Reached an Agreement to Settle my Judgment, what next?

[GR8WhiTE]

It's been a very long time that I've been fighting this judgment. Finally I have reached an agreement with CACH LLC. I need to get this off my back because there is a 9% interest added to my judgment each year and there is a SOL of 20 years...all courtesy of Illinois. It's been 7 years and my original judgment has nearly doubled. If I do not pay this now, I'll probably owe $50k by 2030.

 

Regardless..

 

There has been an agreement reached. I just need to know what to put in writing on my check in order to protect myself and what else I should expect for them to do once CACH receives their payment from me.

[hegemony]

this is a written agreement? will there be a remainder that might be sold? will you be 1099ed for any remainder?

 

I would not pay by check to a scumbag. get a MO or cashier's check.

[GR8WhiTE]

Yes I have a written agreement. Not sure how to attach the letter through pm.

 

It's written that this will be considered as a settlement in full. Good point...I have to ask if I will be 1099ed.

 

It hasn't been on any of my credit files for 2 and a half years now.

 

I just need to take care of this so I can pick up a property without the worry of these scumbags coming out the woodworks.

[GR8WhiTE]

Also, what is the security of going with a certified check?

[cv91915]

Also, what is the security of going with a certified check?

 

A personal check has your checking account number on it.

[GR8WhiTE]

 

Also, what is the security of going with a certified check?

 

A personal check has your checking account number on it.

 

Gotcha

[shifter]

Yeah definitely go to the bank and get a certified check.

[GR8WhiTE]

Yeah definitely go to the bank and get a certified check.

Definitely will shifter...

 

I will be taking care of this crap first thing in the morning.

 

Time to cut this judgment loose.

[ICANHASMUNY?]

does it mention any time frame on when the satisfaction of judgment will be filed in court ?

 

 

ya need that to be done in 30 days time , which is reasonable.

[GR8WhiTE]

Hey ICAN....

 

They told me that they would report it to the court within 15 days but I would get a response from the CRA's in 30-45 days. I'll pm you the letter.

[GR8WhiTE]

The one thing I am a little concerned about is that this judgment has not reported on my credit for a few years because I had gotten it deleted.

 

Once they receive payment, is this just going to reappear on my credit reports? If it does, will it be easy to get rid of it since it is over 7 years old now?

 

I personally just want a letter from the court that says, "this judgment has been satisfied"....

 

and hope nothing reports.

[ICANHASMUNY?]

if it's past 7 years it shouldn't show up again.

[GR8WhiTE]

if it's past 7 years it shouldn't show up again.

Great!