1. Free Legal Help, Legal Forms and Lawyers. TheLaw.com has been providing free legal assistance online since 1995. Our most popular destinations for legal help are below. It only takes a minute to join our legal community!

    Dismiss Notice

Judgment on Credit Report

Discussion in 'Other Debt, Collection, Garnishment' started by equinox308, Jan 15, 2010.

Thread Status:
Not open for further replies.
  1. equinox308

    equinox308 Law Topic Starter New Member

    Messages:
    10
    Likes Received:
    0
    Trophy Points:
    0
    --------------------------------------------------------------------------------

    State of California:


    I have some unpaid credit card debts stemming back 10 years ago and since receive the occasional 'collection letters' from various companies who bought off the credit card debts from the original credit card companies.

    Most recently I just requested my credit report for the first time and found out from the credit report I have no "collections" actions,etc. but under Public Records, that I have a Judgment on my account filed 11/2005 with a local court and the fee amount of $7,000 from Plaintiff: Credigy Receivables. Over the years I never received any notice from anyone regarding this. It may or may not be correct, so my first question is what should I do from here to get this resolved or even removed from my credit report? For date reported it says N/A and status, satisfied date, verified date fields are all blank.

    The other question-today I received a letter from a Gryphon Solutions referencing the above Judgment and stating that they have the authority to resolve my account in full for $956. Is this a fraud or is this legitimate, and what should I do, take the offer or find a lawyer?? (what type of Lawyer can best help me in this situation??)

    Thanks for your time and replies
     
  2. jharris352

    jharris352 New Member

    Messages:
    2,837
    Likes Received:
    344
    Trophy Points:
    0
    You will not be able to hire a lawyer for under $956 to take care of the matter. Offer them $500 and settle it once and for all.
     
  3. mightymoose

    mightymoose Moderator

    Messages:
    11,478
    Likes Received:
    2,026
    Trophy Points:
    113

    Yep- at this point they will be happy to get anything. The company that now owns the debt paid practically nothing to get it. Even a few hundred dollars would be a profit to them.

    The good thing is that it will get the debt settled and you won't have then trying to collect anymore... the bad thing is that when they update the account the new activity will make it pop back up on your credit report.

    Any agreement you make with them needs to include, in writing, exactly how the account will be reported to the credit agencies. It also needs to state that your payment is a settlement offer, not an installment payment on the full balance. Usually, an entry on the credit report that says something to the effect of "paid as agreed" is the best you can hope for.

    However- if you pay them nothing and don't respond, there is a good chance they will never do anything at all. Once you reply to them and pop up on their radar they will be all over you... so don't contact them unless you intend to pay.
     
  4. equinox308

    equinox308 Law Topic Starter New Member

    Messages:
    10
    Likes Received:
    0
    Trophy Points:
    0
    Thank you for the assistance. I agree and like to go your recommended route to settle this once and for all, however, my question is "how do I know that this new collector offering the settlement is valid"?? They do refer to the original collector's name but nothing else...

    Thanks again
     
  5. equinox308

    equinox308 Law Topic Starter New Member

    Messages:
    10
    Likes Received:
    0
    Trophy Points:
    0
    Thank you MMoose-The judgment indicated that it was filed in 11/2005, and like i mentioned I never knew or heard from anyone until I got my credit report recently which showed the judgment..

    You said, "the bad thing is that when they update the account the new activity will make it pop back up on your credit report" and "if you pay them nothing and don't respond, there is a good chance they will never do anything at all"....so would it be wiser strategically not to pay them at all since this would prevent the updated account activity to pop back up on my credit report (knowing there is good chance they may not do anything?? considering this was filed back in 11/2005) OR what would the account updates on my credit report look like if I paid the amount?? Wouldn't that be considered good since I settled it??

    Thank you very much again..
     
  6. mightymoose

    mightymoose Moderator

    Messages:
    11,478
    Likes Received:
    2,026
    Trophy Points:
    113

    It may not be a valid judgment... you can dispute the judgment and have them produce proof before you pay anything.

    Paying the account off will make it reappear on your credit report, which, even though now paid, would still show as a negative mark on your credit.

    You said you had been served papers... if you have been served legitimate papers to appear in court over this, then you are best off to settle while you can.

    If you have not received something compelling you to go to court then don't be in such a rush to pay it off. Validate the judgment on the credit report and take your time to work out an agreement with the company. Be sure to work out the details of how the settlement will be reflected on the credit report.

    You can also have them produce evidence to you that they legally own the debt and are entitled to make the offer and receive your settlement.
     
