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!
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!