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Settling a judgement???


mj11
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I had a Yamaha motorcycle account go into collections after my business took a turn for the worst. The original balance was 6k, now I have a judgment for 10k against me from a law firm. The original law firm was from out of state so they hired a local one. Can I attempt to settle this? How? Also, is it possible to get the judgment removed from my credit report as part of the settlement?

Thanks!

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I guess in follow up I would like to know if there are any steps that I should take right now re: the judgement. I just received the judgement about 2 weeks ago and really don't know what or where to start from here and I want to make sure I don't do anything stupid.

Thanks again!

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  • 2 weeks later...

mj11

If a judgement happened - it will remain on your credit report. Having open open judgement can stop you for applying for new credit, as well as keeping your score down.

If you have the judgement satisfied, and it's on your credit report. Send a copy to Transunion credit bureau. You can go to their web site and do a dispute. You will also find their address to mail a copy of the sat letter.

Be sure to add - "Please notify Experian and Equafax credit bureaus".

Expect your judgement to be shown closed in about four weeks....

Good Luck

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