reelnsnook Posted April 18, 2013 Report Share Posted April 18, 2013 I have been in the process of repairing my credit and my scores have really raised recently. Everything happened when I lost my job in 2005 and I have been able to remove either through challenging the CA and Credit Bureaus or by cutting deals and paying to have an entry removed. My scores are around 700, but I was recently denied for a boat since I still have a judgement on my account from 9/2007 for $7,100. My question is should I even challenge this or should I just wait and let it fall off? The judgement is in Florida and I know live in Texas and it would be impracticable for my to attempt to vacate the judgement. Do you guys think I could call and try to cut a deal with the OC for $2,500 to have it removed? Like I said I am not sure what I should do I would hate to put myself on the radar for the 10 year mark and have the judgement updated. Link to comment Share on other sites More sharing options...
admin Posted April 18, 2013 Report Share Posted April 18, 2013 You should always challenge the listing. It only costs you the price of CMRRR. You could get lucky and it could fall off. 700 is not bad when you have a judgment. You can't remove a public record like that on a pay for delete situation. However, you could show the judgment as paid if you cut a deal this way for less money. Link to comment Share on other sites More sharing options...
Guest usctrojanalum Posted April 18, 2013 Report Share Posted April 18, 2013 Can't remove a judgment via regular pay to delete, but you could ask the creditor with the judgment or their attorney if they would accept a payment in exchange for vacating the judgment. If not, it falls off in 2 years anyway. Link to comment Share on other sites More sharing options...
Clydesmom Posted April 18, 2013 Report Share Posted April 18, 2013 Can't remove a judgment via regular pay to delete, but you could ask the creditor with the judgment or their attorney if they would accept a payment in exchange for vacating the judgment. If not, it falls off in 2 years anyway. Not necessarily. If the creditor gets the judgment renewed in the FL courts it can stay on the credit report for another 7 years. Not to mention waking them to the fact the consumer now resides in TX and they can domesticate it there and get a lien on real property and seize bank accounts. TX does not allow for wage garnishment for personal debts. Link to comment Share on other sites More sharing options...
admin Posted April 18, 2013 Report Share Posted April 18, 2013 Not necessarily. If the creditor gets the judgment renewed in the FL courts it can stay on the credit report for another 7 years. Not to mention waking them to the fact the consumer now resides in TX and they can domesticate it there and get a lien on real property and seize bank accounts. TX does not allow for wage garnishment for personal debts.I think it's 7 years from the day the judgment was granted that it can stay on your credit report? Link to comment Share on other sites More sharing options...
Clydesmom Posted April 18, 2013 Report Share Posted April 18, 2013 I think it's 7 years from the day the judgment was granted that it can stay on your credit report? Renewing the judgment resets the credit report clock. That is why creditors renew it. Not only to collect but it gets to stay on the CR. When renewed the judgment reflects the date ordered, and the new date of renewal for reporting purposes. Link to comment Share on other sites More sharing options...
admin Posted April 18, 2013 Report Share Posted April 18, 2013 I respectfully disagree. It's 7 years from the date of granting the judgment. Link to comment Share on other sites More sharing options...
BV80 Posted April 18, 2013 Report Share Posted April 18, 2013 2) Civil suits, civil judgments, and records of arrest that, from date of entry, antedate the report by more than seven years or until the governing statute of limitations has expired, whichever is the longer period. Link to comment Share on other sites More sharing options...
admin Posted April 18, 2013 Report Share Posted April 18, 2013 2) Civil suits, civil judgments, and records of arrest that, from date of entry, antedate the report by more than seven years or until the governing statute of limitations has expired, whichever is the longer period.I stand corrected. I love it when that happens. I learn. Link to comment Share on other sites More sharing options...
BV80 Posted April 18, 2013 Report Share Posted April 18, 2013 Well, I'm wondering though if that applies to renewed judgments. Yes, the SOL for enforcing the judgment restarts once it's renewed. BUT, does that mean it restarts the SOL for reporting? In other words, would the SOL for reporting only apply to the original date of entry, or would it also apply to the NEW date of entry. Unless your state laws specify one or the other, it's unclear. Link to comment Share on other sites More sharing options...
admin Posted April 19, 2013 Report Share Posted April 19, 2013 In my experience, judgments fall off after 7 years. Link to comment Share on other sites More sharing options...
Clydesmom Posted April 19, 2013 Report Share Posted April 19, 2013 In my experience, judgments fall off after 7 years. Typically many creditors do not bother to renew them and they do fall off. However, there are some creditor friendly states like Ohio where the initial judgment is for 20 years and can be renewed for another 20 indefinitely. In states with longer life spans for the judgment it isn't necessary to renew it, they simply ask the CRA to re-verify with the court. The other scenario is the mortgage pull trigger. If the judgment is still "alive" but did fall off the CRs and the creditors get notified via the monitoring service that one of their debtors they have a judgment on has applied for a mortgage they need only re-verify it and it reappears on the CR and it is legal because the judgment still exists. That is why the are so powerful in some states: they don't expire for decades and can be renewed. All they have to do is wait for you to apply for a mortgage and BAM, you won't get one unless you pay them. Link to comment Share on other sites More sharing options...
Guest usctrojanalum Posted April 22, 2013 Report Share Posted April 22, 2013 judgments fall off in 7 years. in NY Judgments are good for 20 years, but they do not stay on someones credit for 20 years. Link to comment Share on other sites More sharing options...
admin Posted April 23, 2013 Report Share Posted April 23, 2013 I've never heard of them staying on longer, even if unpaid. Link to comment Share on other sites More sharing options...
Clydesmom Posted April 23, 2013 Report Share Posted April 23, 2013 judgments fall off in 7 years. in NY Judgments are good for 20 years, but they do not stay on someones credit for 20 years. There are cases where they do remain if the creditor keeps up with it and renews. It isn't common but it does happen. Link to comment Share on other sites More sharing options...
admin Posted April 24, 2013 Report Share Posted April 24, 2013 There are cases where they do remain if the creditor keeps up with it and renews. It isn't common but it does happen.I've just never seen it. Link to comment Share on other sites More sharing options...
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