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Money Judgment

Date: Mon, 05/24/2010 - 07:41

Submitted by anonymous
on Mon, 05/24/2010 - 07:41

Posts: 202330 Credits: [Donate]

Total Replies: 13


I have a money judgement in WI from 11 yrs ago. I was given wrong information a while back that after 6 yrs the SOL would be up. I now have just discovered after doing research (because I had a debt collector call) that it is 20 yrs and in WI they can renew once.

Here are my questions,
1. I would like to pay this off and not have to deal with this anymore, but am leery of doing it with a debt collector. Should I wait for them to take me back to court before doing anything?

2. Do I try to settle it now and get a lawyer to help?

3. How long after the 20 yrs can they take to renew, it renewal automatic or do they have to do it in a certain length of time?

I have literally not had anyone contact me on this is 7 yrs and had forgotten about it. It is not something I am proud of, so if I can get it paid off and never have to worry about it I would be happy. But don't want to deal with making a deal and then having another debt collector coming after the rest. Any advice would be appreciated.


1. I would set up payment arrangements that you can afford. Get it in writing and make sure to document all of your payments so you have the proof that you paid.

2. You can likely settle it yourself and save money.

3. These aren't renewable in the state of WI. (see below)

Wage Garnishment and Property Exemptions -- Wisconsin
WAGE GARNISHMENT EXEMPTION: 80 percent of net earnings
MAXIMUM INTEREST RATE: Legal: 5% Judgment: 12%
STATUTE OF LIMITATIONS ON ENFORCEMENT:
Open Account (credit card): 6 years
Written Contract: 6 years
Domestic Judgment: 20 years
Foreign Judgment: 20 years


lrhall41

Submitted by OhioGal1 on Mon, 05/24/2010 - 08:06

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Thank you, for the answers. How can they levy a bank account attached to a business? I have the money to pay but here is the problem they are not saying my name correctly when they are calling and I have not gotten anything in writing. I just know they called based on the number. I can pay it in full but don't want to go seek out someone if you know what I mean.

OhioGal, I had a WI lawyer tell me they can renew once on a written judgment so that is not correct?


lrhall41

Submitted by on Mon, 05/24/2010 - 09:55

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Thank you, for the answers. How can they levy a bank account attached to a business? I have the money to pay but here is the problem they are not saying my name correctly when they are calling and I have not gotten anything in writing. I just know they called based on the number. I can pay it in full but don't want to go seek out someone if you know what I mean.

OhioGal, I had a WI lawyer tell me they can renew once on a written judgment so that is not correct?


lrhall41

Submitted by on Mon, 05/24/2010 - 10:29

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Some states can. According to my research, WI can't. I'd go straight to the horse's mouth. Since you're in WI, you should be able to use the 800 #. Just call and ask them what's the SOL on a judgment and is it renewable?

Office of Consumer Affairs
Department of Financial Institutions
P. O. Box 8041
Madison WI 53708-8041
800-452-3328 (Wisconsin residents only) or 608-264-7969


lrhall41

Submitted by OhioGal1 on Mon, 05/24/2010 - 11:01

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Also, if I want to go about paying this debt off. Does anyone know how I do that. I do not want to contact a debt collector and risk the SOL starting all over again. I do want to pay it off or reach a settlement if I can.

Since they are just calling on the phone and haven't sent me a letter. What do I do, wait for a letter?


lrhall41

Submitted by on Mon, 05/24/2010 - 11:15

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SoapLady, I have moved but they have this number. They keep asking for Christine which is close to my name but not my name.

I do have an address that I found from hunting do I write them and ask them from written verification of the debt they are trying to collect. Can I do that? I really would like to pay off the debt if possible.

If I get written verification, what questions to I ask them so that maybe they will take a lower amount and then the judgment will be done with. I just don't want pay like $5000 and then have someone come after for more money. So how do I prevent that.


lrhall41

Submitted by on Tue, 05/25/2010 - 20:13

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It is a little late to be asking for verification after a judgment is rendered. The court order or judgement would now be your verfication for your base amount plus whatever the judgment interest rate is in your state.

You should be able to get a settlement offer in writing from whoever is collecting it. Your settlement offer plus a copy of the cashed check is your proof that the judgment is satisfied.


lrhall41

Submitted by SOAPLADY on Tue, 05/25/2010 - 20:24

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Well I want written verification that it is the correct debt. I don't want to pay someone else's check. Soaplady this is something I did 11 yrs ago and am not proud of. I am just wanting to pay it off is all.

So can I write them and ask for a settlement offer or do I write and ask to verify that they indeed are the ones that own the debt. I just don't want to pay someone without verification if you know what I mean. Also is it best to send everything certified.


lrhall41

Submitted by on Tue, 05/25/2010 - 20:30

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How do I go about contacting this company to ask for verification of the debt and to start the settlement process. As I would like to take care of this. Any help would be appreciated. I also want them to correspond via mail only. How do I do that. I was thinking of sending them a letter via certified mail.


lrhall41

Submitted by on Wed, 06/30/2010 - 11:24

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