Jump to content

Help!


Recommended Posts

Hello,

Due to a layoff I had an account that I opened in 2000 charged off in Dec of 06. Not knowing, I made a payment of $150.00 to get caught up. Anyway, I tried to call immediately to make payment arrangemnts, but they were unreasonalbe and then I got laid off again (I am a contractor) a couple of weeks later. I am in the process of disputing items on my credit report and received an alert that a Judgemnt had been placed on my report. I have never been served and when I received a copy of my Equifax report it wasn't on there so didn't think it had been put on there, but come to find out it's on my Experian. Questions: I wrote a letter before realizing the Judgment was actually on there asking to settle for less then half the balance b/c I'm willing to pay half the balance - No responce to that yet. Can you negoitate a settlement on a Judgement for less then the balance???? I don't want to go to court - b/c I owe this charge, but don't feel after paying in good faith for 7 years it should be the full amount. IF I do have to go to court and get what my reading about here (a vacate of the Judgement) what does that mean? If I lose in court - what does that mean? Do they want the full balance immediately after they win or can you make payments (this is a $8,0000 studen loan account that i've paid on since 2000 and still owe $8,000.00) ??? HELP!!! Obviously I've never been in this situation before. Do I need an Attorney to help me negotiate a settlement?

Thank you in advance for any help!!

Link to comment
Share on other sites

I work with borrowers everyday reveiwing their credit reports. When a debt has gone into collection status. Sometimes you can negoicate the debt down.

When the debt is taken to court, a judgement is entered saying you owe the money. So the answer to your question - you owe that money, you have to pay it.

I'm not an Attorney, cannot say what is going if this happen if there goes to court.

...

Link to comment
Share on other sites

(this is a $8,0000 studen loan account that i've paid on since 2000 and still owe $8,000.00) ???

First things first, who have you been paying, and is this related to the judgment? Do you have a breakdown of the payments and balance? How much do you owe remaining?

Before you do anything, you will want to get a copy of the judgment to determine if you were properly served. Next, if you don't understand the rules of civil procedure for your locale, get help on filing a motion. Hire an attorney.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.