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what to do next...lawyer calling on old judgement


katrina1231
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I had an account with Lord & Taylor years ago. This account has been closed since at least 2000 (maybe earlier). It was sent to Hayt, Hayt & Landau back in 2001 and there was a judgement entered in July of 2001. At one point they were going for a wage garnishment but withdrew that back in 2003. All of the sudden I am hearing from them again. The judgement has since come off my credit report. What should my next step be? I have never had this issue before....do I pay? Do I DV?

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Even though you do not see this judgment on the major three credit bureau reports, there are two other agencies in which it still may appear. This is Innovis and Lexis-Nexis. In your state, the SOL for judgments is 20 years which means even if it is off your credit report, they still have this amount of time to collect. :( I would go to my local court house and see if it is still on record there. xdancex

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Well, the previous poster is right about the length of time that a judgement is allowed and the agencies in which the judgment appears.

However, you can negotiate judgements too...just like anything else. You are in a better position to negtiate the satisfaction of a judgement if you do no own anything (no real property - no house, no land, no condo etc).

Make sure that the person calling you is actually the holder of the judgement - could be someone else trying to collect for it without having an ownership interest.

If you attempt to negotiate this debt, you for sure want to make sure you get a satisfaction of the judgement to be recorded in the county so that it can not come back to haunt you.

It is not unusal for judgments to be satisfied for substantially less than the face amount. However, if you own property - then it is very, very tough to settle for less (in fact, they accumulate interst).

Your best bet is to look as broke as possible when negotiaing the satisfaction of a judgement if you decide to go this route.

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