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I have a scenario here in California that I really need some help with.
I had a judgment from 2001, which I just paid in full and went to the court to file the satisfaction of judgment. While I was there I find that I have ANOTHER judgment that I was completely unaware of!!! I'm in the process of cleaning up my credit, and right smack dab in the middle of buying a house. My mortgage approval was conditional that I pay off the first judgment as it showed up on my credit report. Needless to say, I was dumbfounded when I found out yesterday that I had a judgment from 2005 which I never knew about. I had moved a little over a year before they supposedly served me with the court papers, and on the paperwork it says that they served me by substitute method of mailing to my old address?!?!?!?! I hadn't lived there in over a year and I had put in a change of address, but I think that they expire after a year...? Either way, I don't know who this person is that's suing me - It's an attorney listed for Melville Acquistition Co....Never have heard of them, so I'm assuming that they must have bought a debt of mine from years ago.
My questions are as follows:
1) Do I have any recourse other than to pay them now? The judgment was filed 05/2005 and because it was never reported to the credit reporting agencies, I never knew about it.
2) If I have to pay it, what are the chances that they will accept a lesser amount?
3) Should I contact my mortgage lender and let them know what I found and notify them that I'm in the process of trying to resolve this?
I'm SO afraid that this is going to hurt my chances of buying a house. I've worked for several years trying to clean up my credit after some poor choices and a divorce that nearly sent me bankrupt.
My escrow is supposed to close July 31st and I want to make sure that nothing stands in the way!!!
Just when you think that you've finally gotten things straightened out, something comes crawling out of the woodwork. It really is depressing.
Either way, I don't know who this person is that's suing me - It's an attorney listed for Melville Acquistition Co....Never have heard of them, so I'm assuming that they must have bought a debt of mine from years ago.
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That's the most important part of your scenario. You don't recognize the debt, or the creditor. Find out why it's on your credit history. Find out who they are, and find out what they say the debt is for. Make sure it's actually a debt you incurred. If it's not, you certainly don't want to be dealing with it, other than to have it removed from your report. If it is your debt, then you can figure out the rest.
Mortgage lender as in mortgage broker? If you are working with a mortgage broker then ask them how you should handle it. If it's not showing on your credit report disturbing it might make it appear. IMO, the mortgage broker is the one you should speak to about it...they should know how to handle it. July? That's an awfully long closing period.
Hmm. Then I wouldn't bring it up and check things out on your own. You could probably call a mortgage broker and explain the situation and ask them how to proceed. Like I said, if it's not showing, and you stir the pot, it could start showing and cause you difficulty. Even sometimes paying it off can reduce your score so I would speak with someone who specializes in that. Did you post your question in the mortgage section?
Shouldn't you first find out which company you still own money and the amount? You probable knew that there was an outstanding amount or didn't you?
I have find out in the past on my credit report that I owned an small amout $ 30.- to Sam's Club which wasn't paid and with all kind of fees it became $ 120.-. I had moved and changed my address at the Sam's Club counter but Sam's Club forgot to forward it to their credi card company and they had been sending bills to my old address. Which was strange becasue I had forwarded mail address. Sam's Club agreed to the misstake and paid me the whole amount incl. the fees. The credit report stated later that it was paid off but it was still showing. I cancelled the card and hardly ever used it before. Good Luck hope you get it solved quickly. Mine took many calls and letters, even for this ridiculous small amout for filling up one gas tank years ago.
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