Settling a judgement?
Date: Fri, 02/04/2011 - 15:59
My problem stems from a judgement attained against me back in 2005 by Worldwide Asset Purchasing (a debt collection agency). I am tired of having this on my credit as it's really the only bad mark.
I am planning on offering them a settlement amount of $2500, but they say I owe them $8100 (as per my credit reports and after them tacking on late fees and interest). Is there any chance of them settling for this amount since the debt (with them) is five years old? Any advice would be greatly appreciated!
I am planning on offering them a settlement amount of $2500, but they say I owe them $8100 (as per my credit reports and after them tacking on late fees and interest). Is there any chance of them settling for this amount since the debt (with them) is five years old? Any advice would be greatly appreciated!
Probably not. Keep in mind you have also been charged court fee
Probably not. Keep in mind you have also been charged court fees and legal costs as well.
Judgments in some states can be renewed and last up to 20 years. It is not likely they will settle that low.
Check SOL in ur state. Ilive in OK and sol is 5 years if they do
Check SOL in ur state. Ilive in OK and sol is 5 years if they dont renew judgement in 5 years it will fall off ur report in 7 years.
