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Paying charge off judgment

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Traviata
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Subject: Paying charge off judgment
 
Posted on Thu Aug 05, 2010 4:26 am  

Hi,

I have a charge-off with a local Bank in Missouri. The Date of first delinquency is June, 05 and was charged off as a profit and loss debt in 2005 itself, and a judgment was rendered in the early half of 2006. Now, it has recently got updated to my TU credit report in April 2010. The reason for the non payment is that we are still in dispute over the amt owed.

The charge off was for 1023 and the judgment was for 1255. I discovered that the interest rate had been updated. My score dropped from 712 to a 635. I am just ready to get this settle but the right way. I want the entire tradeline deleted as well as any information pertaining to the account including the judgment once it is paid.

What should I do
Aaron

Aaron

Joined: 08 Feb 2010
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Posts: 2632



48565 Magic Points

Subject: paying charge off judgment
 
Posted on Thu Aug 05, 2010 8:04 am  

Hi Traviata,

I am not sure what you can do about the discrepancy regarding the amount. However, you can try settling the judgment amount.

Quote:
I want the entire tradeline deleted as well as any information pertaining to the account including the judgment once it is paid.
The entire tradeline deleted? But if you delete the whole item, this can hurt your credit. The judgment too cannot be removed. It will stay there on your credit report for 7 years (or may be more depending on the state laws on judgment). The account status can only get updated to "Satisfied judgment".

Thanks,

Aaron
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