My husband had a car repossessed six years ago and after auction we stilled owed 6000 dollars on the car. Well after a lot of run around and misunderstanding, the bank filed a civil suit against us for the money and then put a judgment on my husband's credit report. We are now trying to buy a house and we need to get he judgment off of there. We could pay it outright and get it removed within a period of time, but a lot of the run around during the inbetween time seems fishy to me...and I don't think we owe what they say we do...however, I can't prove it. So my question: Is there a legal way to get a judgement removed(without paying it) or getting it lowered.
2007-05-30 07:08:37 · 5 answers · asked by ¤¤Je§§ica¤¤ 4 in Business & Finance ➔ Credit
You can pay it outright, and have it changed from outstanding to satisfied. I doubt that the creditor is pulling your leg, at least regarding the time line...there is a process that needs to be done to have a judgement recorded as satisfied. You cannot have it removed from the credit report, unless it is there in error. The creditor is not likely the entity that put the judgement on your credit report...it is probably a completely unrelated company that does legal research.
Court costs and attorney fees are usually added to judgements. Many (if not all states) have provisions which allow a judgement to acrue interest at a set rate. However, there have been creditors who have attempted to illegally inflate the value of a judgement.
2007-05-30 08:46:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You had 30 days after the judgment was entered to motion the court to vacate. Six years later your only recourse is pay up and ask the plaintiff to send a notice to the credit bureau that the debt is paid. Jimmy has good info too go to the source!
2007-05-30 07:15:50 · answer #2 · answered by damron 3 · 0⤊ 0⤋
You need to pay the $6k plus any interest and fees that are being added since you aren't paying them. Then it will show as a paid judgement but it will stay on the report for 7 to 10 years depending on your state. Be prepared for a huge interest rate if you ever get approved for a mortgage.
2007-05-30 08:46:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Believe it or not if a credit collector has it many will negotiate to lower it up to 70% and if your bank still has it they may as well, deal direct NO companies that offer to help, they cost too much
2007-05-30 07:15:05 · answer #4 · answered by jimmy b 3 · 0⤊ 0⤋
paying it is all you can do.make payments on it and prove your doing it and that helps
2007-05-30 08:09:04 · answer #5 · answered by mamanana9 4 · 0⤊ 0⤋