babynurse31 Posted January 25, 2005 Report Share Posted January 25, 2005 I have a judgment for a medical collection from 1/2000 for $565. I am in MO so there is a 9% interest rate allowed. What are the chances of paying this debt for less that whats owed? Also, is it ever possible that they would vacate the judgment after payment or is it just changed to satisfied?Thanks for all your help! Link to comment Share on other sites More sharing options...
wunderwoman Posted January 25, 2005 Report Share Posted January 25, 2005 The time frame to vacate a judgement is usually less than 18 months, so I doubt they'd be able to vacate it.Settlements are often done for a lump sum amount. It won't get the judgement removed from the court system files, but it will keep the creditor from renewing the judgment (which is easy)Also, since this judgment is 5 years old, you may be able to dispute as "wrong date" and have it deleted. I just had my judgment deleted from all three bureaus that way (and it was medical as well). The courts usually purge the files after a few years.Lastly, for some states, if a judgment is satisfied within 5 years, you can have it removed from your credit file. You'd have to check around a bit and do a search on this site, but I've seen the law for it before. Link to comment Share on other sites More sharing options...
Recovering Attorney Posted January 25, 2005 Report Share Posted January 25, 2005 Wonderwoman knows her stuff!If this is a local creditor, you might be able to convince them to allow you to vacate the judgement. You would have to do teh paperwork and they would have to consent, but given the age, you might just try to delete it off teh CRAs by another reason. And WW is right. In NYS, there is a statute about how long a paid judgment can show up on your CR. MO might have a similar law. Link to comment Share on other sites More sharing options...
babynurse31 Posted January 25, 2005 Author Report Share Posted January 25, 2005 Thanks for your help! I will try to get it deleted off my report using one of those methods. Does anyone have a good site to look up MO laws. Preferably one that you don't have to be a lawyer to understand! Link to comment Share on other sites More sharing options...
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