Settling a Judgement on your Own
If you have a judgment against you, you may be thinking that the best way to settle a judgment on your own. Is it to contact the judgment creditor yourself? Maybe this way, you can put this all behind you. Unfortunately, it’s not the best way to go about this. Far from it, in fact.
Unfortunately, you are likely not an expert on settling judgments. That said, the people collecting your debt are. If you don’t approach this correctly, you could unknowingly let them take advantage of you. Here are just a few examples of things that could go wrong by doing this alone.
Verifying your balance
When settling a judgment, verifying that they’re giving you the right balance is essential. Without your knowledge, they could be incorporating fees and other expenses into the total amount owed. In addition to this, you would need to verify that any interest or legal fees added to your balance are calculated correctly.
Getting the cheapest settlement
Settling a judgment at a reduced amount could save you lots of money, but you have to know whether that’s a possibility in your case. Likely, the people collecting your debt won’t have a problem glossing over the potential for reducing the amount of money you owe or just not talking about it.
Getting your judgment released
After you’ve paid your debt off, you expect your judgment to get “released.” The only problem is that you may not know what is involved in this process. You’ll need to know how and when your judgment should be released. You’ll also need to understand your next steps if your judgment doesn’t get released within the expected timeframe.
To settle a judgment, it’s best to contact a professional to help you navigate the situation. Unfortunately, you can’t guarantee it will be done correctly by doing it yourself. In other words, things could go wrong, costing you more money. The Credit Care Company is here to help you navigate these situations. Don’t hesitate and contact us today!