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need help new to board


ambo0704
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hi guys my name is michael i'm new and have a few ?? to aks

1) i have a mustang on my credit, that i had repoed, after they got the car back i paid the $4000.00 i owed them to get the repo off my credit but that didnt work is there any advice for what i need to do now?

second i have a judgement againts me, i live in texas can they take my tax return and suft away from me when i file my taxes and my savings can they touch that? to pay the judgement?

thanks guys and i cant wait to start working on my credit with yall

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To number one. There are a number of things that they were supposed to do in the repo. Did they give you a copy of the sales report before asking you to pay anything? Did they breach the peace (tresspass, break-in, etc) to get the car?

A creditor may only ask you for the difference between what you owed and what the car sold for...and they have to show you what it sold for as proof. Otherwise, they may loose their ability to collect the difference at all.

Now you say you have already paid them. That's kind of a problem because now that they have tyour money, they have no reason whatsoever to negotiate with you over the condition of what is reported. Unless there is a flaw in what is reported due to what I mentioned above, you may be stuck with it for a while. Basically, it cannot remain on your report for more than 7.5 years from the date of charge-off (or repo for simplicity sake).

For your second. Judgments are a pain. They stay on your report effectively forever if they are unpaid. Someone with a judgment against you can file to levy your tax refund, freeze or seize your bank accounts, and garnish your wages (in most States). Creditors in possession of a jedgment rarely negotiate for a lower payment because they can legally enforce the amount granted to them already by other means.

That said, how did this judgment come about? Did you know you were being sued or did this come up as a suprise one day to find a record entered against you? That makes a difference because you have a Constitutional right to appear in court in your own defense. If you were never notified that you had to show up for court, then the judgment is improper because of that fact and can be vacated. Now that doesn't mean you don't owe the debt, it just means that the court case never really happened in any practical sense. The creditor has to start all over again trying to collect.

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well the car got repod cause i owed 4400 on it then they sold it for 5500 and then i paid them 4400 to get it off my credit so i did wrong huh.

the judgement is from a friend long story i live in texas can they take my savings and taxes in texas?? can i buy a house with a judgement??

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