Old Judgement Never Paid?

Question

I have a judgement against me from Providian . It's almost 10 years old. I never paid any of it. I live in Texas and it is renewable in 10 yrs. It was sold to Sherman aqusitions.Now after all this time they are writing me, threatening me.I absolutely cannot pay it and what can they do to me?

Answer 1

I'm sort of surprised everyone is missing this......

She clearly stated that she has a judgment already against her that is 10 years old. It makes no difference if she pays a dime or not in regards to the SOL.....

When a judgment is issued, the 10-year clock begins. If at any time prior to that 10 year date, the creditor files for a renewal, the SOL will continue for an additional 10 years. Therefore, the only way out of a judgment is to pray they forget to file the renewal.

Here is the problem.....it was sold to a company that is one of the largest debt acquisition business's in the country. Texas has a 10% judgment interest rate, making these types of debts very profitable if they can collect.

But on the positive side....Texas bans wage garnishments. So unless you have some cash in a bank, or lots of property they can attach to, the loan is still uncollectable.

From a credit reporting standpoint, this debt can not be listed on your report after 7 years, starting from the date the judgment was issued.

Hope this helps....not the best news but helpfull.

Answer 2

I agree with the first poster, don't speak to them.

If it has been almost 10 years since the judgment was filed, they have done nothing to you so far and your situation has basically remained the same, they still may not be able to do anything.
(it would be hard for anyone, on here, to say for certain what they can or cannot do to you)

It's possible that, by the aggressive contacts they have been making to you, they may be getting antsy and hoping you will pay so they don't have to mess with renewing the judgment.

You should wait the "full" 10 years before checking with your county court clerk to see if the judgment has been renewed. If it was, make sure it was renewed legally and within the legal time allowed

IF they are using threats, that is illegal.
If the threats are on paper that may be worth some dollars to you if you wish to persue it.
If the threats were made by phone, unless you are taping you have no way to prove the threats
(Texas is a one party state, you do not have to tell them you are taping)

Texas has some pretty stiff state FDCPA laws (and the same with FCRA laws), you might do some reading in the link provided for any of the violations they may have been committing. Also do some reading in the FTC's version of the FDCPA.
http://www.occc.state.tx.us/pages/Legal/Laws/TCL_toc.html#392

Answer 3

Nothing! They are trying to get you to re-establish the debt. Many years ago it was already written off as a bad debt, by Providian. If you make a single payment the 10 years begins all over again. Tell them you are Judgment proof. Or, better yet, do not talk to them. Hang up on them. Also, get yourself on the 'no call' list...sorry I don't know how to do it but someone on here will tell you. Or just call the phone company and they will tell you how. That way the naggers can NOT get through to you by phone. Ignore them. Once when a bill collector called I asked them to hold on and I'd put my husband on the phone. They (stupidly!) waited about 8 minutes before they realized no body was going to come to the phone. LOL Also, send their nasty letters back (without opening them) in a big envelope without sufficient postage. This is not legal advice - just spite on them. We all have bills we couldn't or can't pay - don't let them intimidate you - they probably have bills of their own. I hate these kind of calls, too.

Answer 4

If the debt is beyond the statute of limitations, they cannot take legal action (judgment) to recover the debt. However, they CAN continue to attempt to collect the debt, and they are allowed to report to the credit reporting agencies that you are still in default on that debt.

Basically, the only thing which changes when the statute of limitations expires is that they cannot seek a judgment to recover. All else remains unchanged, including the negative vibes in your credit file.

Answer 5

The first poster said something very important. Do not make a single payment, otherwise you start the process over. I just told someone else this a few days ago.