CREDITWRENCH
Creditwrench teaches the secrets of the debt collection industry and how to defeat their abusive practices without lawyers. We know how to win!
Friday, August 10, 2007
Texas Judgment advice
Quote:
Originally Posted by mburris
the original judgment is from citibank for a credit card and it was filed on 10/2003, it is for about $8000. I have recently had it verified and it came back verified. At this point this is the last really big hickey on my report and would like to get rid of it somehow.

I am wondering if i should just wait it out, i am not sure what the SOL is in Texas. Or if i should try and settle it for a lower amount. mburris
No use to worry about the SOL for collection of judgments in Texas is. That has no bearing on the SOL for reporting which is 7 years 6 months. So that means that the judgment won't fall off until about 2010. About 3 years from now. And then it won't make any difference whether it is paid or not.

In Texas the law on judgments is not a pretty one to contemplate. Judgment in Texas lasts for 10 years after which time it can be renewed if that is done within 2 years after it went dormant. After 12 years then it cannot be revived.

So while you could file motion to vacate the void judgment that would not be a good idea at all because if they are doing nothing to collect it right now is to kick the sleeping dog and have him jump up and bite you. So the best course of action would seem to be to let him sleep peacefully and do nothing that would wake him up.
Written at 3:01 PM by Creditwrench.