Subject: NEED SOME STRONG ADVICE ABOUT JUDGEMENT PAYOFF.
Thu Jun 17, 2010 4:00 pm
OK, I have two judgments that I am in a position to payoff today. One is with a Credit Union and the other is with AT&T. Both of them have been turned over to two different law firms. They both are about $600 dollars each. Should I just call the law firm and pay them over the phone to get it over with or what are the steps that I should take. They are the two major things on my credit report. Also how will this improve my credit score. Please advise as to what steps I should take.... _________________ The most important thing for a young man is to establish credit - a reputation and character.
John D. Rockefeller
First of all can I know how many years have passed since the judgments have been entered on your credit report? The judgments will stay on your credit report for 7 years even if you pay off the judgment amount.
As for the payments, it is not safe to arrange the payments over the phone. First talk to the law firms, and get written payment agreements. Request them to update your account as "Paid judgment". Pay them through certified mail, requesting a return receipt (CMRRR). If you send your payments through CMRRR, you will be able to retain proof of your payments.
It was entered on my credit report in 2007 and I have gotten a copy of bought of the from the courts. So should I call them? Is there a way to have it removed after payment? What will help my credit score with the two? I need all the answers you can give me. Thanks! _________________ The most important thing for a young man is to establish credit - a reputation and character.
John D. Rockefeller
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.