Reader mail: resolving National Credit System judgment
I have a judgement reported to Experian from Nat’l CrSys. I’m thinking it is from you guys. If so, please tell me what this is about and how it can be resolved. Not much information on the credit report.
Thanks
It is so tempting to settle this judgment. Every few months somebody wants to pay me.
The major reason to volunteer to pay a judgment is because you are about to buy or sell real estate. You definitely do NOT want to have the title/escrow company pay them in full + interest.
I’ve settled judgments for as little as 10%, but it depends on who holds the judgment and how old the judgment is. The credit reports often don’t have much info, the recorded document does. And keep in mind that the tri-mergeds and myFICO reports purge most reported info.
IMPORTANT: Your credit rating will NOT improve by paying a judgment unless the judgment creditor agrees to VACATE the judgment.
You get NO FICO score points for paying collections (reported as such), liens and judgments.
Posted by Christine on 04/14/2009 at 11:12 PM
Credit - Collection - Economic News • Reader mail • (0) Comments • Permalink
