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What does a judgment look like on your CR?


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I had a default judgment set against me in '03. At the time I was laid off and contacted Sears about working with me since I didn't have funds to pay. I was told they didn't do that and responded right away by filing a judgment against me. Now LVNV appears to be handling this account and sending me offers to settle for about what the original balance was ($1900) but all I see is the TL for LVNV but nothing about a judgment. Where would that show up on the CR? I'd like to pay them off when taxes come back but want to make sure it is gone for good also.

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LVNV may not be aware of the judgment.

If they become aware of it they may take a harder line in negotiations.

Just include a line in the settlement agreement to the effect of "LVNV agrees to effect notification regarding the satisfied status of this debt to any and all agencies or registries where said debt has been reported."

After the settlement, get a copy of the judgment from the court and advise them that they need to file a satisfaction for you.

Come back here if that creates any problems ... LVNV might wind up paying you back three times what you paid them if they don't salute smartly and get it done...

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I had a default judgment set against me in '03. At the time I was laid off and contacted Sears about working with me since I didn't have funds to pay. I was told they didn't do that and responded right away by filing a judgment against me. Now LVNV appears to be handling this account and sending me offers to settle for about what the original balance was ($1900) but all I see is the TL for LVNV but nothing about a judgment. Where would that show up on the CR? I'd like to pay them off when taxes come back but want to make sure it is gone for good also.

Judgements would show under the public records section of your CR. My DW had one in 2005 that didn't start reporting until 12/07.

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Could this explain why LVNV wants to settle for less than the amount?

SOUTH CAROLINA STATE LAWS

http://www.lpitr.state.sc.us/code/statmast.htm

Interest Rate: Legal:8.75% Judgment:14%

Statute of Limitations

Open Acct:3

Written Contract:3

Domestic Judgment:10

Foreign Judgment:10

Bad Check Laws (civil penalty): Reasonable court costs amount of check & damages up to $500 or 3x check amount whichever is smaller

General Garnishment Exemptions: 100%

Services defined

SECTION 37-2-105

3) "Services" includes (a) work, labor, and other personal services, (B) privileges with respect to transportation, hotel and restaurant accommodations, education, entertainment, recreation, physical culture, hospital accommodations, funerals, cemetery accommodations, and the like, and © insurance provided by a person other than the insurer.

SECTION 37-5-104. No garnishment.

With respect to a debt arising from a consumer credit sale, a consumer lease, a consumer loan, or a consumer rental-purchase agreement, regardless of where made, the creditor may not attach unpaid earnings of the debtor by garnishment or like proceedings.

__________________

They know about the judgment as they sent me a letter last year about this time saying tax time was a great time to pay this off for x% of the total. This year I'm going to try to do that but if I can get it lower or even have them clean up my CR that would be great :mrgreen:

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