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Advice needed for paying off judgement
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Thread: Advice needed for paying off judgement

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    Advice needed for paying off judgement

    I have a public record judgement from Ohio on my credit from 2002, the plantiff was a well-known collection agency (bought from a cc). I now live in NY. I have not been contacted since the judgement was awarded in 2002 to arrange for payment, but I recently noticed that this agency ran my credit report a month ago for purpose of collection. I now own a car and have a good job, so I am fearing they may come after my bank account and/or car (I have a loan on it).
    I am willing to either settle or pay the full amount of the judgement so that I can live without fear, but I have been hearing horror stories of agencies demanding thousands more than the judgement (credit card interest). I also researched that paying off the judgement does not help my credit score and also resets the 7 year clock on this debt.
    I would like advice on 1) if the agency will probably try to garnish soon 2) how I can stop the garnishment 3) how to negotiate either paying the full amount ONLY or settling 4) if I should pay the court, the agency or the cc company directly.
    Thank you for any and all help!

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    HONORED GUEST hannah's Avatar

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    Re: Advice needed for paying off judgement

    Quote Originally Posted by mer313131 View Post
    I am willing to either settle or pay the full amount of the judgement so that I can live without fear, but I have been hearing horror stories of agencies demanding thousands more than the judgement (credit card interest). I also researched that paying off the judgement does not help my credit score and also resets the 7 year clock on this debt.
    Untrue. Paying off a judgment does not reset any clock as the judgment is paid. End of story. There is nothing to reset. Judgments can remain on your credit reports for 7 years or in your case, the Ohio judgment statute of limitations. Most judgments however (other than tax liens) can be disposed of easily enough by disputing with the CRA's as obsolete at or near the 7 year mark, especially paid ones.

    The FCRA governs it with this section of the Act:

    § 605 [15 U.S.C. §1681c] (b)(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.
    Quote Originally Posted by mer313131 View Post
    I would like advice on 1) if the agency will probably try to garnish soon 2) how I can stop the garnishment 3) how to negotiate either paying the full amount ONLY or settling 4) if I should pay the court, the agency or the cc company directly.
    1) Unknown.
    2) They would have to domesticate the judgment in NY to garnish your wages or bank account. To do this they must file legal action against you in NY.
    3) Call them and tell them you are interested in settling the judgment. Make them an offer.
    4) You have to pay whomever won the judgment against you. Be careful here as they may have sold (assigned) it to another so make sure the ones you deal with actually own it. Be careful as well with making sure they send the Ohio court notice that the judgment has been satisfied. Get the whole transaction in writing and include that you will be copied on the satisfaction notice.
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    Re: Advice needed for paying off judgement

    Thanks for your reply, Hannah. In reference to getting the transaction in writing, should I call them, make an offer, then request the offer terms from them in writing before writing a check?
    Also, is it legal for this agency to tack on interest above what the judgement was granted for?
    Also, do I contact the credit bureaus to get the judgement removed after 10 years?
    Thanks!

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    HONORED GUEST hannah's Avatar

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    Re: Advice needed for paying off judgement

    Quote Originally Posted by mer313131 View Post
    Thanks for your reply, Hannah. In reference to getting the transaction in writing, should I call them, make an offer, then request the offer terms from them in writing before writing a check?
    Also, is it legal for this agency to tack on interest above what the judgement was granted for?
    Also, do I contact the credit bureaus to get the judgement removed after 10 years?
    Thanks!
    If you do not feel comfortable dealing with them on the phone, write them a letter and send it CMRRR saying you await their written response to your offer. Never pay anyone a settlement without getting the terms in writing with an authorized signature.

    Yes, they can tack on interest. Legal interest on judgments in Ohio is generally 10%, except judgment on instruments in writing stipulating other lawful rate, in which case interest on judgment is computed at the rate specified in the contract (§1343.02). Interest is computed from date of judgment or order to the date money is paid (§1343.03[B]).

    Yes, you say the judgment if from 02? Then late in 09 (after you pay this) dispute it with the credit reporting agencies as "obsolete". If a judgment is paid, 99 times out of 100 they aren't verified when disputed.
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    Re: Advice needed for paying off judgement

    I looked up the SOL on judgments in Ohio, and it is 21 years with 12 % interest.

    1) Does it matter that I am now living in NY? Would that mean that they need to file a lawsuit in NY in order to enforce the judgment?

    2) Does the 12% interest mean that they can tack on an additional 12% interest every year since 2002 if they want? I just want to be prepared for the worst possible scenario when I call/write them.

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    Re: Advice needed for paying off judgement

    1) When Hanna said "Domesticate" in earlier email she was telling you yes they have to file in a NY court and get the court to authorize them to take things from you in NY.

    2) Yes they can add the 12% since 2002

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    Re: Advice needed for paying off judgement

    Thanks for the quick reply. OK, I am sorry for asking kind of the same question again, but in order for them to "domesticate" the judgment in NY, do they have to contact me first? Or can they do this without my knowledge?

