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Very old judgement trying to settle Other Debt

Discussion in 'Other Debt, Collection, Garnishment' started by JessJ, Apr 21, 2016.

  1. JessJ

    JessJ Law Topic Starter Guest

    In the process of trying to buy a house we found that I have a very old judgement I was unaware of that has to be settled/satisfied before we can close!

    The judgement is from 2010 for $2001 from Cach LLC (a collection company that purchased the debt from the original creditor). After finding the judgement and contacting the collection company; they said it has been sitting dormant for years and they have to assign it to a lawyer. A couple days later it was assigned and I was connected to the lawyer's office. The lawyer or clerk I spoke with was, of course, pushy; "this is a judgement and therefore collectible and we have the right to fully collect it, etc." I offered to settle for half and was told that's not possible and not the way it works, (which I know is not true, I am aware that I may not have all the cards, but they didn't even know this existed until I tried to do something). I was then told he could get the $600 of accrued interest and just have to pay the original $2000 judgement amount, but only if I paid it RIGHT NOW and they take credit cards so I should just put it on another card and get rid of it.
    My husband proceeded to tell him that we needed some time and would attempt to get that together, but there's no way they shouldn't be able to work with us considering its been dormant so long and hung up on him. (This is a shortened version of the 30 minutes I spent on the phone with this person)

    I am trying to figure out what my next step should be and/or if obtaining an attorney would help as I'd much rather pay an attorney than these people!
  2. adjusterjack

    adjusterjack Super Moderator

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    They have absolutely no obligation to "work with you" nor reduce the debt by even a penny. And you have no leverage except for any willingness to pay cash now to settle the account.

    Judgments in Ohio are good for 21 years and stay on your credit report as long as they are enforceable. Meantime, they continue to accrue interest, costs, and attorney fees.

    That the interest will be waived is a gift. Get the settlement in writing and pay the $2000 ASAP if you can't get them to come down any further. Oh, you will need to get a "Satisfaction of Judgment" that you can file with the court if the creditor doesn't.

    Hiring a lawyer is a ridiculous idea because you will pay your lawyer hundreds per hour and every time your lawyer talks to the creditor's lawyer, the creditor's lawyer will add his time to your bill and you could end up adding thousands of dollars to this debt and not be able to buy your house for a long time to come.
  3. army judge

    army judge Super Moderator

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    If you decide to pay the $2,000, get the agreement in writing.
    Don't use a credit card to pay.
    People can and do get scammed that way.
    Pay by bank wire, bank draft, money order, or cashiers check.
    Plus, verify you're paying the CORRECT, as in LEGALLY authorized representative.
    That means you need to see the judgment.
    Buying aged debt doesn't necessarily mean you've bought the judgment.

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