Need Help with old Capital One Judgement

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Joined: Fri Jun 27, 2014 8:49 am
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Need Help with old Capital One Judgement

Postby kelsybelsy » Fri Jun 27, 2014 9:21 am


I'm new here but could really use some advice. Several years ago (while in college and irresponsible w credit) I had a capital one card that I mistakenly ignored, which turned into a judgment of $1067. The judgement was filed in January of 2008. My credit is reasonably good with scores of around 700. This is the only derogatory mark on my credit reports. I have no late or missed payments on anything else. I have been approved for and have opened other cc accounts as well as a few auto loans since the judgement was filed.

Now, I am looking to buy a new home and this has become an obstacle. The judgement is still unpaid, but is set to drop off my credit report in about 6 months. I am fully aware that in the state of CA (where it was filed) that there is a 10 year SOL on judgements. So even though it will be off my credit report soon, it will still show as unpaid in searches and need to be disclosed on my mortgage application. There is also a possibly that this could be renewed and continue to be a problem for me.

I'm so angry at myself that this is still on going and it continues to haunt me. Basically I need some advice on how to best handle this. Should I just contact capital one and pay it off? I certainly have the money to do so. Do I negotiate w them? I actually just don't know how to even go about doing this. I'm sure there has been interest tacked onto the judgement amount as well since this was filed nearly 7 years ago. Should I just leave it alone? And if I do chose to contact them and pay it off, what do I need to ask for to be sure that this is removed from my credit report?? Also, if I pay the judgement, will I re-acknowledge and have it stay on my report for another 7 years??

Please advise....

Also not certain if this matters, but I no longer live in CA. I live in NV now.

I want to go back in time and kick my 20 year old self in the butt! Haha

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Postby MemberSince99 » Fri Jun 27, 2014 1:57 pm

It should fall off after so many years regardless. When you say restart you mean on the statute, but since they already got a judgment on you that no longer applies and they would just have to renew once the judgment runs is what I've been told.

You should strive to never get a judgment. Since you have, it might be best to work with them. It should not affect how long it is on your credit as paying it does not restart the reporting of the collection.

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