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Judgement Collections

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tjsperare

Junior Member
What is the name of your state (only U.S. law)? California

A few years back (2007 - 2008), I owed money (credit card debt) from a number of creditors, most of which I defaulted.
The last action for most of this debt was between 2009-2011. Most of it 3-4 accounts got consolidated to one debt collector while 2 got transferred to different collectors.

One of these debts is a store credit card that started out at $2000 which is now around $5.5k post judgement. It was transferred from the original creditor, DLA: 12/2010, to a collector, then to a lawyer representing the collector. I believe they have tried sending letters to my previous address (California 2007-2010), which I have not received due to the fact that I was overseas (they were not informed of this fact and no intent for them to know), My relatives own the house but we are not in good terms, thus I got a judgement since I was not informed of the court asking me to appear. Judgement date: May 2013.

When I started owing all this debt, I was a college student, since I didn't know what to do after all the mistakes I have done, I ran. Of course, since the beginning I knew that this needs fixing. I have every intention to pay the amount I owe but I try to make ways to pay the least interest possible.

Fast forward, now I am back and they have mailed a letter to an address I have at the moment, 2015. Right now, I am ready to pay either monthly or cash, which I have an amount close to pay off the judgement, but of course, there is a part of me wishing that I could pay less than the $5.5k that I owe. The reason is, I would like to pay off the other debts that didn't have a judgement, whatever I save, I pay to the next collector.

Here are the questions and thoughts I have in mind and correct me if I am wrong.

1.) Is there a way to satisfy the judgement with the least damage to my credit?
No, If I pay the amount that I owe on the Judgement, $5.5K, it would restart the 7-10 years before it disappears from the credit report even if paid.
*Some people tell me that it is possible to ask the lawyers for a payment for deletion, but does this apply for a judgement?

2.) Is there a possibility that I would be able to settle the debt 40-50% of the current amount?
No, it is not possible on a judgement. Or would it depend on the lawyers?

3.) I believe that I own the debt but since I do not have the letters they sent between the DLA from the Store creditor to any notice before 2015.
Should I still ask for any documentation they have regarding the assignment of the debt?

4.) Should I contact a lawyer?


Thanks for any response!
 


Zigner

Senior Member, Non-Attorney
What is the name of your state (only U.S. law)? California

A few years back (2007 - 2008), I owed money (credit card debt) from a number of creditors, most of which I defaulted.
The last action for most of this debt was between 2009-2011. Most of it 3-4 accounts got consolidated to one debt collector while 2 got transferred to different collectors.

One of these debts is a store credit card that started out at $2000 which is now around $5.5k post judgement. It was transferred from the original creditor, DLA: 12/2010, to a collector, then to a lawyer representing the collector. I believe they have tried sending letters to my previous address (California 2007-2010), which I have not received due to the fact that I was overseas (they were not informed of this fact and no intent for them to know), My relatives own the house but we are not in good terms, thus I got a judgement since I was not informed of the court asking me to appear. Judgement date: May 2013.

When I started owing all this debt, I was a college student, since I didn't know what to do after all the mistakes I have done, I ran. Of course, since the beginning I knew that this needs fixing. I have every intention to pay the amount I owe but I try to make ways to pay the least interest possible.

Fast forward, now I am back and they have mailed a letter to an address I have at the moment, 2015. Right now, I am ready to pay either monthly or cash, which I have an amount close to pay off the judgement, but of course, there is a part of me wishing that I could pay less than the $5.5k that I owe. The reason is, I would like to pay off the other debts that didn't have a judgement, whatever I save, I pay to the next collector.

Here are the questions and thoughts I have in mind and correct me if I am wrong.

1.) Is there a way to satisfy the judgement with the least damage to my credit?
No, If I pay the amount that I owe on the Judgement, $5.5K, it would restart the 7-10 years before it disappears from the credit report even if paid.
*Some people tell me that it is possible to ask the lawyers for a payment for deletion, but does this apply for a judgement?

2.) Is there a possibility that I would be able to settle the debt 40-50% of the current amount?
No, it is not possible on a judgement. Or would it depend on the lawyers?

3.) I believe that I own the debt but since I do not have the letters they sent between the DLA from the Store creditor to any notice before 2015.
Should I still ask for any documentation they have regarding the assignment of the debt?

4.) Should I contact a lawyer?


Thanks for any response!
One thing I'll say...everything's negotiable.

Beyond that, why should we help you evade paying a debt that you acknowledge owing?
 

Zigner

Senior Member, Non-Attorney
For reference, here's the OP's original thread: https://forum.freeadvice.com/debt-collections-84/subpoena-credit-card-debt-help-582958.html
 

tjsperare

Junior Member
Thanks for that, I have been trying to retrieve that.

Anyway, well you are right..

I was kind of evading it at that time because I had no means of paying, no means of coming back here back in 2012.


Now, i'm concerned that if I start talking to my collectors would I make it worse, which I am torn between talking to them directly or talking to a lawyer?
 

tjsperare

Junior Member
Settlement

Since this was my original post regarding the matter, this is where I am right now.

Currently, I have some spare cash to go around to pay most of the debt on my judgement, which will be dealt with and be paid off by the end of this month. But as this journey of repayment just started for me, I would like to know what you guys think about dealing with the rest of the problems I have.

Other debts that I have vary on DLA and SOL's, some have 2010 DLA while others have 2011.

Example:
Original Creditor DLA on Credit Report 06/2011
The Original Creditor sold it to a Credit Agency (opened 11/2011) who became the Creditor who then gave it to a Debt Collector (04/2016), its very confusing to me but now the Debt Collector/Collection agency is sending me a letter stating that I have to opportunity to settle my debt with a lower amount than I originally owed.

But it also states, "THE LAW LIMITS HOW LONG YOU CAN BE SUED ON A DEBT. BECAUSE OF THE AGE OF YOUR DEBT, _____ WILL NOT SUE YOU FOR IT. AND ____ WILL NOT REPORT IT TO ANY CREDIT REPORTING AGENCY."

I have asked people before and I have been given mixed opinions, a banker once recommended to just leave it until it goes past SOL. I have not asked a lawyer but some of the information I have read here are saying that paying off something is better than not paying at all. Some opinion here also states that it is zombie debt.


SO the Big question,
Would it be better that I settle and pay the amount now and revive the SOL but have a paid as agreed or wait for the SOL to end then settle?
If I settle does it mean I have to wait another 7 years before I can get a better credit score? or is there a way for me to lessen the damage done of me paying it.


My real concern/question to you guys is this, the pros and cons of paying Before or After SOL... Based on this forums, it is worse if not paying at all. So I want to know when it is better for me to get it done.

Thanks.

PS: if i made a mistake on my assumptions any help would be great. I'm only reading through any information I can get and making assumptions based on how I understood it.
 

Zigner

Senior Member, Non-Attorney
This forum is not designed to help you evade your debt. I would suggest that you speak with a reputable credit counselor.
 

tjsperare

Junior Member
This forum is not designed to help you evade your debt. I would suggest that you speak with a reputable credit counselor.
I was trying to determine when the best time to pay, not evade. but I guess i'll look for a credit counselor. Thanks for the suggestion.
 

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