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02-23-2017, 02:37 PM #1
- Join Date
- Aug 2014
- Location
- New York
- Posts
- 61
Judgment not showing on reports
I have a situation that I need help with. I've recently came across two merchants that each have judgements due to defaulting on previous advances. These judgments are from early 2016 but they are not showing up on any reports. We found out about them inadvertently by luck.
I also have a judgment against a merchant that I filed in NY and this too isn't showing up on any of the merchants reports several months after being filed.
What is everyone else doing to counter this issue? How are you guys making sure that your judgments show up on the various reporting agencies?
Thanks in advance.
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02-23-2017, 04:06 PM #2
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02-23-2017, 06:49 PM #3Karen37aGuest
You have to get a copy of the judgement and then report it yourself to the various reporting agencies.. One of them had a class action law suit filed against them and lost for allowing a 3rd party to report without verifying.
Lawyers sometimes handle this for people, you must get a control number , cfn ,then contact the agencies with verifiable data.
(or consult with someone who knows how to do it, let them walk you thru it.)
If you did this already sometimes it takes months to pop up. Call to verify glLast edited by Karen37a; 02-23-2017 at 07:00 PM.
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02-24-2017, 08:05 AM #4
- Join Date
- Jun 2014
- Posts
- 541
Why hasn't the MCA space as whole hasn't invested in the value proposition of the minimal compliance regime necessary to regularly report to the agencies? Other creditor originators, credit cards, etc, see the value in reporting. Why should it make similar sense for our industry?
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02-25-2017, 10:14 AM #5
- Join Date
- Aug 2014
- Location
- New York
- Posts
- 61
Judgment not showing on reports
Personal credit report. I've looked back at several past filed judgments over the last few days and it seems that a handful are not showing up even after 6 months.
Our judgements are filed in NY. In-house counsel has reached out to the reporting agencies but they responded that they would not accept anything from us to verify the judgement and report it.
Thoughts?
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02-27-2017, 06:11 PM #6Karen37aGuest
Mark,
I do know there are companies for a small fee ..$10 they will report the debt to the 3 credit bureaus. Debt collections will as well. I have not reported in a long time, I am not sure if they are going to do something different then your in house counsel though.
I also think how the judgement is written effects the placement of the debt on creditLast edited by Karen37a; 02-27-2017 at 06:21 PM.
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