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Removal or Derrog Credit Card Debt-Take Nothing Judgment

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Anonymous
Not applicable

Removal or Derrog Credit Card Debt-Take Nothing Judgment

I am a mortgage broker and have a client that has a charge of with a 30K charge of on his credit report. The client (defendent) went to court with the Plantiff and received a Take Nothing Judgment.  Is it possible to get the account removed from his credit report, or at least show a zero balance?

Message 1 of 9
8 REPLIES 8
distantarray
Established Contributor

Re: Removal or Derrog Credit Card Debt-Take Nothing Judgment


@Anonymous wrote:

I am a mortgage broker and have a client that has a charge of with a 30K charge of on his credit report. The client (defendent) went to court with the Plantiff and received a Take Nothing Judgment.  Is it possible to get the account removed from his credit report, or at least show a zero balance?


once it's satisfied yes =)


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 2 of 9
Jutz
Valued Contributor

Re: Removal or Derrog Credit Card Debt-Take Nothing Judgment

The judgement is showing a balance?  Or the charge off?

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 3 of 9
Anonymous
Not applicable

Re: Removal or Derrog Credit Card Debt-Take Nothing Judgment

Isn't that what a "Take Nothing Judgment" is?  The credit get's zero?

Message 4 of 9
Jutz
Valued Contributor

Re: Removal or Derrog Credit Card Debt-Take Nothing Judgment

Right, which is why it would be confusing for a balance to show.

 

You can file to vacate, but I'm not sure where that would lead, since it was basically agreed that yes, the creditor was right, but they won't be receiving anything from it.

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 5 of 9
Anonymous
Not applicable

Re: Removal or Derrog Credit Card Debt-Take Nothing Judgment

The balance is showing as a charge off

 

Message 6 of 9
Jutz
Valued Contributor

Re: Removal or Derrog Credit Card Debt-Take Nothing Judgment

Meaning you're still looking at the OC account, in charge off status, with original balance listed as $30,000, and balance due as $0, correct? Or is it still listed as Balance due of $30,000

 

I also assume there is a judgement listed on the report as well?

 

Mods may want to move this to the rebuilding section, it will probably get more relevant attention.

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 7 of 9
Anonymous
Not applicable

Re: Removal or Derrog Credit Card Debt-Take Nothing Judgment

OC listed with $30,000 balance, plus past due amount of  $6089 from EPX & EFX. No judgment reported

Message 8 of 9
Anonymous
Not applicable

Re: Removal or Derrog Credit Card Debt-Take Nothing Judgment

In other words, charge is showing balance and past due amount, obviously nothing done by creditor with take nothing judgment

 

 

Message 9 of 9
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