legality of judgement

What is the name of your state? AZ

I have a judgement on my credit report. The original debt is from 1993. I believe the lawyer who filed the judgement purchased the delinquent account from the original creditor. He didn't file the judgement until April 1998. Before he filed the judgement, he sent me a contract to sign regarding payments between him and me. I thought his terms were unreasonable and wanted to do business only with the original creditor. I wrote a contract with terms I thought were more reasonable and mailed it back. We evidently did not see eye to eye and he filed the judgement. I assumed that the debt would be off my credit report in seven years....counting from the original debt. As it is still on my credit report, I guess I assumed incorrectly. What now? How long can this legally stay with me? What are my options??? I want good credit!
Is he even within the law? Can he actually purchase a delinquent account and add years to the life of original debt?

[Ladynred]

He can and did when he got the judgment. If the debt had been past the SOL when he sued and you did not go to court and use the expired SOL as your defense, then he managed to get a judgment for a debt that you were not obligated to pay. Its legal and he CAN do it. The judgment will stand on your credit report from the time it is granted.. which was 1998. You've got until 2005 before this one goes away.

Judgments in AZ are good for 10 years and are probably renewable so this could very well follow you for a VERY long time.

[JETX]

Q1) "I have a judgement on my credit report. The original debt is from 1993. I believe the lawyer who filed the judgement purchased the delinquent account from the original creditor. He didn't file the judgement until April 1998."
A1) Your post is a little confusing in that you seem to be using judgment to mean debt. It appears that the debt was from 1993, and a lawsuit was filed at some point. When?? Then the lawsuit resulted in a judgment being rendered against you. When?

Q2) "We evidently did not see eye to eye and he filed the judgement."
A2) Confusing again. I assume you mean that he filed the lawsuit and then got a judgment.

Q3) "I assumed that the debt would be off my credit report in seven years....counting from the original debt. As it is still on my credit report, I guess I assumed incorrectly."
A3) Yes, you were incorrect. The original debt could only be reported for 7 years, but the judgment is treated as a new debt. And since a judgment in Arizona is valid for 5 years (and renewable every 5 years) it could be valid 'forever'..... until paid.
And since it is valid forever, the creditor could report this on your credit history for 7 years after its expiration (meaning forever).

Q4) "What now?"
A4) You either negotiate a settlement and pay it, then have the creditor amend the credit 'hit' to reflect 'paid as agreed', or you don't pay it and it continues on your history.... and to accrue interest.

Q5) "How long can this legally stay with me?"
A5) As noted in A3, pretty much forever if the creditor renews.

Q6) "What are my options???"
A6) See A4

Q7) "I want good credit!"
A7) Then pay it.... paying your valid bills is the best road to 'good credit'. Failing to pay valid bills is the main cause of 'bad credit'.

Q8) "Is he even within the law?"
A8) I don't see any violations from your post.

Q9) "Can he actually purchase a delinquent account and add years to the life of original debt?"
A9) As noted above, that isn't what he is doing.