[mindih]

I have a judgement for 1200. How do you recommend settling this and getting this judgement off my record. I don't own anything.

[ScottGem]

Once they have a judgement, they have little incentive to settle. You can try offering them half as a lump sum or try and set up a payment plan. But don't be surprised if they don't agree.

It won't come off your record for a while. Once its paid, it will be noted as satisfied then 7 years later it will come off.

[Fr_Chuck]

Well you start making payments, and after paid, you wait for it to get off your credit report

[Loan_Guy]

OK, wait a second. You said you "don't owe anything" I have a couple questions just for clarification...

Are you saying that you paid the debt and that it is still showing as unsatisfied or that the debt was / is not yours and someone got a judgment against you?

Also, when you say "settle" do you mean clears things up as if it is an error, or settle like in offering them $600 to pay it off in full?

I'm not trying to be a wise guy, but since these can mean different things, it would help to know the whole story and the situation at hand.

LG

[ScottGem]

OK, wait a second. You said you "don't owe anything"

Read it again, he said OWN not OWE. I believe he's trying to say he's judgement proof.

[Loan_Guy]

Scott,

Thanks for pointing that out. I guess my eyesight is going. There was something else not working, but I forget what it is... ;)

You are 100% correct... that does not make him judgment proof. In all actuality, if he doesn't own anything yet, he may have a thin credit file which will make the judgment hurt even more...

Same questions apply though. Did he get a judgment against him by default because he was not notified of the court date. I see that a lot by some of the less-ethical debt collectors. If it is true, well...

As far as settling, the party that sued him has no reason to take less that what they are owed, as it will continue to hurt him for years after it is paid off.

My advice: if it's your's and it's correct, pay it off sooner rather than later and chalk it up to experience.

Thanks again Scott!

LG

[appobene]

Hey guys... If you don't own anything they got no point in holding against you...
Without sounding too eager and offer them an amount that you are comfortable with,and put in writing a stipulation that states explicitly when you pay it off that should me removed from your credit file...
Or just vacate the judgment to begin with... they would not fight it that hard for that amount..