Judgment Just Appeared on CR

[treehugger1]

I monitor my credit (just to see who is looking at what) on a weekly basis. Lo and behold, one of my two judgments just showed up on all three credit reports. with the 6 charge-offs and two collection accounts showing up, I have to wonder how any CA can give serious thought to my potential for "playing by their rules." While I am not particularly proud of my judgments, I am somehwat pleased that at least one finally showed up on my credit reports. In addition, for the past several months I have encouraged my original creditors to take a hard look at my credit reports. Why? They can see for themselves the approximately $140K in unsecured debt, the chargeoffs, the collection accounts, and now the judgment. I want them to take a cold, hard look at the seriousness of my situation. I really want them to see that I'm not "bullsh*ting anyone."

I have noticed that several creditors and CA's have pulled my credit reports in the last three months. I wonder if what they saw has led to the significant decrease in phone calls. Just thinking out loud.

TH

[treehugger1]

My CR scores fell from the 700+ range to 480 - 510. Collections now show, as does the judgment and many chargeoffs. While I take no pride in my financial situation (and, accept all fault) The current wage garnishment really changed my sense of things. I do make good money, but with the garnishment, nearly everyone must get in line. The remaining 75% of my takehome is mine to do with as I please. I am using a chunk of it to pay off other creditors and attempt to make the payments I agreed to through mediation in small claims.

I know that if I were to file for BK, the garnishments might be considered preferential payments. Hey, not my fault! Speak with the local magistrate.

I was a bit concerned about a invouluntary Bk being filed against me, but I recently checked with legal counsel, and the "involuntary BK" only applies to Chapters' 7 and 11. If someone wants to attempt to force me into a BK 7, I would gladly take it! But based on my income far exceeding the means test, I doubt the district trustee would even consider it. I would be curious to see what would happen if a group of creditors attempted an involuntary BK. I have NO (zero, nada, etc) assets that are not well-protected by state exemptions.

As I await other creditors to begin the decision of filing suit, I realize the judgments will only lead to garnishments that each creditor must wait in line for.

I have clearly laid out to national credit card companies what my current situation is; judgments, garnishments, etc. The callers know little about the legal system; creditor representatives and CA's. I'm perhaps at the point that you are BigBoy. Go ahead, sue me. Send a summons. Here's my address. I don't think they want to believe me. Well, if eventually some law firm gets ajudgment goes for a debot examination, they will clearly see all my cards. I have nothing to hide. I don't intend to hire an attorney to defend me in the worst of circumstances. I will only pay for an attorney to help file a BK 7, if such is the case in the future. I can "quit" my job and walk away at any time.

Good gawd, if only these folks would have listened to me two years ago, before screwing with my interest rates, etc.

I DON'T care about my credit score. In fact, I think in the next few years, credit will be available to those who can truly afford it. This won't mean some FICO score. It will mean the ability to come up with 20% down; housing and automobiles, and a history of paying similar rent/home payments and auto payments. My son has been paying rent at one and a half times what a house payment would be. He has 20% down for a $200k home. But, because he doesn't have a significant HISTORY of credit, he can't get a conventional loan. What a bunch of lunatics!

So, bring on the judgments, garnishments, and arbitration.

[AngelinaCatHub]

Bigboy2u

So, where have you been? Good advice to the OP and can't add, but you have been missed. 'Hub

[Overmylimit]

Maybe this explains a lot, I was wondering why they are coming after me with a fever but other people they just sell or charge it off. Come to find out they do pull your credit to see who else you owe, problem is most business lines of credit don't show on your personal credit report until you default on them. So I have all these banks thinking I have no bill other than my mortgages so maybe thats why they keep trying so much..