Judgment
Date: Wed, 10/15/2008 - 14:02
No , what that means is they wrote it off as a bad debt so they
No , what that means is they wrote it off as a bad debt so they can claim it of their taxes as a loss so they can get money back from Uncle Sam at the end of the year. They will end up either selling the debt to a 3rd party collector for around 10 cents on the dollar to try and collect on the debt or hire a 3rd party collector top work on a contingency basis to collect. Either way you are still financially obligated to pay that debt.
Settlement
It does not show on my report that I have a judgement, because we made a verbal agreement in front of the judge, would I be able to contact them for a possible settlement?
If its at the point of litigation you can try to settle but unle
If its at the point of litigation you can try to settle but unless you have some sort of lump sum lying around I doubt it will be an option. Honestly your most likely bet would be to work out some sort of payment arrangement.