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dminisee

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judgement question on credit report
So I want to buy a car and need to boost my credit so I went to a credit repair person. I have a judgement on my credit report from 2009 that they just put on my credit report in jan 2013. for 10,000 for a car accident. I have paid 5500 of that judgement and have a payment plan for the rest. My credit advisor told me today to stop paying and to go back to court reopen the case adn have the judge settle it. she said that they will settle it for less and since i have already paid half they will probably settle for that amout. But I dont know if anyone knows about that adn how it works? I live in Florida

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Caution, Caution!!

What kind of guarantees has this "credit repair person" made to you?  Was it in writing?  To tell you to stop paying and go back to court to get a settlement is foolish and might even get you in trouble with the court.   You might make the request of the court but keep paying until after the case is heard and a decision made.  Courts tend to get a bit upset when a directive (in this case, the judgement) is not being carried out as ordered, and they have the right to be upset since the judgement is a legal order.

How much did you pay this "credit repair" person?  Have they actually done a lot to repair your credit?  My guess is, they haven't.  Most can't do anything more than the individual who is in debt and many make stupid recommendations such as stopping payment, which causes more trouble than it solves.

FYI- The notation of the judgement will remain on your credit report for at least 7 years, possibly 10.  Any other credit accounts will also remain for 7 years.  This is required under the Fair Credit Reporting Act which is a federal requirement.  NO ONE can change that. 

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