Help again...another question about debt and OLD judgement. What should I do?

I feel really stupid asking questions about debt and judgements, but what can I say? Most of the debt I have is from yrs ago, and now i'm getting on track. Actually, I was doing really good until OLD debts started popping up!

In 1999, I purchased a new car. The car was fully insured, and stolen a yr later. My deductible was $500, and I signed the paperwork from the finance company(without reading it)(big mistake!!!)stating that I would repay the remaining balance by paying $100 per month. Anyways, I paid $500 to them,and felt I was done. Then I began receiving bills for $600 more...this made me mad, and I wasn't paying.
Well, they got a judgement against me for the $600, since I didn't go to court, but I still didn't pay.(my last payment to them was on November 30,2000).
They couldn't get ahold of me anymore since I moved,so it went unpaid.
Problem now is it's 7yrs later, and now they threaten me. Since 7yrs passed, is it still valid or does the judgement disappear?
Help me!

Check your states law regarding the Statute of Limitations at this link
http://www.fair-debt-collection.com/SOL-...
If this debt is beyond the limitations then it has become time barred. Judgments can remain active for longer periods of time.
If it is time barred, then they cannot sue you again. They can however hound you as long as they do it in accordance with the FTC guidelines.
Court ordered judgments are considered far worse then regular debt and could prevent you from getting a mortgage until the order has been satisfied.

Judgements are usually valid based on the county law, not the criteria for credit bureau removal. Most counties, a judgement remains valid for 20 years. Call the clerk's office or check your state code on line.

Debt goes into ARREARS, after 7 years of your last payment in US>

You are NOT liable to repay this debt. They cannot hold a JUDGEMENT against you!

Your Credit Rating WILL be affected until it is satisfied!

Try settling for pennies on the dollars.

I would hire a lwyer for this one, you may need to declare bankrupcy to get those debts out of the way, unless you are willing to pay them down.

You still owe the money. Since so much time has passed I would offer them to settle in full and in writing for half. Do not give them a credit card or access to your checking account.

The laws regarding judgments vary from state to state. This is no longer a matter of an "unpaid debt". The creditor (the company you owe the money to) took the extra step of going to court and getting a judgment against you. In the state where I live, a judgment remains enforceable for ten years. At the end of that ten-year period, the creditor has the right to renew the judgment for an additional ten years (theoretically, the creditor could continue renewing it in 10-year increments after that as well). All the time the judgment is in effect, the amount you owe is increasing because it is accruing interest.

You should take steps to negotiate some type of settlement with the creditor and it would be best for you to have an attorney represent you. Once you have paid the settlement amount, make sure you get a written "satisfaction of judgment" so you will have proof that the judgment has been paid.

If you own real property (a home or land) now or in the future, this creditor can attach the judgment to your property in the form of a lien. If that happens, and you sell your property, the creditor will be paid out of the proceeds of the sale of your property.

hire a lawyer to investigate, they don't expect you to fight them back and only a lawyer will know if they filed improperly
and then sue them back. And if it is a Creditor who PURCHASED the debt, then have them prove to you
that you owe THEM the money. You didn't sign any legal
document, you didn't tell them to Purchase bad debt.
That's why you need a Consumer Law Laywer.

www.creditinfocenter.com