Quote:

we have a charged off cc on hubbys credit report that the law firm/collector just got a judgement on us by default..........they are willing to settle for a reduced amount but we dont have the cash on hand......obviously or we would have paid before this!

What you need to do first of all is to check to see if this really is a valid judgment or a void judgment.

That is done by going to your county courthouse and getting a copy of all the paperwork in the file and then checking it out to see if you can find any of the 23 common errors made by attorneys when filing motions for summary judgments and if you can find any of them file a motion to vacate void judgment. If you do not have the knowledge or experience to do that then you need to mail your a copy of what you get from the courthouse judgment(s) file(s)to:
CW
2309 S.W. 24th St.
Oklahoma City, Ok 73108
and I will check them out for you free of charge or obligation and give you my personal opinion of what might be wrong with them. I am not an attorney and so cannot charge you for giving you my personal opinion. It usually takes knowledge and experience to be able to spot the errors quickly and not make mistakes in judgment.

Quote:

now to refinance our mortgage we will end up with 1/2 pt higher rate because credit is damaged cuz of this......but we have a lot of equity so we can get cash back to pay the cc.

Don't do that! You have about a 95% chance that the judgment is void and maybe you can get it voided and get rid of the problem that way.
Quote:

It bugs the hell out of me to get a slightly higher rate and have to pay the points and closing costs to do this.....but i am afraid the law scum will put a lien on our home or garnish hubbys wages and we already live paycheck to paycheck.

Garnishment is a real and immediate threat for sure. They can do it at any time after judgment has been rendered by the court whether the judgment is void or not.

Quote:

I dont see how they can put the lien on our hard earned home for unsecured debt.....doesnt that make it secured?

They can do that.

Quote:

should we refinance......does it make sense to you? thanks for any input

No, not until you have tried to get the judgment voided. Let's see what we can do for you.

Click here for our website
Click here for our Blog
Click here for our message forum
 ICQ#244754923