    Also, in anyone's experience, if I was to contact this plantiff (well known collection agency) and offer a settlement, for example 80% of the balance, do you think I have a good chance they would accept it?

    Or, should I go in with the strategy of paying the full amount of the judgment, and hope they accept that and do not press for the interest?

    And one more thing, should I try to get the bureaus to drop this judgement off my credit report, or just let it be and hope it falls off itself?

    I am almost starting to think that I should just continue to ignore them and hope they never ask for the judgment amount. Ugh!!!!

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    Lightbulb Re: Advice needed for paying off judgement

    New York does not have the UEFJA, so domestication is not so easy for your Ohio creditor. If they're not a national player (major Junk Debt Buyer), they must fall back on organizations like the Commercial Law League to get an attorney in New York to do the domestication action. Then, assuming you live in NYC, they would use a NYC Marshal (a unique quasi-governmental functionary who gets a percentage) to collect. More piggies at the teats equals less recovery for them. They know that all too well.

    Judgments often fall off at 7 years regardless of the FCRA allowing them to stay on your reports for the full duration of their validity.

    Start negotiations at 30%--you're far away, and the road ahead for them wouldn't be easy. Be sure any settlement agreement recites that no 1099-C form will be issued. Be sure the judgment creditor agrees to file a satisfaction anyplace they have recorded the judgment (often court and one or more county clerk/recorder's office(s)) and in fact follows through. Then wait patiently for the CRAs to show "paid" status (resist the urge to send them copies of any satisfaction ... once they show "paid", a "not mine" dispute often knocks them off w-a-a-y early).

    Don't be afraid to walk away from the first round if they're pushing too hard.

    Don't let 'em know where you bank, and don't deposit any small checks from dubious sources (investigative "trojan checks" that violate Gramm/Leach/Bliley, which has dull teeth to the extent it has any teeth at all).

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    Member flacorps's Avatar

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    Exclamation Re: Advice needed for paying off judgement

    P.S. - If your bank has any branches in Ohio, you might want to find a bank that doesn't have any branches in Ohio. Or even a bank that is Delaware only (according to Jonathan Alper's blog, Delaware doesn't allow bank accounts to be attacked by creditors).

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    Re: Advice needed for paying off judgement

    More accurately with respect to NY I should have stated that their adoption of the UEFJA isn't exactly like other states. They have to serve you and file a motion, and presumably if you oppose what they're doing there is a hearing.

    You may also want to check out what NY's laws have in the way of SOLs for out of state judgments. It's possible that if you've lived in NY long enough without the foreign judgment having been domesticated there, the time to get it domesticated may have already passed.

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    Re: Advice needed for paying off judgement

    Check your court house regarding making the in-full payment directly to the court. In Los Angeles County, you can do that so there's no BS from the CA or OC or whoever obtained the judgment...

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    Re: Advice needed for paying off judgement

    I have never been on this site, but I'm hoping I may be able to get some useful advice.
    My husband has a judgement from a hosptial bill for over $10,000. He had his appendix removed as an emergency operation when he was 19 yrs old, he will now be turning 29 in a few months, so it has been almost 10 yrs since his operation. How long can a judgement be held againt someone? Does it go by the 1st day the judgement was awarded? So if he had the operation when he was 19, but the judgement didn't go through until he was 25, does that mean he has to wait 7yrs from that date? We thought it would have already been off his credit. Where can I find laws in New York about judgements? I have been trying to look and that is how I find this site, but I haven't had luck finding laws on it.
    Thank you to anyone that can help.

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    Re: Advice needed for paying off judgement

    Quote Originally Posted by alexxa827 View Post
    I have never been on this site, but I'm hoping I may be able to get some useful advice.
    My husband has a judgement from a hosptial bill for over $10,000. He had his appendix removed as an emergency operation when he was 19 yrs old, he will now be turning 29 in a few months, so it has been almost 10 yrs since his operation. How long can a judgement be held againt someone? Does it go by the 1st day the judgement was awarded? So if he had the operation when he was 19, but the judgement didn't go through until he was 25, does that mean he has to wait 7yrs from that date? We thought it would have already been off his credit. Where can I find laws in New York about judgements? I have been trying to look and that is how I find this site, but I haven't had luck finding laws on it.
    Thank you to anyone that can help.

    A judgment in New York is good for 10 years and can be renewed for another 10 years. The judgment can be enforced during this period. Interest accrues on a judgment at 9% per year. So for every $1,000 face amount of judgment every year another $90 gets added in. A creditor with a judgment can garnish the judgment debtor’s (i.e., person who owes the judgment’s) wages, attach his/her bank account, put a lien on his/her house or any real estate, and seek to seize and sell his/her car or other assets.

