Paying judgment, change of who I write out checks to?

[klhofbauer]

What is the name of your state?What is the name of your state? AZ

Howdy!

Okay, I have a judgment against me from 2004, that I'm paying on, and have been since it was rendered. I also speak with the attorney every month, and get regular statements.

I've been paying more than the agreed upon amount and will have this paid off in 7 more months - 5 months early. (yeah!).

Stipulated Judgment - which, I understand now really doesn't mean anything different than a "judgment". (unfortunately, didn't know the difference back then).

Questions:

1. I've been paying the attorney here in Arizona for the past 14 months, with the checks made out directly to the Attorney. Now, all of a sudden, I get a letter in the mail from their main office telling me that I need to mail the checks to their main office and make them payable to Citibank instead.

Q: Why? Does anyone know why this would happen? (when I spoke with the main office, they had just received my file from Arizona)

Q: Judgments stay on your CR's for.. ?? 7 or 10 years? And, how will trade lines be? (or should they look). Will it say "paid collections" in the Citibank line? I'm just curious, I'll be pulling my reports on December 2nd.

Q: What happens when I make the last payment? Don't the attorney's have to file a satisfaction of judgment? Do I get copies of all of this paperwork? (yes, I'll save it, I save everything 10 years) And, how long after the last payment should I expect that this "satisfaction of judgment" will take?

Thanks!

KH

 

[seniorjudge]

Before you start sending money to someone who bought your judgment, make sure you have complete details in writing you understand BEFORE you give them a dime.

 

[klhofbauer]

Before you start sending money to someone who bought your judgment, make sure you have complete details in writing you understand BEFORE you give them a dime.

SeniorJudge,

Thank you for replying.

I'm sending my monthly payment to the same company, just their main office in Minnesota. (they did tell me that when I sent the payment to their law office here in Phoenix that they overnighted payments to the office in Minnesota, so I understand the reasoning behind the change here).

What I don't understand - and they haven't been able to tell me - is why, after 14 months, that I am now making my checks payable to "Citibank" instead of the law office. (Citibank was the OC).

I'm also curious as to what happens when I have this paid off.

Thanks again,

KH