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reversejudgement7

Default Judgement in CA, more than 3 years ago what now?

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Hello,

 

Thank you in advance for your answers.

This is my first post as I have decided to research my options in dealing with a lingering default judgement.

 

I received a Default Judgement (served properly and never answered) in California more than 3 years ago. I originally owed a large bank about 10k (credit card debt), current balance sits at about 14k with fees and interest. I need to take care of this debt.

 

Garnishment attempts have been made (I can see filing with court) but not successful. No bank account levy as of yet but attempts made as seen on court records. (5 years).

Only property to my name is an older vehicle worth less than 2k.

I do have credit cards at the moment that I use and pay monthly (2k line)

 

 

My questions are:

(1) What is the best plan of action to takle and get rid of this debt?

 - I cannot pay in full but I am willing to settle if it is an option (family willing to loan money).

 

(2) Is settlement a realistic option at this point? If so, what amound do you suggest?

 

(3) Should I contact a debt lawyer in my area? Any way to reopen the case?

 

(4) Should I consider bankruptcy? I am in my mid 20s.

 

 

Any other tips and suggestions are greatly appreciated.

 

Thank you!

 

 

 

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My questions are:

(1) What is the best plan of action to takle and get rid of this debt?

 - I cannot pay in full but I am willing to settle if it is an option (family willing to loan money).

 

(2) Is settlement a realistic option at this point? If so, what amound do you suggest?

 

(3) Should I contact a debt lawyer in my area? Any way to reopen the case?

 

(4) Should I consider bankruptcy? I am in my mid 20s

 

1.  I would look into settling it first.  Given that they have collected zero they might be willing to take a percentage as a full settlement just to be done with it.  Make sure you get the deal in writing before you part with one red cent though.

 

2.   Yes.  I would start at 30-40% and go from there.

 

3.   You can but it is a waste of time.   It is far too late to re-open the case now.  There is no legal reason to vacate the judgment.  You simply did what many consumers do which is hand them a default judgment.  There is a very short window to appeal or vacate and once that is closed the judgment is concrete.

 

4.  If they won't settle you can consider BK but I would not do it for one debt.  

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I'd see if you can negotiate with the judgment creditor. I'd start at 10 cents on the dollar. It's obvious they haven't been successful attempting to collect.

 

Make it clear that you will be paying 1 lump sum that will settle the judgment in full, with a satisfaction filed with the court and a copy to you.

 

 

 

Pay with a cashiers check or wire. Do not give any back account information.

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Thank you for the replies.

 

Are there any templates for settlement letters out there? I ask because I do not want to make a mistake and get myself into more trouble with this law firm.

 

Thank you!

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A letter with what I typed above should suffice.

 

 

If they want payments, bank or employer info, then don't bother going any further with negotiations.

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