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Very Old Judgement surfaces


Beachcat856
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Hello:

Recently I assisted a family member in selling their home.  During title search a very old (19 years ago) judgement was found on the owner.  The judgement was not a lien on the home, however, we are told that it has to be cleared for the sale.  In order to proceed with sale seller ok'd putting amount in escrow.  The judgement was never pursued to be collected all these years.  The person is now a 70 year old retired, living on soc. sec and now does not own a home.  Over the years he had sold and purchased homes and had home equity loans and this never was brought to light.

The judgement amount was under $400.  Statute of limitations  is 20 years, unless renewed.   There is literally 1 more year in this.   But here we are with a big light now shining, and money in escrow.   In my opinion its not worth hiring an attorney for this debt and I have been giving the task of taking a stab at resolution.  When it came to our attention the closing attorney's office did make a call to the attorney listed for the company, after he dug in storage, he suggested calling the accounting department of the company that sued.  That call went unreturned.

So how to proceed?   It's a small amount (unless they ask for years of interest too), and I'm inclined if they will agree just to take a stab at offering to settle it.   I don't want to make that call until I have thought this through.   Its long been off his credit report.  Will it put it back on if paid and a satisfaction of judgement is gotten?  This wasn't on their radar to collect so I am hoping to make it go away and get the satisfaction of judgement.   

Any thoughts?  

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Guest usctrojanalum

It could be put back on as a satisfied judgment if a satisfaction is filed now, which is obviously not ideal.  If you were to pay it off, I'd ask for a copy of the satisfaction and that you will undertake the filing of it.  Therefore you just forever hold onto it, and do not file it.

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