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Question
Hello. My husband and I are in the process of purchasing our house. We found a judgment from a credit card recorded in 2003 for around 2400. We were going to be paying that off at closing and called to find out the payoff and were told 3600. My husband and I barely have the closing funds and offered partial payoff to have removed and they are refusing. Can we do anything?? We did not even know of this judgment till his credit was run.
Dear Carrie,
Thank you for your question.
If your trying to negotiate a payoff with a debt collector or a plaintiff on a judgment. The last piece of information you want them to have is that you're purchasing a large ticketed item.
If your dealing with a debt collector or law office. Offer the payoff the day before the last day of the month. 99% are commissioned based, the last 2-3 days before the end of the month they are willing to accept a lower amount.
Best Regards
Eddie Saleh
Ontrack Financial Group llc
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