My question involves personal finance in the State of: CA
About 6 years ago, I was involved in a suit, in which my E and O insurance company dropped the ball and didn't defend me. As a result, I was hit with a default judgement for $1,000,000. I got the insurance company to do their job and the judgement was set aside. I have the judge's order for it. The suit went ahead and was settled out of court. Problem is, a release of judgement was never filed nor recorded.
Now, a release of judgement has been filed and recorded and I am in the process of trying to fix my credit. I am sending a letter, drafted by my loan officer, that says the $1,000,000 judgement has now been "paid in full". My concern is that was not really the case and if I send something to the credit reporting agencies that says that, I may do further damage.
Should I be sending a letter just staing the judgement has been released?
What should I do?
Thanks to all who chime in.