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Judgment in NC


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My husband had a car repossessed years ago because he lost his job and couldn't pay for it. The lender filed a judgment in 1997 in North Carolina. This all happened before we met. Fast forward to 1999,we wanted the debt settled because we wanted to buy a house(of course we didn't tell them that).We couldn't pay the amount the they wanted,so we set up a payment plan.We paid every month for 1.5 years.We stopped making payments because we just weren't getting anywhere! We have gotten recent credit reports showing the judgment is still on there,the lender hasn't updated anything with the agencies including not deducting the money that we paid.We tried for a week to contact them to settle this once and for all,but no one returns ours calls and they don't even know what account we were talking about. My question is 1) can the lender renew the judgment ?2) if so,can they come back years later after we buy a home and refile it & take our home ? 3) How much longer will it be on the credit report,its 7 years right ? We really want to buy a house ,but we don't know what we can do with this old debt lingering over us..any advice ?

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If they renewed it and found out he owned a home they could tie the judgement to the land but not take your home. It would become a lein on your property. If you can get the home in your name only that would help and have your husband waive all rights to the property (ie: he will not show up on the deed) at closing. Once everything is cleared up, then you can add him to a general warranty deed for about 75$. A lein on your land means that if you ever wanted to sell or use as collateral the title would be clouded and you could not transfer any ownership rights until the lein is cleared.

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I would try disputing it with the CRAs since they don't seem to know the account info. Send a letter to the OC as well since they are now required under the FCRA to respond to disputed credit reporting letters.

If it becomes apparent that they no longer have records to back up what they are reporting, the CRAs have to remove it as unverifyable.

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