topic Re: OLD Judgement / Income Execution Notice in Rebuilding Your Credit

OLD Judgement / Income Execution Notice

Anarchy — Thu, 19 Jan 2012 07:43:36 GMT

Just received a letter in the mail for an "Income Execution Notice" requiring payments from my job earnings. Thing is, this was from an old judgement from 2003-2004 (I live in New York State) by the way and this was for an Auto Loan. Shouldn't the SOL been expired now?

The last Credit Report I pulled (last month maybe) it was finally gone and deleted after all these years.

That damn baddie/derogatory has been haunting me for years on all my credit reports.

I finally did my 7 years (Isn't it 7 for NY?) and just now I'm receiving this letter.

Someone told me if I acknowledge it or contact the lawyer, that alone can RENEW the SoL.

What should I do? How should I go about this? Will they freeze my bank accounts? Can they collect my job wages?

Lastly, I looked up my case # in the online WebCivil Court System website and found:

Filing Date: 5/2004

Disposition Date (Not sure what that is): 9/2007

Case Status: Disposed

^ What does that mean?

Guys, I am pleading for your help. This judgement was the reason my credit got destroyed years ago, I have been loyal to this website and learned a GREAT DEAL from you all. I went from a 594 Fico score to 750 because of YOU guys. I have finally, after so many years, established GOOD CREDIT, I have 0 DEBT and my Utilization is below 5%. I want to maintain my awesome credit and continue doing great things. Please advise me what to do.

Re: OLD Judgement / Income Execution Notice

RobertEG — Thu, 19 Jan 2012 08:17:28 GMT

Once a judgment is entered by the court, the SOL is no longer material. SOL governs the time they have to initiate legal action.

Specific actions such as taking of property or garnishment of wages are orders made by the court for execution of the judgment.

If the court granted the prevailing plaintiff a judgment on the debt, then the court can also, as a part of the judgment or in response to a motion by the prevailing plaintiff, also execute a writ of execution of the terms of the judgment. There is no statute of limitations on a judgment of the court.

Contact the judgment court and get a copy of any and all documents related to their order of execution of the judgment.

Re: OLD Judgement / Income Execution Notice

Anarchy — Thu, 19 Jan 2012 19:32:31 GMT

This judgement was entered in the court 8 years ago, do I still have to pay this?

Once it fell off my report few months ago I was the happiest guy ever, I thought I was done with this all.

I guess I'll take your advice and contact the court.

Re: OLD Judgement / Income Execution Notice

Booner72 — Fri, 20 Jan 2012 00:39:41 GMT

Judgments have a longer shelf life than normal debts. You are probably going to have to pay. They can be renewed.

Re: OLD Judgement / Income Execution Notice

RobertEG — Fri, 20 Jan 2012 02:24:51 GMT

Some debt does, in fact, have a separate statute of limitations running from the date of a court judgment. You need to check out your state laws for any such provisions. Any such statute is not related to the initial statute of limitations for bringing legal action.

Most judgment creditors, if they have gone to the trouble of pursuing the debt to judgment, are well aware of any such limitations, and will simply go back to the court within any period required, and notify the court of lack of satisfaction of the judgment. That can reset any period of effect of the judgment, and can also be accompanied by a motion to the court to also execute a writ of execution of the judgment, which requests that the court now order specific means for the plaintiff to attach assets in order to collect on the judgment.

I would not count on expiration of the judgment creditor's rights to continue to keep it alive with the court.

Re: OLD Judgement / Income Execution Notice

Anarchy — Fri, 20 Jan 2012 05:06:25 GMT

Should I just contact these guys and arrange payments to bypass the court?

I don't want the court or my credit report involved in this whole mess.

Re: OLD Judgement / Income Execution Notice

Anarchy — Sat, 21 Jan 2012 12:30:14 GMT

My only fear is by contacting them to arrange payments, will add it back to my credit report.

Re: OLD Judgement / Income Execution Notice

StartingOver10 — Sat, 21 Jan 2012 13:59:37 GMT

Check your state's statutes as to how long a judgement can last.

They typically last 20 years. Or 10 yrs with a renewal for another 10 yrs. I am giving you typical examples. Check NY statutes to see how long your judgment can last every state is different.

Since the creditor is already going in for the execution, you will need to pay this.

The reporting time for a judgement on your credit report has nothing to do with whether a judgement is effective or not. A judgement can be in effect even if its not on your report. One has nothing to do with the other.

Re: OLD Judgement / Income Execution Notice

Booner72 — Sun, 22 Jan 2012 00:57:06 GMT

Judgments stay on credit reports 7 years from the date filed (Plus 180 days...)

They would have to get a new judgment with a new filing date to be able to re-report it anyway, I'm pretty sure, if it is past that 7 year mark.

It's easy to confuse SOL with CRTP.

Re: OLD Judgement / Income Execution Notice

MarineVietVet — Sun, 22 Jan 2012 01:05:42 GMT

@Booner72 wrote:
Judgments stay on credit reports 7 years from the date filed (Plus 180 days...)

They would have to get a new judgment with a new filing date to be able to re-report it anyway, I'm pretty sure, if it is past that 7 year mark.

It's easy to confuse SOL with CRTP.

This is not quite correct. FCRA 605(a)(2) says:

Civil suits, civil judgments, and records of arrest that from date of entry, antedate the report by more than seven years or until the governing statute of limitations has expired, whichever is the longer period.

The 7 years + 180 days applies to collections and charge offs. FCRA 605(c)(1)

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".