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Fritz
Fritz, Attorney
Category: Bankruptcy Law
Satisfied Customers: 302
Experience:  Florida attorney with extensive experience in Chapter 7 and Chapter 13 consumer bankruptcy cases
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I have an agreed final judgement filed against me in Texas

Customer Question

I have an agreed final judgement filed against me in Texas in 2006. However, the plaintiff and debtor filed for bankruptcy in 2008 They were a debt collection agency. Is there a way to vacate this judgement? AND, How can i get this removed from my credit files? Thank you in dvance
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  Fritz replied 2 years ago.

Fritz :

Hi, I'd like to assist you with your bankruptcy questions this afternoon.

Fritz :

A Texas Judgment is valid for 10 years from the date the Judgment was entered and can be renewed for an additional 10 years.

Fritz :

Unfortunately, the fact that the debt collection agency which obtained an Agreed Final Judgment against you in 2006 subsequently filed for bankruptcy in 2008 does not affect the validity of the Final Judgment against you.

Fritz :

I'm speculating here, but it's most likely that the Judgments held by this debt collection agency were sold to third parties at some point during the bankruptcy proceeding.

Fritz :

So it's likely that a different debt collection agency would be attempting to collect on this debt now.

Fritz :

Unfortunately, there's no way to vacate the Judgment based on the fact that the Judgment Creditor filed for bankruptcy.

Fritz :

However, if you can find out what company purchased your Judgment out of the Bankruptcy, you might be able to negotiate a debt settlement with them.

Fritz :

It's very likely that they paid pennies on the dollar to acquire these Judgments, so they might be willing to listen to a reasonable settlement offer if you can afford to pay something.

Fritz :

Please let me know if you have any additional questions. Thanks.

Customer: replied 2 years ago.

Ok, understood. Now, would I be able to get this removed from my credit report?

Expert:  Fritz replied 2 years ago.

Unfortunately, no. Under the terms of the Fair Credit Reporting Act, or FCRA, you can usually only remove erroneous or inaccurate information from your credit report. Otherwise, negative information must remain on your report for at least seven years after the date upon which the negative event occurred (i.e. the date of the Judgment). Unfortunately, even if you pay the Judgment in full, it will still appear on your credit report for at least seven years.

I'm sorry I can't give you a more helpful answer, but it looks like the only solutions are to ignore the Judgment (note that in Texas, your wages cannot be garnished; however, your bank accounts could potentially be seized in execution of the Judgment), settle with the creditor, or file for bankruptcy.

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Fritz
Fritz
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Florida attorney with extensive experience in Chapter 7 and Chapter 13 consumer bankruptcy cases