I’m on the road to rebuilding my credit.
I had a collection agency sue me in 2009 (IIRC) and consequently had a judgment placed against me on public record, and of course, on my credit report. I’m not willing to wait and see if they will revive the judgment before 10 years; if they do, that ‘s 10 more years of a negative hit on my credit report. I’d rather settle the judgment although I know the negative mark will remain on my credit report in some form or fashion.
1. How likely is it to get the judgment removed from public record? (From what I’ve researched, not likely, but maybe others experienced otherwise.)
2. If I contact the collection agency to settle the debt for the original amount (not the original amount plus accrued interest), and the collection agency does not wish to settle for the original amount alone, is it possible that the “debt clock” could be reset because I contacted them to settle the debt?
3. Is it possible for me to contact the collection agency and attempt to settle the debt all while never admitting that the debt is mine, in order to avoid any potential to reset the debt clock?
Any advice before I contact the collection agency? I will likely do so soon.
Thank you for your time.