Judgment Lien Help!

[forever1948]

Hi All!

These forums have been a wonderful education. I am finally trying to repair my credit and with all of your help, I feel I am on my way.

I have a question: I defaulted on a car loan. Date opened is 5/2003. Current status is charge off. Charge off amount is $7628. They sued me. Civil judgment against me. Date opened 8/23/05. Claim amount is $6412. They have attached my bank account a few times for large sums. This has got to stop. What is the best way to pay this off and get both entries off of my CR?

1. Send a PFD to OC and ask for deletion of entry and vacature of judgment?
2. Pay the court, GW the OC and ask for vacacture of judgment?
3. Pay the court, wait for seven years to come off, ignore OC since it will come off in Dec. 2010?

The first one sounds the most morally correct, which I would like to do. I signed, I fudged up, now I am paying for it. But I would like to correct it.

Thanks in advance for any help! This place is great!!!!

[Anonymous]

Did they sue you in 03 or 05?

I would try the first one if you can.  Finding money gone from your account when you are not expecting it has got to be the worst.

What ever you do, get it in writing.

[forever1948]

I defaulted in 03, was sued in 05. It is horrible. Happened the first time when - was out of town. Was stranded with no cash. Learned my lesson fast. Option 1 still the best you think? Also. What is the best way to monitor my scores so I know I am doing some good?

[Anonymous]

If they sued in 05 then the judgment will be on your report until 2012.  Unless you have something that says otherwise.

This site is the only one that has true FICO scores.  Each time you get a score, it costs money. I do not think there is anywhere to monitor FICO scores.

The CRAs do not use true FICO scores and can vary greatly from the real ones.

I had a car repoed in 07.  I worked out arrangements with the OC and am paying them a very minimal amount each month.  I suppose they could still sue but, I sent them a letter and they agreed.

Message Edited by guiness56 on 03-09-2009 06:16 PM

[Anonymous]

If you defaulted in 03, the entry from the OC should be removed next year or so.

I vote for giving #1 a try as well.

As for monitoring your FICO score, we have ScoreWatch, which monitors your EQ FICO.

For your TU FICO, you can purchase the quarterly monitoring which gives you a report/score every 3 months.

EX no longer offers FICO scores.

[forever1948]

Thank you both much for the opinion.

Wish me well!

[forever1948]

As things turn out, I did not PFD them. The CA hasn't even reported the debt. I talked to the CA today and got them down to $7000 from $12,000. I will be getting the offer tomorrow in paper. Then I will GW the OC and see how that goes.

Thank you all for your continuing support!