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  1. #1
    Join Date
    Sep 2010
    Posts
    1

    Default Best Outcome for a Judgement

    My question involves judgment recovery in the State of: Oregon

    In April of 2004 my wife to be had a civil judgement filed against her from a credit card company, the judgement was @ $5000.
    We have not heard from the company in 6 and a half years. We have been working on improving our credit and believe the right thing to do is honor this debt since we can.
    I called the credit card company and they forwarded our call to a lawyer's firm where the told us that because of interest the debt was $9000. I told them I would be able to pay the debt of $5000 in full if they would remove the mark from my wife's credit report. They told me they were authorized to reduce the amount to $5500 but they could not remove the judgement from her report. I asked them if they could put me in contact with someone from the credit card company directly so I could work with them on a resolution. They told me there was no way I'd be able to work with them (the CC company) but I could try if I wanted to. So far everytime I try and get help from the CC Co. they direct me to the lawyer.
    My question : Is it in my best interest to pay the $5500 and have the judgement updated as paid/satisfied, or Should I pursue paying the amount of $5000 and having the judgement removed from her report?
    or is there another option that would be in my best interest?

    Thank you, I have learned alot reading this forum since I've found it.

  2. #2
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Best Outcome for a Judgement

    the statute of limitations on a judgement, in Oregon, is 10 years. There is a statutory rate of 4% over T-bill interest.

    You have no leverage to argue any forgiveness. Everything is based in statute. If they accept less than full amount to settle the debt, then great but they have no duty to remove the reporting of the judgement.

    If they don't want to play, well, they own the ball so it is up to them.


    If you do negotiate a payment for less than full, be sure you get that in writing and the courts record it as the judgment is satisfied.

  3. #3
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Best Outcome for a Judgement

    The judgment is a public record, not an entry resulting from a private report by the creditor that could be retracted. You would need to convince them to dismiss the judgment in return for payment - assuming their even authorized to agree to that by the judgment creditor and want to put in the required time.

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