Credit Cards, Rating, Repair Trying to clean up a judgement

[Frustrated007]

I have a judgement against me from a credit card from college. At one point they were willing to settle and gave a counter offer to the offer i put up. I did not have that much and they advised on saving more and calling back. I recently called back with more to offer and now they will not negotiate, or at least not that call representative. My credit report claims that the judgment will be off my record in sept of this year. I don't know if i should still try to negotiate with them, or just wait for it to be off my record? And what are the chances they renew the judgement before the statute of limitations? i think i should talk to a lawyer but do not want to get stuck paying someone for something they may not even be able to help me with. Please Help

 

[army judge]

I have a judgement against me from a credit card from college. At one point they were willing to settle and gave a counter offer to the offer i put up. I did not have that much and they advised on saving more and calling back. I recently called back with more to offer and now they will not negotiate, or at least not that call representative. My credit report claims that the judgment will be off my record in sept of this year. I don't know if i should still try to negotiate with them, or just wait for it to be off my record? And what are the chances they renew the judgement before the statute of limitations? i think i should talk to a lawyer but do not want to get stuck paying someone for something they may not even be able to help me with. Please Help

You've asked and answered your own concerns.

If I were you, I'd leave it alone.

Even when you pay the collector, it never reaches the original creditor.

The collector is a scavenger who buys BAD DEBT for two to ten cents on the dollar, sometimes less.

Let's say Joe owed $500.
The debt went bad, and Old Joe never paid.
The creditor knows the debt will never be collected, so they sell the paper to Cutthroat Collections for $50.
The creditor also gets a sweet tax write off, and the fifty bucks.

Cutthroat Collections buys thousands of dollars of bad debt, and tries to get suckers to pay.
CC approaches Old Joe and suggests he pay $250 to settle the debt.
OJ pays, CC walks away with a tidy $200 profit.

Or, OJ never paid, but CC makes up their losing bet on other suckers.

You make the call what you do, but whatever you do will barely impact your credit TRAP.
That's the scam they call credit in these here United States.

 

[Frustrated007]

Its not a creditor or credit card company, Its actually a law firm at this point. Its far enough along that this is not affecting my credit score anymore. Its been so long i've had time to rebuild that from the bottom up. I completely understand what your saying about the companies buying the debt and i wanna say at this point its the second company. I would just wait to see if this is off my record in sept. but it may hinder my chances at jobs I'm trying to get. They won't negotiate cause from what i understand the call representatives make a commission off of whatever they collect. I also dont know if they'll let this go in sept or renew or if they're even able to so that this is there for another ten years ?? and will an attorney even be able to help ?

 

[army judge]

Its not a creditor or credit card company, Its actually a law firm at this point. Its far enough along that this is not affecting my credit score anymore. Its been so long i've had time to rebuild that from the bottom up. I completely understand what your saying about the companies buying the debt and i wanna say at this point its the second company. I would just wait to see if this is off my record in sept. but it may hinder my chances at jobs I'm trying to get. They won't negotiate cause from what i understand the call representatives make a commission off of whatever they collect. I also dont know if they'll let this go in sept or renew or if they're even able to so that this is there for another ten years ?? and will an attorney even be able to help ?

Even if it were to age off, it doesn't disappear.

All you can do is continue to keep your current debts paid on time.

One more scandalous revelation, my friend: Even if you paid them EVERY dollar they demand, your credit record would remain stained.
They win by ruining others. It never gets better, once they get you behind that eight ball, pal.

The best thing you can do is avoid debts.

One of AJ's little life tidbits: You make one little mistake, and that's all they'll remember. Second chances are somewhat mythical creatures, beautful like unicorns, but ever so elusive.