Rebuilding Your Credit

[hopeful5]

Can anyone help me with thse items, I am confused as to what the right steps would be:

Judgement filed 8/2005

CO with Cap One opened 09/2002  date closed 3/2004  Remark:  Profit and loss writeoff

Estimated schedule to be removed:  8/2010    Last updated 1/2005

Midland credit Mgmt  Placed for collection 10/2003   Updated 1/2009

[llecs]

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hopeful5 wrote:

Can anyone help me with thse items, I am confused as to what the right steps would be:

Judgement filed 8/2005

CO with Cap One opened 09/2002  date closed 3/2004  Remark:  Profit and loss writeoff

Estimated schedule to be removed:  8/2010    Last updated 1/2005

Midland credit Mgmt  Placed for collection 10/2003   Updated 1/2009

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Is the judgment for CapOne or MCM? Or is it unrelated?

Is MCM related to CapOne?

Are there balances on CapOne or MCM?

[hopeful5]

unrelated civil judgement is from MRC Receivables Corp

balance $3389 on Cap One

balance $1564 on MCM

[llecs]

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hopeful5 wrote:

unrelated civil judgement is from MRC Receivables Corp

balance $3389 on Cap One

balance $1564 on MCM

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If you are past SOL or have the $$$ to PIF, then offer a PFD to CapOne. They are a tough nut to crack. I have never seen a successful PFD for CapOne. I tried it myself for DW's account too. They don't budge and they are very quick to sue if inside SOL. IMO, try a few times with the PFD. If that doesn't work, IMO, pay them in full. Likely it is still being factored into utilization and paying it could easily help your score. But don't sent any letters until SOL expires or you have the $$$.

MCM - if you have the $$$ or SOL expired, then DV. If they verify, them PFD.

PR - Do the same, DV, then PFD if verified and ask for the judgment to be vacated. Maybe someone else can chime in though. I'm a bit weak on PRs.

[Wonderin]

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llecs wrote: 

PR - Do the same, DV, then PFD if verified and ask for the judgment to be vacated. Maybe someone else can chime in though. I'm a bit weak on PRs.

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Unfortunately, PRs can't be DVed. The time to DV a debt that resulted in a judgment (or any other PR) is *before* it became a PR.

The OP's lost all bites at the apple in forcing the creditor/plaintiff into *proving* that it's an accurate debt. The best s/he can do is see if there are grounds for a vacatur (suit was filed on a time-barred debt, improper service, etc) and then respond to the court with a demand for proof of debt (if the plaintiff/creditor re-files).

[hopeful5]

okay, how do I know if they are still within SOL (New Jersey)

and sorry but what is PR?

[hopeful5]

Public record, sorry!  So I can only pay in full at this point and then it still remains for 7 years as Paid