    Last edited: Jan 16, 2010
  7. equinox308

    equinox308 Law Topic Starter New Member

    Messages:
    10
    Likes Received:
    0
    Trophy Points:
    0

    Thanks again for your expertise MightyMoose- No, actually I was not served anything nor did I ever received anything regarding the judgment. I only found out about the judgment when I obtained a credit report recently.

    I am going to try to obtain the full court case file tomorrow and keep you posted, thanks so much!
     
  8. tpajet

    tpajet New Member

    Messages:
    615
    Likes Received:
    63
    Trophy Points:
    0
    Let me clarify something that has already been said. When a collections agency buys the debt, they buy it at a fraction of the original amount you owe. So if the debt was originally $7,000, it probably got bought the first time for about $3,500 or so. Since it has gone on this long with no action on your part, it has been sold from one agency to the next, each for less than the previous one paid for it. Basically they give up and unload it for what they can.

    Anyway, when an agency buys the debt, any amount over what they paid is profit (minus their regular expenses). The current agency probably bought the debt for a couple hundred dollars, so $956 is still a good profit for them, and as stated they probably would take $500. Whatever you pay, it will consider the debt settled. It will show up as a negative on your credit report for up to 7 years, but if you don't do anything, it will still be a negative that remains until you die.
     
  9. mightymoose

    mightymoose Moderator

    Messages:
    11,478
    Likes Received:
    2,026
    Trophy Points:
    113

    There is a good chance that the judgment entry in the credit report is not valid. The OP needs to pursue that end and determine if the judgment can be removed and whether proper notice was given at the time it was issued.

    If it hasn't been done so already, the judgment on the credit report should be disputed with every credit agency, and a letter should be sent to the agency that has the judgment requesting a copy of it.
     
  10. equinox308

    equinox308 Law Topic Starter New Member

    Messages:
    10
    Likes Received:
    0
    Trophy Points:
    0
    UPDATES to include original content:

    I have some unpaid credit card debts stemming back 10 years ago and since receive the occasional 'collection letters' from various companies who bought off the credit card debts from the original credit card companies.



    Most recently I just requested my credit report for the first time and found out from the credit report I have no "collections" actions,etc. but under Public Records, that I have a Judgment on my account filed 11/2005 with a local court and the fee amount of $7,000 from Plaintiff: Credigy Receivables. Over the years I never received any notice from anyone regarding this and never saw any letters from a "Credigy Receivables" at all.



    I obtained the entire case file from the court and my name on the Judgment is correct, however, all "two" of the addresses listed where I was served were totally way off. In addition it listed that the served letter was left with a "co-occupant" at one of the wrong addresses whose name I never even heard of.



    Then on Jan 15th, 2010 I received a letter from a Gryphon Solutions referencing the above Judgment and stating that they have the authority to resolve my account in full for $956. I did verify their name as one of the most recent plaintiff's named on the Judgment who bought the case from a previous plaintiff/collector(s).



    Then now on Jan 25th, 2010 I received a letter "DEPOSITION OF SUBPOENA FOR PRODUCTION OF BUSINESS RECORDS" from an attorney referencing they represent Gryphon Solutions requiring copies of paycheck stubs, bank statements, etc for a current credit card account I have which has been paid to date and in good standing..the letter lists my accurate social security number for the first time in all documents ever received pertaining to this case and Judgment, and references a current credit card I have and the date it was opened...WHAT DOES THIS CURRENT ACCOUNT HAVE TO DO WITH ANYTHING or past debts?? I believe they obtained this info

    (current good standing credit card, social security number, current accurate address) from a recent credit report as my credit reports indicate they made the inquiry sometime 12/2009.



    So my questions are: 1.) perhaps my Judgment may be for the wrong person as none of the addresses served were correct (my credit reports clearly indicate all my accurate previous addresses). What can I do to get this removed or resolved?? **If for some reason the Judgment is correct, I was served at wrong addresses and didn't find out until now, what can I do then??



    2.)Re. the Gryphon Solutions offer to settle, why would they send me an offer one Jan 15th (offer expiration date of Feb 11th) and then later send a subpoena for records on Jan 25th (respond by Feb 22 date)??? Are they trying to get me to settle based on their offer?

    **And why are they asking to subpoena information for an unrelated account, one that is current and paid in good standing??





    Thank you for reading this case in detail and please do offer your suggestions and relevant legal course of actions.
     
