2 Questions for the Guru's.....

[Anonymous]

I have judgement on my credit from 2002, how long will that effect my fico score?  It was for a lousy 191 dollars, a medical bill, and do I need to pay that?  Two, I have 5 collection dings on my cr almost all right at 100 dollars.  I will be paying these off this month or next.  My question after doing so is there anything I need to do after they have recieved payment?   ok it was 3 questions.  Thanks in advance for you advice.

[Anonymous]

A judgment that has been paid will stay for 10 years.  If it has not been paid, they can go back to court to seek a garnishment order, depending on what state you are in. 

Are these collections still within SOL?  If they are, I would ask for a PFD.  Just paying a collection will not remove it from your CR.  It will still stay on for the 7 years.  And a paid collections is just as bad as an unpaid one as far as FICO is concerned.

[Anonymous]

So the judgement is bad, to say the least.  The sol you speak of is that the 7 years?  So if they agree to do a PFD, pay the collector.  Since most are nearly 5 years old, if they will not do a PFD, I might as well not pay since it does not have any bearing on my fico, just wait the 2 years for them to drop off.  Is that correct???   Thanks for your reply.

[Anonymous]

Hi Lowrider,

Welcome to the forum,

SOL stands for Statute of Limitations and varies depending on the state you live in and type of account.

You can find this on your states website.

If you paid the judgement in full you could ask the OC to ask the court to vacate the judgement, they may or may not at their discretion.   Write them a nice GW letter and tell them you would really appreciate their help in getting this item removed from CR.

As far as collections, I would DV them with this letter first, then and only then,  if they validate fully, try PFD letter.

If they don't validate within 35 days,  redispute with CRA's If they come back as verified after no response from CA this is a violation and there are additional steps you can take.

Keep us posted!!

Send CMRRR ONLY, KEEP ALL COPIES, DO NOT SIGN ANYTHING, TYPED OR PRINTED NAME ONLY!!

ONLY GIVE INFO AS LISTED ON CR ,  NO ADDITIONAL INFO

CERTIFIED MAIL #: _______________________________________________________
Your Name
Your Address
YourTown,, State ZipCode

Debt Collection Company Name
Their address
Town, State ZipCode

Date:

Re: Debt Collection Company Name; Acct # Debt Collection Company #; Original Creditor Name; OC Acct #

To Whom It May Concern:
This letter is being sent to you in response to a notice sent to me on DATE. Be advised that this is a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested.
This is NOT a request for “verification” or proof of my mailing address, but a request for FULL MEDIA VALIDATION made pursuant to the above named Title and Section. I respectfully request that your offices provide me with competent evidence that (a) the account is valid, (b) the amount allegedly owed is accurate, and (c) I have a contractual obligation to pay Debt Collection Company Name for this alleged debt.
All of the following MUST be provided to adequately validate the authenticity of the alleged debt AND provide proof of my contractual obligation to Debt Collection Company Name for this alleged debt:
• Signed credit application between myself and the original creditor
• Copies of all signed vouchers from the date account was opened until default
• Copies of all statements from the date account opened until default
• Proof of the statute of limitations
• Proof of agreement that you were hired by the Original creditor (creditor as defined by the FDCPA) or
• A copy of the contract Debt Collection Company Name purchased the alleged debt.
• If the alleged debt was purchased, provide a copy of an agreement between Debt Collection Company Name and myself, signed by me, stating that I have a contractual responsibility to Debt Collection Company Name for the alleged debt
• Provide proof that Debt Collection Company Name is bonded/Licensed for debt collecting in the State of Your State
Be advised that failing to provide ALL of the media requested to validate the alleged debt will invalidate any and all claims Debt Collection Company Name is asserting regarding this alleged debt. If Debt Collection Company Name can NOT provide all of the validation media requested above, ALL collection efforts MUST be stopped and the account MUST be DELETED from the Debt Collection Company Name. If you can NOT validate your claim, you can NOT, by law, collect on it, or SELL it to another collection agency. Also, reporting a debt to the credit reporting agencies that can not be validated is a violation of the FCRA (Fair Credit Reporting Act), and carries a $2500 fine to be paid to me. I have two years to decide if I want to pursue this matter. PLEASE GIVE THIS MATTER THE ATTENTION IT DESERVES.
If your offices are able to provide all of the validating media as requested, I will require at least 30 days to investigate this information, and during such time, all collection activity must cease and desist.
I am also stating, in writing, that no telephone contact be made by your offices. If your offices attempt telephone communication with me, including but not limited to computer generated calls and calls or correspondence sent to or with any third parties, it will be considered harassment, and I will have no choice but to file suit. All future communications with me MUST be done in writing and sent to the address noted in this letter by United States Postal Service.

Best Regards,

Your Name ONLY TYPE YOUR NAME

[Anonymous]

Nice, I like it.  Thanks for the help.

[Anonymous]

JUST A NOTE LOWRIDER ,

IT SOUNDED LIKE FROM YOUR POST THAT YOUR ACCOUNTS ARE FAIRLY OLD,  JUST MAKE SURE YOU ARE PAST SOL ON THESE ACCOUNTS, OR BE READY TO PIF IF THE CA VALIDATES. IF YOU ARE WITHIN SOL THEY COULD TAKE YOU TO COURT TO TRY AND GET A JUDGEMENT, HOWEVER, . YOU CAN ALWAYS PAY BEFORE COURT DATE TO AVOID JUDGEMENT.  IF THESE ACCOUNTS ARE BEYOND SOL THE CA PROBABLY CAN'T OR WON'T VALIDATE.

[Anonymous]

Check here for SOL-

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8

CRTP-

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=2689

Child support judgments: Remain seven years from the date the judgment is filed.

Civil and small claim judgments: Remain seven years from the date the judgment is filed.

Message Edited by sidewinder on 04-09-2008 06:03 AM

[Anonymous]

Gator-

I was looking at your scores at the bottom of your post.   

How in the world did you get a jump that severe in a month?? Do tell, because I would love to know!  I am at home today going through my report, because I need to do a rapid rescore for a mortgage approval.  Any info is appreciated.  Thanks in advance!

Curly1

[Anonymous]

I actually had scores in mid to upper 830's in July 07 prior to identity theft. I have been getting incorrect information removed at a much faster pace since joining myfico.  I have had 7accts removed from EQ and EX and 5 accts removed from TU in the past month.  I'm sure that is why the big jump.  I started with scores in mid to high 400's after ID theft in July 2007.   It has been a long journey getting all this fixed. Still have some to go.