My question involves collection proceedings in the State of: Illinois
I hope someone can give me some direction because I'm lost. I had a credit card before I was 18 which I was really responsible with for many years. After many years my credit limit actually went up to ~25,000 because I had great credit and was paying it off all the time.
Well in dec 2008 I lost my job and I was off work for 18 months. In that time I racked up that credit card and after awhile couldn't pay for it. I thought for sure I would get a job so I had no worries about using it...but boy was I wrong.
It was about 2 years ago that I got the summons for a judgement on the case. I didn't go because I was embarassed and wasn't sure if I was going to go to jail (I was trying to get a job not go to jail!). I didn't feel like I would have much to offer than I don't have any money and I'm trying my best to make ends meet. I'm not sure if that was a mistake but it is what it is at this point.
I recently had to apply for a car loan since I was in a wreck a few weeks ago. Seeing as I've been working on paying off alot of my outstanding loans I figured my credit would be decent (not great) but it was terrible. They said it was because of the civil judgement. This judgement was showing in the amount of $5,200 which I think is pretty fair in comparison to what I owed. In reviewing my credit it said that this was a closed and done settlement as of Jan 1 2012.
I've been much more fortunate in the last year with finally getting a decent job and getting other debts paid off and I am just about ready to approach taking care of this one so I can get it off of my record. Can anyone let me know if this is even possible? Should I try and contact the bank and see if we can figure out some sort of plan to get this resolved? Is it even worth me putting effort into this or do I just need to deal with the fact that my credit is shot for the next 7 years? Any information on this situation would be really helpful because searching on google has not given me much information.
Thanks in advance for your time.