Ok here's the story 10 years ago I bought this POS used car and was charged 23% interest (I was new to credit with no experience or credit history and needed a car badly) and the car died after a few months and the warrenty was only 30 days. Anyway the finace company and I went back and forth until finally it went to a judgment, we went to court and they got a judgment against me. Well I never paid the judgment and they never came after me to collect. During this time I had major medical problems became permanently disabled. So cut to 5 years later I get a letter from them saying pay us or we will be forced to use other means to collect. So I called and I talked to the finance manager for the company and after 1 hour on the phone with him explaining the situation (No money, I collect SS disabilty, have a new son to support, and many medical problems) and him relating with me the same problems his mother faced (End Stage Renal Disease) He told not to worry the company will write off the amount as a loss and to take care of myself and stay strong.
Ok cut to 5 more years later, I have not heard nothing from the company in all this time, But I get letter handed to me from a lady at my door (basically serving me) and I open it and it's just a copy of a receipt that the company renewed the judgment at the court. No demand for the money just a copy of the money ($7.00) they paid to renew the judgment.
Now 6 months later I still have not heard nothing.
Well my life is better, a little money coming in, wife has a good job now and I have excellent credit even with the judgment I score at least 750+ on all 3 agencys. But in the 18 months it took my with to land her new job (holding out for a good paying, stable job) we used credit cards to survive, well I have been paying them off and getting out of debt. and will be out of debt within 8 months.
Well this is why I'm worried, I was reading on a site that they could garnish my wifes wages? or hold my federal tax refund? but I'm not sure they are even going to try that because I was told by the guy it would be written off, plus all these years have passed and they haven't done so yet. And I can't call the guy I forgot his name and lost the paperwork. And I don't want to open a can of worms and call the company.
I was planning to use the tax refund to help pay off my credit card bills. I was talking to loan officer and he told me if I want to buy a house in the future I will need to pay off the judgment which was originally $2,000 but is now (as of 6 months ago) $4,000 due to interest. Since they renewed it, it won't fall off my credit report. It will be on there for another 10 years. I plan to pay it off now since they renewed it, as I am forced to pay even though I was told it would be written off. But I am not ready to pay off for another 8-10 months.
So should I worry about this? do you think they will take my refund this year? (they haven't in 10 years) or garnish my wifes wages? (they haven't in 10 years). But like I said I am worried this year because the renewed it in 2003 but 6 months have passed and I've heard nothing. If they were not going to try to collect why renew?
Any opinions and advice is appreciated. I mean honestly the guy (manager) at the finance company told me not to worry about it, that it would be written off. That is why I never worried about paying it until now when I got that copy of the receipt (6 months ago) showing it has been renewed.
Ok cut to 5 more years later, I have not heard nothing from the company in all this time, But I get letter handed to me from a lady at my door (basically serving me) and I open it and it's just a copy of a receipt that the company renewed the judgment at the court. No demand for the money just a copy of the money ($7.00) they paid to renew the judgment.
Now 6 months later I still have not heard nothing.
Well my life is better, a little money coming in, wife has a good job now and I have excellent credit even with the judgment I score at least 750+ on all 3 agencys. But in the 18 months it took my with to land her new job (holding out for a good paying, stable job) we used credit cards to survive, well I have been paying them off and getting out of debt. and will be out of debt within 8 months.
Well this is why I'm worried, I was reading on a site that they could garnish my wifes wages? or hold my federal tax refund? but I'm not sure they are even going to try that because I was told by the guy it would be written off, plus all these years have passed and they haven't done so yet. And I can't call the guy I forgot his name and lost the paperwork. And I don't want to open a can of worms and call the company.
I was planning to use the tax refund to help pay off my credit card bills. I was talking to loan officer and he told me if I want to buy a house in the future I will need to pay off the judgment which was originally $2,000 but is now (as of 6 months ago) $4,000 due to interest. Since they renewed it, it won't fall off my credit report. It will be on there for another 10 years. I plan to pay it off now since they renewed it, as I am forced to pay even though I was told it would be written off. But I am not ready to pay off for another 8-10 months.
So should I worry about this? do you think they will take my refund this year? (they haven't in 10 years) or garnish my wifes wages? (they haven't in 10 years). But like I said I am worried this year because the renewed it in 2003 but 6 months have passed and I've heard nothing. If they were not going to try to collect why renew?
Any opinions and advice is appreciated. I mean honestly the guy (manager) at the finance company told me not to worry about it, that it would be written off. That is why I never worried about paying it until now when I got that copy of the receipt (6 months ago) showing it has been renewed.
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