Established Member
hschiel
Posts: 16
Registered: ‎08-28-2007
How do I pay a judgement?
I've searched this forum and didn't quite find the answer to my question.  I have a judgement from four years ago that I need to satisfy before I can get a home loan.  I would like to know the safest procedure in paying the judgement.  The original creditor has offered (over the phone/nothing in writing) a settlement amount.  Do I send a letter stating the amount that was offered over the phone in exchange for a satisfaction letter?  I'm worried that if I just send the guy a check that he gets his, but I don't have any proof on my end that I took care of it.  How should I proceed?
Moderator Emeritus
ByrdMan
Posts: 7,975
Registered: ‎12-19-2007
Re: How do I pay a judgement?
See if you can get them to vacate the judgment, IN WRITING, in exchange for payment. If you're up against it with the loan, you might not have a lot of time to mess around.
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Established Member
hschiel
Posts: 16
Registered: ‎08-28-2007
Re: How do I pay a judgement?

I'm not exactly sure what vacate means.  Does this mean they can't refile after the SOL?  Also, can I mandate that the account be deleted from my credit report as a condition of my paying the judgment?  I've adapted the PFD letter that I found on this site.  Does this sound reasonable?

 

This letter is in regards to a judgment held against me by CREDITOR.

 

I am willing to pay this account IN FULL (or settlement percentage) if you agree to immediately vacate the judgment and delete this account from any and all credit reporting agencies (Equifax, Experian and TransUnion).

 

If you agree to the terms and accept this agreement, certified funds for the settlement amount of DOLLAR AMOUNT will be sent to CREDITOR in exchange for immediate vacation of the judgment.  As certified funds will be used for payment, there shall be no waiting period regarding the vacation of the judgment.

 

CREDITOR agrees to vacate the judgement regarding this account WITHIN TEN CALENDAR (10) DAYS following receipt of payment as specified above and will not discuss the terms of this settlement with anyone. If contacted by any third party, including credit-reporting agencies, CREDITOR will not acknowledge that any settlement offer was made, accepted or executed and will, in fact, deny knowledge of any such account.

 

If you agree to the above terms, please prepare a letter on your company letterhead explicitly agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of CREDITOR. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.

 

I'm not sure how any of this works to be honest.  Thank goodness it's the only judgment on my report.  Can a judgment be removed like any other accounts?  (Assuming the creditor is up for it, that is.)

Mega Contributor
RobertEG
Posts: 17,732
Registered: ‎03-19-2007
Re: How do I pay a judgement?

A creditor cannot vacate a court judgment.  They can only motion the court to vacate.

Settlement of a judgment is not the same as vacating aq judment.  Only the court can vacate, upon motion.

Valued Contributor
demed
Posts: 1,255
Registered: ‎05-12-2008
Re: How do I pay a judgement?

i'm not expert, but you should ask the court clerk if they have a standard form to vacate judgements or you might need to ask an attorney what is the normal practice in your court.

 

then you should get the motion to vacate filled out - with a space for the creditor to co-sign with you.

 

then in your letter you should reference a request to cosign the motion to vacate and attach a copy to it.

 

when then check gets cashed the creditor should send the form signed back to you and you can present it to the court. in some cases there is a hearing, in many cases not and the judge just grants it.

 

but proper legal or court clerk advise is necessary to understand exactly how to proceed in your jurisdiction.

Feb 08 550s - Oct 08 700s
Thank you MyFico!
Established Member
hschiel
Posts: 16
Registered: ‎08-28-2007
Re: How do I pay a judgement?

So that makes my letter a no-go, but it definitely moves me in the right direction.

Established Member
hschiel
Posts: 16
Registered: ‎08-28-2007
Re: How do I pay a judgement?
One last question.  My credit report shows the creditor who obtained the judgment and the name of their law firm, but not the court.  Since this took place over four years ago, how do I go about getting this information?
Moderator Emeritus
Posts: 11,562
Registered: ‎08-29-2007
Re: How do I pay a judgement?

hschiel wrote:
One last question.  My credit report shows the creditor who obtained the judgment and the name of their law firm, but not the court.  Since this took place over four years ago, how do I go about getting this information?

 

It should have been filed in your local court unless you had moved from the state after opening the account.
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Established Member
hschiel
Posts: 16
Registered: ‎08-28-2007
Re: How do I pay a judgement?
No.  It was filed in another state.  I live in New Mexico and the judgment was granted in Missouri.  The creditor is in Kansas City.  Do these things happen at the county level?  I'm sure I can find contact info for the court, I just don't know what court to look for.
Valued Contributor
demed
Posts: 1,255
Registered: ‎05-12-2008
Re: How do I pay a judgement?

Have you ever lived in Missouri? Did the contract get signed in Missouri? Were you properly served?

 

If none of the above you shouould ask to vacate the judgement for improper venue in violation of the FDCPA, and lack of proper process - I believe.

Feb 08 550s - Oct 08 700s
Thank you MyFico!