judgement..company closed and sold debt now have judgement and new company attempting

[fit2train]

What is the name of your state?Virginia

Hi, My question is.....Have a judgement from 2000 that is still against my credit......the company has since gone out of business and sold that debt to another collections company...now the collections company is coming after me trying to collect the debt, even though it's still a judgement against me on it.........Is this legal???? ...........so now i face having this collections company try to put a judgement against me too.............any info is greatly appreciated

 

[Debt Guy]

If I understand, a creditor was awarded a judgment against you. That creditor no longer exists but the judgment has been sold to someone else who is trying to collect.

You ask if this is legal. Yes, it is legal to sell a judgment to a third party. You are obligated to pay the owner of the judgment. The fact that the orginal judgment creditor no longer exists is not relevant.

The collection agency contacting you may be nothing more than just an agency of the owner. Or, they could be the owner of the judgment.

Regardless, they are subject to the Fair Debt Collection Practices Act. You may read the FDCPA at www.ftc.gov.

 

[fit2train]

actually what you're saying i know.........but what im saying is.........how can they keep original judgement against you........and then come after you with a new collections and actually put a 2nd judgement against you for the same debt??? again thanks for any info......and im not trying to sound like im doubting what you say......so please dont take it that way

 

[Ladynred]

They CAN'T get a 2nd judgment for the SAME debt, it has already been reduced to judgment. They buy and sell judgments just like they do bad debts, it doesn't matter, the judgment is filed in the court against you and there it will remain until you pay it.

However, what you DO need to find out is if the judgment has been amended to show the new owner as the judgment creditor.

 

[fit2train]

lady it doesnt..........they arent assuming the judgement...they just bought the debt........trying to say that the judgement is a different debt...which it isnt.....it's the same debt, however, the amount is lower because the judgement reflects original debt plus fees associated with it..........and the amount they are trying to collect doesnt have the attorneys fees etc.........how am i to prove that they are trying to collect same judgement as original creditor since original one is no longer in business.........cause when i pulled my credit report it has the original creditor with the original debt.......before crt......then after the judgement it has different amount because of attorneys fees........and only has a docket # on judgement not account # .........also if they arent taking over the judgement and are just gonna go with the debt.....on my report it says was opened in 97 and updated in 2000......so if they didnt buy the judgement just the debt....which year would i go by for statue of limitations????? thanks

 

[Debt Guy]

Please, try to communicate in complete sentences. It is oh so much easier to read.

When a judgment is awarded the debt no longer exists legally.

If someone is trying to collect the debt and someone else is trying to collect the judgment, then it is a mistake and plainly wrong.

You need to pull together the documentation to show that the debt and the judgment are the same. You need to go to the courthouse and ask to see your judgment file. In that file there should be some documentation (probably the original complaint) that describes the debt (original creditor, account number, amount, etc.). Also get the judgment number, docket number or whatever it is called in your state. This should give you all the facts you need to substantiate your belief that the debt and the judgment are the same.

The statue of limitations for the judgment begins to run from either the date it was issued or the date it was recorded in the public records (depends on the state). What is on your credit report is probably not very helpful in this regard.

Again, assuming you are correct that the "debt" and the "judgment" are one and the same, then the debt no longer exists -- so SOL is a moot point.

You should ask the person attempting to collect the "debt" to describe it in terms of name of original creditor, original creditor account number, balance, date of last payment, etc. If everything lines up with what you discovered for the judgment, then just tell them that they do not have a legally valid debt because it has already been rendered to a judgment. If all else fails, you should demand that the person attempting to collect the debt validate the debt. You can find a sample of the letter to send at www.creditinfocenter.com/forms.

I don't know what else to tell you. Lady may have more ideas.

 

[Ladynred]

I have to agree with DebtGuy. Get a copy of the judgment case file, it will detail who the creditor was, what amount they sued for, and other details.

If insist on trying to collect on a debt that's been reduced to judgment, then ask for proof via debt validation.