Judgments - How You Can Remove from Your Credit Report
A judgment, default judgment, and credit card judgment all mean the same thing.
You have been found to be legally responsible for a debt. This will happen in a court of law.
The lender went to court and filled a lawsuit against you and won their case. This will give the lender legal grounds to have your wages garnished to repay this debt.
This is a very severe mark to have on your credit report and will cause your credit score to go down dramatically. This can happen with any sort of unsecured debt; credit cards, automobiles, phone bills, etc.
This mark will remain on your credit file for 7 - 10 years. It depends upon what state the case was filled in and what the statutes of limitations are in that state. It is also common for lenders to seek a renewal judgment if the debt has not been repaid at the end of 7 or 10 years.
This can make it impossible to ever get out from under a judgment. However you can have a judgment removed from your credit, sometimes without having to pay the debt.
I recommend you first disputing the judgment with the credit bureaus. This is done by writing a dispute letter in which you explain why the listing is wrong and should be removed.
The bureaus will then hold an investigation. They will try and verify the debt and the amount of the debt with the lender or collection agency.
If the debt is inaccurate or is not verified then the bureaus must remove it from your credit. Frequently investigations result in a negative listing being removed.
However a judgment is a very bad mark and these marks are more likely to be verified. This typically means you are going to just have to live with the negative mark.
However in some circumstances a judgment is simply wrong. The mark should be removed from your credit report.
This is when I would suggest a credit repair law firm. They can use their knowledge and expertise and if necessary a court of law to prove that this judgment is not correct and not accurate.
Surprisingly you can hire a professional credit repair law firm for reasonable rates. A leader in the industry Lexington Law can be hired for less than $100/month (premier service).
You have been found to be legally responsible for a debt. This will happen in a court of law.
The lender went to court and filled a lawsuit against you and won their case. This will give the lender legal grounds to have your wages garnished to repay this debt.
This is a very severe mark to have on your credit report and will cause your credit score to go down dramatically. This can happen with any sort of unsecured debt; credit cards, automobiles, phone bills, etc.
This mark will remain on your credit file for 7 - 10 years. It depends upon what state the case was filled in and what the statutes of limitations are in that state. It is also common for lenders to seek a renewal judgment if the debt has not been repaid at the end of 7 or 10 years.
This can make it impossible to ever get out from under a judgment. However you can have a judgment removed from your credit, sometimes without having to pay the debt.
I recommend you first disputing the judgment with the credit bureaus. This is done by writing a dispute letter in which you explain why the listing is wrong and should be removed.
The bureaus will then hold an investigation. They will try and verify the debt and the amount of the debt with the lender or collection agency.
If the debt is inaccurate or is not verified then the bureaus must remove it from your credit. Frequently investigations result in a negative listing being removed.
However a judgment is a very bad mark and these marks are more likely to be verified. This typically means you are going to just have to live with the negative mark.
However in some circumstances a judgment is simply wrong. The mark should be removed from your credit report.
This is when I would suggest a credit repair law firm. They can use their knowledge and expertise and if necessary a court of law to prove that this judgment is not correct and not accurate.
Surprisingly you can hire a professional credit repair law firm for reasonable rates. A leader in the industry Lexington Law can be hired for less than $100/month (premier service).
About the Author:
To learn more about how to remove judgments or to find out 3 tips to choose the best credit repair service for you visit us, or for a free credit repair letter to dispute a judgment yourself.
posted by Debt Consolidation Loan at
12:20 PM
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