    A judgment also appears on the credit report of the person owing the judgment for 7 years and will have a negative effect on his/her credit standing.
    Last edited by Enigma; 03-17-2009 at 11:26 PM.
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    Re: Advice needed for paying off judgement

    [QUOTE=flacorps;71824]
    Start negotiations at 30%--you're far away, and the road ahead for them wouldn't be easy. Be sure any settlement agreement recites that no 1099-C form will be issued. Be sure the judgment creditor agrees to file a satisfaction anyplace they have recorded the judgment (often court and one or more county clerk/recorder's office(s)) and in fact follows through. Then wait patiently for the CRAs to show "paid" status (resist the urge to send them copies of any satisfaction ... once they show "paid", a "not mine" dispute often knocks them off w-a-a-y early).
    QUOTE]

    Let me see if I under stand this right? Someone please comment.

    1.)when negotiating for a settlement you can ask to pay for them to delete this item from you report as well?

    2.)If items have already been paid you can dispute to the credit reporting agency that it is not mine?

    Wouldn't the CRA find this a frivoulous dispute if they find it is yours.

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    Re: Advice needed for paying off judgement

    [QUOTE=mike credit;76074]
    Quote Originally Posted by flacorps View Post
    Start negotiations at 30%--you're far away, and the road ahead for them wouldn't be easy. Be sure any settlement agreement recites that no 1099-C form will be issued. Be sure the judgment creditor agrees to file a satisfaction anyplace they have recorded the judgment (often court and one or more county clerk/recorder's office(s)) and in fact follows through. Then wait patiently for the CRAs to show "paid" status (resist the urge to send them copies of any satisfaction ... once they show "paid", a "not mine" dispute often knocks them off w-a-a-y early).
    QUOTE]

    Let me see if I under stand this right? Someone please comment.

    1.)when negotiating for a settlement you can ask to pay for them to delete this item from you report as well?

    2.)If items have already been paid you can dispute to the credit reporting agency that it is not mine?

    Wouldn't the CRA find this a frivoulous dispute if they find it is yours.
    You can ask for a pay for delete, it does not hurt to do so if yuo are inclined to pay the debt. If Item has been paid and listed on your credit file, I would look for something erroneous on the listing and make a factual dispute. As long as the dispute is factual then it is not a frivolous dispute and you can take that to the judge when the morons at the CRA's mark a legitimate dispute as frivolous.
    Last edited by Qtip; 04-14-2009 at 01:10 PM.
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    Re: Advice needed for paying off judgement

    PFD on a judgment does not exist because the reporting of the judgment was not initiated by the judgment holder. Rather it is a reporting of a PUBLIC RECORD. A third-party cannot invalidate the public record. And there is often no recourse to seek an unopposed Motion to Vacate because the time in which the Court retained jurisdiction over the case is often passed by the time someone ponies up to pay the judgment amount...
    I am not *your* attorney and you are not *my* client. Nothing in this post shall be construed as establishing an attorney-client relationship.

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    Re: Advice needed for paying off judgement

    O.k. but what if everything is timely and not erroneous. And you have already paid the collection company is there any way to get items removed before the 7 year sol?
    Last edited by mike credit; 04-14-2009 at 09:11 PM.

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    Re: Advice needed for paying off judgement

    Quote Originally Posted by mike credit View Post
    O.k. but what if everything is timely and not erroneous. And you have already paid the collection company is there any way to get items removed before the 7 year sol?
    Not generally.
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    Re: Advice needed for paying off judgement

    Could anyone help us? In California,the bank foreclosed and sold our condo over a yr. ago. We had stopped paying the HOA dues several months prior to the foreclosure assuming they would be paid when it was sold. The HOA recently filed an involuntary lien against us. How will this impact me? Can they garnish wages, take my car? Is there anything I can do to protect these? Help!

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    Re: Advice needed for paying off judgement

    Quote Originally Posted by martinez_001 View Post
    Could anyone help us? In California,the bank foreclosed and sold our condo over a yr. ago. We had stopped paying the HOA dues several months prior to the foreclosure assuming they would be paid when it was sold. The HOA recently filed an involuntary lien against us. How will this impact me? Can they garnish wages, take my car? Is there anything I can do to protect these? Help!
    How can they file a lien against you? They can lien the property, oh wait, you're in CA. Sorry.

    Research CA HOA lien laws.
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    Re: Advice needed for paying off judgement

    If you offer to pay the judgment - demand that they Dismiss the judgment, don't let them update the court house to show satisfied or released. If they dismiss then the credit reporting agency will immediately delete with proof obtained from the court house.

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    Re: Advice needed for paying off judgement

    Quote Originally Posted by NightStar View Post
    If you offer to pay the judgment - demand that they Dismiss the judgment, don't let them update the court house to show satisfied or released. If they dismiss then the credit reporting agency will immediately delete with proof obtained from the court house.
    Your statements are incorrect regarding judgment dismissal.
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