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  1. #1
    Join Date
    Jan 2012
    Posts
    1

    Default Judgement on Credit Report

    My question involves collection proceedings in the State of: Nebraska

    As with most college students, I fell into that "get free money with just a little credit card" "scam" that most companies run these days. I couldn't pay, got sued, had my wages garnished, then moved to a state where it's illegal to garnish wages. Never paid em again, never heard from them again, and so I "forgot" about it.

    Flash forward seven years later ... I'm smarter, married, and trying to buy a house. Of course, I can't get approved for a home loan with a judgement levied against me and showing on my credit report.

    As of my 2011 credit report, the actual debt was scheduled to come off the credit reports as of July 2011 or so. I haven't run my credit report this year to verify that, however the mortgage company is only showing the judgement, and not an open bad debt, on the report that they ran.

    However, the actual judgement won't come off until August of 2012.

    I've tried calling the original debtor; they said call the lawyer. The lawyer is part of a collection firm (that's all they do), and they said that the debt was "recalled" back to the debtor. Called the debtor back, and then they say that they "just sent it back to the lawyer." I called the lawyer, they said that it may take up to a week or so to show up in their system.

    I then called the original court, which was absolutely no help, and was simply told that NO MATTER WHAT, the judgement cannot come off early. I was told, "that's not the way it works."

    So now, I'm in a position where I can't even pay any outstanding debt because NOBODY has it!!!!

    My question is this: if I can find somebody to take my money for this debt, will anything take the judgement off early? I am unconcerned about the debt looking "satisfied," as it no longer is on my credit report. The lawyer said that if they receive the debt, and I pay the debt off, they will report the account to the court as "closed" or "satisfied."

    Will this be enough for me to get this loan? Will a "closed" or "satisfied" court case come off my credit report? Or should I just wait until August or so until it comes off, even though it's been only 7 years (that's when it states it will come off on the credit report I can), but everywhere else I hear that it stays on there for 10 years?

    Again, I'm only looking at the judgement information. If there is any way for me to get this removed from my credit report early, I would love to know and it would be greatly appreciated ...!

  2. #2
    Join Date
    Jan 2006
    Posts
    27,782

    Default Re: Judgement on Credit Report

    whoever is the judgment creditor is who is owed the money. All you have to do is look at who sued you. That is who you owe the money to.

    Will a "closed" or "satisfied" court case come off my credit report?
    eventually but not just because it was paid.

    Judgments have their own statute of limitations for reporting and collecting. It would appear a judgement in Nebraska is good for 5 years but renewable every 5 years. I would have to presume it was renewed at the 5 year mark which would mean it is good for a total of 10 years from the date of entry. It can be reported that long.

    whether a bank loans money when seeing the paid judgment or not is up to them. I suspect it will be a very "iffy" thing.

    As far as paying the judgment: you might call the court where the judgment was entered. Sometimes the courts have set things up to accept payment there.

  3. #3
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    14,713

    Default Re: Judgement on Credit Report

    When you pay the bill off, they should update your credit history to reflect the payment. The loan company should reconsider, once it shows paid off in your history.

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