First Time Homebuying, settlement hinderance
Date: Sun, 08/11/2013 - 11:08
This should be a simple
This should be a simple process, I've been told to contact those three companies and demand written proof the account has been resolved.
The accounts are paid and closed....they dont have to send you anything after the fact. Even if you had gotten a paid in full immediately after paying the debt, it does NOT remove them from your credit report. They will simply report as a paid collection. FYI...paying a collection account is not postitive...your score will not go up because you paid them. Paid or unpaid...they are both negative and will continue to report for the remaining portion of the 7 year reporting SOL.
However, I also have a judgement from Michael Scott, P.C. I was young and never did anything about the judgement because I didn't have money at the time. In hindsight it was very foolish, but now I am dealing with the consequences.
Then you are stuck with the results of the judgment balance and the accruing interest. Your mortgage inquiry was probably the nail in your coffin...they know you want something and they are going to hold it over your head. What your balance WAS is irrelevant....it is now what it is. You own a home now? They have a lein on it and they will use that power to secure the debt...you will not be able to sell your current home until the lein is paid and the title cleared.