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Re: Charge Offs/ Judgements and Collections

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Posted by Robert M ( on September 29, 2002 at 01:19:09:

In Reply to: Charge Offs/ Judgements and Collections posted by Craig on September 28, 2002 at 16:51:03:

The advice you got before was good ... just wait it out. The collection account that's due to come off in 2005 may be for something else or may not even be yours. If it is for the same account that was charged off then it must come off at the same time, I don't believe a charged off account can be brought up to date if even you pay it in full.

As for the judgement (seems like a small ammount to go to court over) if they made no attempt to collect it by now they probably won't, however I don't know if judgements are considered debts that can be legally sold to collection agencies and if they can, do the collection agencies retain the same rights that were awarded in the original judgement (i.e. is the judgement valid for them). Since the judgement is public record it would still be available after the CRA stops reporting it for anyone you wanted to get credit from if they new which county to look in (I doubt if they ever go that far though)but that wouldn't affect your actual credit score.

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