I guess because it is past the statute of limitations), but they are on something called a Public Record. I never thought it was a big deal until I recently tried to buy I home. They said I must satisfy these before I can proceed. Suprisingly, my credit score is decent. I have student loans and a car note that are all in great standing and no other accounts.

I never got a notice to appear in court, as they delievered them to my place of address where I went to college long after I had graduated (years). I dont dispute the debt is mine, so I would like to pay it but my only concern is HOW to pay it correctly. I'm scared that if I call the companies listed on my credit report that they will start the SOL over or worse, put it back on my credit. But at the same time, I know they are the only ones that can potentially settle for lower amounts. One is $1900 and the other is $2100 and I could settle both of those at 50% today but not the full amounts. Accounts are with Portfolio Recovery Associates and Midland Funding.

So here are my questions:

1. Is it a possibility that if I contact the debtor and/or the attorney listed on the docket that they would restart my SOL or re-report on my credit?

2. Has anybody had any luck with settling judgements at 50%? How do you go about doing that?

3. If you do settle, is there a chance they could come back after you for the remaining balance?

4. Since it is past the SOL, is it better to just call the courts and pay theem the full amount with interest with a payment plan or something?

I just need to know where to begin! I really need to obtain a home this December to avoid renewing my lease for another year.

ALL HELP IS SINCERELY APPRECIATED!!!! 

[Anonymous]

SOL is not really applicable as you have ALREADY been sued - thats what SOL is. Judgements have "enforceability periods" that varies by state and can usually be renewed one or more times. You need to look up your sate laws to see if its still enforceable.

Reporting has already passed on it, it cannot be reported agin.

Whether you can pay the court directly is up to the court. You'll have to contact the court for that info.

[AnimalCrackers]

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@Anonymous wrote:

SOL is not really applicable as you have ALREADY been sued - thats what SOL is. Judgements have "enforceability periods" that varies by state and can usually be renewed one or more times. You need to look up your sate laws to see if its still enforceable.

Reporting has already passed on it, it cannot be reported agin.

Whether you can pay the court directly is up to the court. You'll have to contact the court for that info.

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Thank you for your response!

The Judgements were in 2010 and 2011 so they are definitely enforceable for up to 10 years and then they can be renewed for another 10 years in Georgia. I contacted the courts and they said I could pay them directly for the full amount and pay $7 for a Fifa (whatever that is) to report it as satisfied. She stated that with paying the courts, I would have to pay the full amount although they do allow payment plans. 

The court suggested that I contact the attorney on the docket or the company to settle, because usually they will. She said even after paid, the judgment will likely stay but state that it was satisfied. She stated that it should fall off in 7 years if paid, but wasn'tm sure. It seems like they get tons of calls/questions about this.

I think I will go ahead and contact the companies listed on the report, since the attorney is likely representing them anyway. Hopefully they will settle for half of what I owe. Although I am nervous that they may not, since technically they could garnish me for the full amount.

I will post an update when I speak to them for those like me who are lost about where to start!

[Ladybugz]

Thanks for the post AC. I am in GA also with two paid judgments from 2012 that I'd like to remove from my CRs. I know our situation isn't similar but I'm very interested in reading your update so please keep us posted.

Good luck to you!