Will settling a deficiency judgment reage charge-off?

[memin]

Hi,

 

I had a repossession in 2007 that is going to drop from my CR on January 2015. I did nothing when the CU sued me and there was a judgment against me in May, 2008. The judgment is no longer in my CR but the interest is still accumulating. I am saving and plan to negotiate a settlement sometime during 2014 or after the CO is deleted. I live in Texas and the attorneys could renew the judgment after 10 years, so paying is not an option. I have some questions:

 

1) If I pay a settlement before the item is deleted, could the account be reaged? If so, will the negative information damage my credit for 7 more years?

 

2) If I pay the settlement after the item is deleted, could the CO reappear?

 

3) Who do I talk to, the attorneys or the CU?

 

Thank you, any help will be appreciated!

[Sandscrit]

if you pay the judgment it would be marked as satisfied until it falls off your credit report.

[memin]

The judgment is no longer in the CR. It's the charge off that it's still there.

[memin]

Bump!

[memin]

Bumping one last time. Not sure what to do here.

[Sandscrit]

Bumping one last time. Not sure what to do here.

Why not pay the judgment now and then dispute it a few months later...it might come off your reports.

[cashnocredit]

No. It won't change the OC's chargeoff dropoff date.

[memin]

That's a relief! I will pay for this ASAP, I'm tired of the interest accumulating.. Thanks for your help!