topic Re: Judgment Advice in Rebuilding Your Credit

Judgment Advice

Anonymous — Tue, 29 Apr 2008 23:13:00 GMT

I have a 6-year old judgment on my EQ and TU report. I want to pay after th 7-year expire. I perhaps am in a hurry to re-establish now. Should I dispute?

I also had a collection account that was a judgment as well from 2005. However it was nevr reported to any CA only showed on reports as a collection and not a judgment. I did a PFD with collection agency and it is now gone. Curious I called the Clerk of Court and asked if they updated paid in full (sorry small fib here "Under-Investuagtion by me sounds better) to see if they updated. The Clerk said they do not report or update judgments the creditor does and I should call them. My question is, what are the chances of the 2005 account being found at the Clerks office and added if I dispute the 6-year old judgment.

If the Clerk of Court does not report or verify who does?

Thanks

Re: Judgment Advice

Uniqua — Tue, 29 Apr 2008 23:27:18 GMT

Hello, Pawpaw:

If you are going to dispute the 6-year old judgment, why pay it off? Do you want to dispute it to have it removed, or do you want to PIF? If you want to PIF, contact the creditor and get it in writing that they will remove it from your CR once it has been PIF.

The Clerk of the Court does not do the reporting. The creditor does. Since it has not hit your CR in 3 years, I say leave well enough alone. This is to your advantage so don't go doing something that can cause more damage to your CR.

Just my opinion.

Re: Judgment Advice

learningstage — Tue, 29 Apr 2008 23:53:20 GMT

So for validation purposes the CRA must contact the OC nto the clerk of court for a judgement. If this is so what if you have a creditor that is out of business.... must the judgement be removed?

Re: Judgment Advice

Anonymous — Tue, 29 Apr 2008 23:58:11 GMT

What state are you in? The SOL for judgments is not the same as debts.

Re: Judgment Advice

Anonymous — Wed, 30 Apr 2008 00:00:41 GMT

learningstage wrote:
So for validation purposes the CRA must contact the OC nto the clerk of court for a judgement. If this is so what if you have a creditor that is out of business.... must the judgement be removed?

I wouldn't pay it. I don't think its really effecting your credit report like it use to. Unless you are trying to get a mortgage, i'd pay it. If you just want to increase your score, then i'd wait for it to be removed.

Re: Judgment Advice

Anonymous — Wed, 30 Apr 2008 00:03:34 GMT

In some states unpaid judgments are renewable beyond the original SOL for the judgment. It really depends on what state they are in. In WA, the SOL for a judgment is 10 years, in some it is 20 years. It stays on your report for 7 AFTER it is paid.

Re: Judgment Advice

learningstage — Wed, 30 Apr 2008 00:03:48 GMT

I am in NC disputing with the bureas.. had a situation with the community that placed the judgement.. but can't contact them to correct it because they were out of bus. so i am wondering about the success of my disputes... judgement since 2001

Re: Judgment Advice

Anonymous — Wed, 30 Apr 2008 00:10:35 GMT

NC SOL for a judgment is 10 years. Since the date of the judgment is 2001 it will be on your report until at least 2011. They also may be able to renew the judgment so many times.

Re: Judgment Advice

learningstage — Wed, 30 Apr 2008 00:18:36 GMT

what i am trying to ask is who is going to renew it... the creditor is no longer existent? is the state going to renew.. it please read my posts again..?

Re: Judgment Advice

Anonymous — Wed, 30 Apr 2008 00:27:01 GMT

I would think the person/s who sued in the first place would file a renewal affidavit. How do you know they have not sold the debt to someone else before going out of business? As I said, SOL for judgments in NC are 10 years, you still have 3 left. Since it is a valid debt and you dispute it, be prepared for it to reappear on your CR if it is taken off.

Message Edited by guiness56 on 04-29-2008 05:27 PM

Re: Judgment Advice

Uniqua — Wed, 30 Apr 2008 00:27:51 GMT

Learningstage:

If you dispute this judgment, the CRBs will try to contact the creditor to verify the information. If they cannot verify the information within a certain time frame (usually 30-45 days), they will more than likely delete it from your CR. Otherwise, it can stay on your CR until the 10 years are up (if the law in your state is 10 years). Just go ahead and dispute it. No matter the outcome, it can't negatively impact your score no more than it already has. It's been 7 years.

Good luck.

Re: Judgment Advice

learningstage — Wed, 30 Apr 2008 00:36:47 GMT

thank you for sound advice... in reading previous replies.. this debt is not valid.. i just never followed up with the appropriate people at the company... it was a lower level management employee that i had a dispute with!... all i wanted to know is if... indeed this will be verified with the creditor... and i do know for a fact due to some unsavory business practices... which is how i acquired this judegment to start with .. they are no longer in business

Re: Judgment Advice

Anonymous — Wed, 30 Apr 2008 00:38:24 GMT

The most you can do is dispute it. If they have gone out of business, it can not be verified and will be removed. If it comes back verified, that is another issue.

Re: Judgment Advice

learningstage — Wed, 30 Apr 2008 00:38:58 GMT

I would hope in this forum that we would be careful not to assume to know certain things of peoples situation ... such as being a valid debt statement... that was said earlier.... i just wanted a clear answer i would not need to dispute if it were indeed correct!

Re: Judgment Advice

learningstage — Wed, 30 Apr 2008 00:40:04 GMT

let's not give advice unless we know and can give clear and concise answers

Re: Judgment Advice

Anonymous — Wed, 30 Apr 2008 00:44:21 GMT

@learningstage wrote:
I would hope in this forum that we would be careful not to assume to know certain things of peoples situation ... such as being a valid debt statement... that was said earlier.... i just wanted a clear answer i would not need to dispute if it were indeed correct!

No where in the OP does it state any thing about being a non valid debt. People are too quick to tell others to dispute legal, binding debts and that is against policy. I was trying to get hard facts to give the best advice possible. I hope you do not have issues with going by the rules.

Message Edited by guiness56 on 04-29-2008 05:44 PM

Re: Judgment Advice

Anonymous — Wed, 30 Apr 2008 00:43:55 GMT

Follow your own advice.

Re: Judgment Advice

Uniqua — Wed, 30 Apr 2008 01:02:44 GMT

Learningstage,

I did not assume the debt was valid and if I gave bad advice, I do apologize. It was not my intention. I wasn't telling any one to dispute accurate information. I was just saying that you can go ahead and dispute it but if the judgment cannot be verified, it may be deleted from your CR. If it is verified, the information will be updated and it will stay on your credit report for the alloted period of time.

Re: Judgment Advice

Anonymous — Wed, 30 Apr 2008 01:37:45 GMT

I think they were talking to me. However, finding out if it is a valid debt has a lot to do in the responses they will receive. It is against forum policy to advise to dispute valid debts just to get them off your CR. I reread the OP and could find nothing stating it was invalid.

Re: Judgment Advice

fused — Wed, 30 Apr 2008 02:02:20 GMT

Just to clear the air here, judgments stay on credit reports up to 7 years from the date they are filed. As for legal SOL, it varies by state and can be much longer than the 7 year reporting SOL time period.