Thinking of settling with Chase

[fltoo]

To date, Chase is the only one that has a judgment against me. All others have been charged off and no one ever calls me anymore except Chase.

I am thinking of settling with Chase before I file Chapter 7 in four months. This would fall within the pref payment time period and I would like to not have the judgment on my public record, just the BK. I would like the judgment noted as paid on public record.

Making any sense or am I missing something?

[AngelinaCat]

Hi fltoo: How much is the judgment? Actually, if you go ahead and file BK, the judgment will be wiped out. I am not sure what if anything besides the BK will appear on the public record.

Because of the preferential thing, I would be careful about trying to pay this off. Do you have an attorney? If so this is a good question to ask him /her.

Good luck.

[13bound]

i'm in a 13.............

To date, Chase is the only one that has a judgment against me. All others have been charged off and no one ever calls me anymore except Chase.

I am thinking of settling with Chase before I file Chapter 7 in four months. This would fall within the pref payment time period and I would like to not have the judgment on my public record, just the BK. I would like the judgment noted as paid on public record.

Making any sense or am I missing something?

if you are gonna file, then why settle with anybody? $$$ wasted. your credit report is gonna be shot anyway.

[fltoo]

I don't care about my credit report, only public record. Lawsuits show up on public records.

Angie, as I said, it is within the pref payment time period.

[JRScott]

I wouldn't worry about it that much.

If it would be a preferential payment you would still need to list them in the bk in case the Trustee goes after them since you would still owe them in that case.

[keepmine]

Talk to your lawyer about getting the judgment vacted post bk.
Paying the judgment won't make it go away. It'll just read satisfied. You really are wasting money by paying it.

[13bound]

please educate me................

I don't care about my credit report, only public record. Lawsuits show up on public records.

i don't have a clue............... why would it matter?

[epiphany]

I have a judgment from HBSC. I plan on having that vacated after discharge.

Fresh Like A Daisy posted some great information on how to go about this a while back. I know I saved that thread but can't find it right now.

ep

[fltoo]

i don't have a clue............... why would it matter?

Without going into details, in my world, it matters.

Thanks EP, will try to find that thread.

[shakeshak]

Bankruptcy shows up on public record too. and the judgement can be removed.I think the debt from chase would have to be listed as IIB and your attorney could have the judgement removed. (provided the debt is discharged when you file)

[ThreadsSnapping]

If they already have a judgement then it is already a matter of public record. It became a public record when they filed the suit against you.

If they haven't actually sued you and it is that important that you don't have that as a public record and you can settle with them, your only option would be to delay your bk filing so not to have it become a preferential payment. Or file as scheduled and let the trustee go after them.

TS

[PoorGrammyinBK7]

Wouldn't you be better off to just include the judgment in your BK and then have it vacated? Even if it costs a few hundred $ to have it vacated, probably cheaper than paying off the judgment. Plus, why risk the possibility of having it challenged as a preferential payment? We paid off some credit cards and certainly thought we had time to wait. But it turned out we didn't and these turned into pref. payments.

[fltoo]

You are all right. Sometimes I just start overthinking. I will just file and have it vacated.

[No Gravy]

You are all right. Sometimes I just start overthinking. I will just file and have it vacated.

From all I've read about preferential payments, the risk lies with the creditor, not the debtor. there's nothing wrong with you making a payment, but for the creditor it's likely that the trustee will go after it.

That said, I agree with what you've said here. Just file. I don't know how much it would be to settle, but it must be a sizable sum if Chase is willing to sue over it. Better to spend even part of that afterwards having it vacated.

Good luck!

[fltoo]

You would think it was a large amount, I know, but it is only 7000. My others are double that.