    Last edited: Jan 27, 2010
  11. mightymoose

    mightymoose Moderator

    Messages:
    11,478
    Likes Received:
    2,026
    Trophy Points:
    113

    If I understand correctly, you don't know what accounts the judgments are regarding? You said you had outstanding credit card debt, so the accounts are most likely yours... but since they have been sold and changed hands you may not know which ones they are.

    Since you can prove that service was not made you can probably get this judgment vacated... I am not sure if a new judgment can be pursued or not since the statute has long passed. It was the responsibility of the plaintiff to ensure you were properly served, and you can prove that you were not.

    First things first, reply to the agency trying to collect from you and deny responsibility for the debt. Inform them that the information regarding the judgment in your credit report is inaccurate and that you are working to have the judgment vacated.... then do exactly that and get it removed.

    They might still be able to start over from scratch though.
     
  12. equinox308

    equinox308 Law Topic Starter New Member

    Messages:
    10
    Likes Received:
    0
    Trophy Points:
    0
    As always, thank you MMOOSE: Should I enlist an attorney for the case willing to help on a "contingency basis" like this one I found
    (Paul E. Smith out of San Diego, CA. he has a webpage)

    1.) My concern is that I am not sure whether I should initiate any communication with them trying to inaccurately collect on the Judgment without representation because of any possible repercussions?? 2.) In addition I do not know much regarding these laws and procedures, thus do not know where to start on getting the judgment "vacated". 3.) and then, although if/I can vacate the judgment, assuming if the collection is valid and debts mine, isnt the settlement amount of $900 out of $7000 good to get over with rather than let escalate?? 4.) and you advised contacting the agency, if I do what shall I assume of their "subpoena of record letter" and again, why are they asking for records regarding an active good standing unrelated credit card acct?


    Thanks so much, and apologies I'm just so confused and baffled at everything..
     
  13. army judge

    army judge Super Moderator

    Messages:
    35,139
    Likes Received:
    6,120
    Trophy Points:
    113

    Many of these agencies do just what is happening to you.
    You see a judgment.
    You dispute it.
    The judgment was never valid, but a ruse to smoke you out.
    Once you come out, here comes the owner of the paper, ready to take you down.
    The current owner of the paper, was not the original creditor.
    The current owner of the paper is 3 or 4 removed.
    My advice to client's is let sleeping dogs lie.
    These people are predators, bottom feeders.
    They are best avoided, if you want to live in peace.
    Besides, why seek MORE credit?
    This is an endless trap.
    Avoid it and the ones that set it!
    Even if you pay the debt off, THEY still count it against you.
    Then, instead of taking it off your report; they keep it on another DECADE!
    You'll never win IF you play that game!
     
    Last edited: Jan 27, 2010
  14. equinox308

    equinox308 Law Topic Starter New Member

    Messages:
    10
    Likes Received:
    0
    Trophy Points:
    0
    Thank you as well and great points, Army Judge:

    -My concerns are that if the judgment is not valid, why not get it removed off my credit record?
    -On let sleeping dogs lie, I can ignore this however my concern is what if they try to hold my wages, bank accounts, etc? And then most of all, what about this "SUBPOENA of Records" they are giving me a deadline of Feb 22 to respond by, again, it is regarding payment records for a current good standing credit card that is unrelated...So I do not know how they would be able to justify doing this, and what my ramnifications would be if I ignored the letter..
    --Overall I am working towards making my credit better and want to eventually settle all my credit card debts which are in collections..(just all these recent discoveries pertaining to the judgment I discovered with the credit report and the subpoena, that's the baffling part to one who is oblivious regarding these matters like myself)
     
  15. mightymoose

    mightymoose Moderator

    Messages:
    11,478
    Likes Received:
    2,026
    Trophy Points:
    113

    DO NOT give them any of your banking/financial information. If anything, just a letter disputing the validity of the debt.
    Don't provide any bak/asset info unless ordered to by a court.
     
  16. equinox308

    equinox308 Law Topic Starter New Member

    Messages:
    10
    Likes Received:
    0
    Trophy Points:
    0

    So should I ignore the subpoena, "Deposition Subpoena for Production of Business Records" that has a due date to respond by of 2/22/10? Again it is asking for records regarding a "current" good standing credit card I have which has nothing to do with the judgment which may be wrong since both served addresses with totally way off. Attached with the subpoena is another form where I can indicate why I am refusing to comply to the subpoena, "Notice to Consumer or Employee and Objection"-don't respond to this as well?
     

Share This Page

Thread Status:
Not open for further replies.