Judgement Rolled of Files - Now What?

[oldtimer1]

Okay I had a large judgement (Filed 8-2-2007) that was due to roll off my reports this month and after checking my reports weekly, it's finally fell out of all three. The amount was listed at $14K and was my biggest derog. BTW - the original junk debt firm was bought out by another firm last year and I've been getting quarterly notices to pay/settle the account. The last notice had the balance at $23K with interest. BTW the original CO was for Providian and amount was 2K. Earlier in the year I had contacted a lawyer who deals in credit issues and BK in Texas reviewed the court papers and my credit files. I was ready to negotiate out of this mess but he said why if it's going to roll off in July? I agreed and decided to wait it out.

Questions: Anyone else have a judgment roll off? Did the scoundrels renew it and have it placed back on file? Am I at risk of a future appearance?

Please share and give feedback if you can.

[cashnocredit]

The risk of a judgment is not so much the reporting on the CRAs but the fact that collectors with a judgment have serious legal tools. They can bring you to a debtor's exam or garnish wages and attach assets though each state has different restrictions on their ability to mess with you. That large a judgment is not something to take lightly. Check your state laws to understand what they can do. If you re-establish credit that can attract them beyond just sending letters and will give them clues to what to go after.

Edited July 25, 2014 by cashnocredit

[shifter]

just because it's off your CR doesn't mean it's gone.

 

they still have the judgment for 10 years and can renew it for another 10 years.

 

of course, they may do nothing but keep sending you letters,

 

or they could proceed to garnish your wages or bank accounts.

[amandal0514]

You're in TX and this happened in TX? Don't think they can do much here with a judgement. Can't take your home or garnish your wages.

[cashnocredit]

You're in TX and this happened in TX? Don't think they can do much here with a judgement. Can't take your home or garnish your wages.

 

Yeah, I see OP is in TX. It's nearly impossible to enforce a judgment in TX. They can't garnish and most people don't own anything they can take.

[CG in TX]

About the only thing they cam do to you here is garnish your bank account(s) or, through a debtor's exam, possibly attach luxury items if you have any, like boats. Considering the time that has elapsed, I would expect that you are dealing with a default mill that gets judgments and does little to enforce them unless the consumer tries to buy or refinance a home. The judgment will go dormant at the 10 year mark, but it can be revived during the 2 year period after that.