Judgments - How You Can Remove from Your Credit Report
Judgments are also called default judgments or credit card judgments. These terms all have the same meaning.
You are legally responsible to pay back a debt. This has happened in a court of law.
The creditor has sued you and won their case. This gives the creditor legal grounds to have your wages garnished to pay back the debt.
This is a very bad mark to have on your credit and will cause your credit score to be lowered. Often collection agencies will try and win a judgment. Judgments can happen with any form of unsecured debt.
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 suggest the first step you take is to dispute the judgment. This is done by writing a dispute letter in which you explain why the judgment is inaccurate and then you mail this letter to each credit bureau.
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 such a severe mark that it doesn't have as good of chances of being removed. This often means you are stuck with the listing.
However in some cases a judgment is not correct. Thus the mark should be removed and you should not be responsible.
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.
Credit attorneys do not have to be paid thousands of dollars. You can actually hire them at a reasonable rate. A very popular credit repair service Lexington Law has over 20 attorneys and can be hired for as little as $39 a month.
You are legally responsible to pay back a debt. This has happened in a court of law.
The creditor has sued you and won their case. This gives the creditor legal grounds to have your wages garnished to pay back the debt.
This is a very bad mark to have on your credit and will cause your credit score to be lowered. Often collection agencies will try and win a judgment. Judgments can happen with any form of unsecured debt.
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 suggest the first step you take is to dispute the judgment. This is done by writing a dispute letter in which you explain why the judgment is inaccurate and then you mail this letter to each credit bureau.
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 such a severe mark that it doesn't have as good of chances of being removed. This often means you are stuck with the listing.
However in some cases a judgment is not correct. Thus the mark should be removed and you should not be responsible.
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.
Credit attorneys do not have to be paid thousands of dollars. You can actually hire them at a reasonable rate. A very popular credit repair service Lexington Law has over 20 attorneys and can be hired for as little as $39 a month.
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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
12:14 PM
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