Judgments - How You Can Remove from Your Credit Report

By John Cooper

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.

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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.

Budget to Retire

By Basdeo Paul

Nobody wants to work in their seventies and yet most people only have ten to twenty thousand in their retirement fund at 50. How long could you live off of 20 thousand dollars? One year? Maybe two with social security but that is just no way to retire. You must save money now in order to enjoy your golden years.

When do you plan on retiring? Most people want to retire by 65. That means that your retirement fund will need to last you 20 to 25 years. That is a long period of time to save for so it takes real work to calculate how much you will need and how to get that much money.

In order to save efficiently you really need a goal in mind when you start. For a worry free retirement many people need to have about half a million dollars in the bank. Instead of randomly picking a large number like this you can be more accurate by creating a budget for your retirement years. Figure up how much you need for rent, bills and other expenses for each year. Then multiply that by 20 or 25 to come up with your savings goal.

After creating a savings goal you might feel it is hopeless. You can never save that much money. Well, with a good budget now you will be surprised how much money you really have. You can do simple things like cutting out coffee shop visits and trips to the drive thru. The average person can save several thousand a year by eliminating those two things alone. You can also become a bargain shopper and clip coupons to save extra money. By creating a strict budget for yourself now you will be able to enjoy life after work.

Once you know how much you need and how much you can afford to save you can try to make the two numbers add up by finding some safe investments for your money. A mutual fund or a high interest savings account will help your money multiply on its own. All of this budgeting and calculating can get pretty confusing. If you need help with this or other financial issues you can use an online financial calculator. There are many to choose from that are easy to use at www.personalfinanceissues.com .

Life is meant to be lived. Save your money now so that you can enjoy the end of your life without working or worrying about money. You can do it. No matter what you are making with the right budget and plenty of discipline you will be able to retire on time and enjoy the rest of your life.

About the Author:

Basdeo Paul is an entrepreneur and the owner of the website http://personalfinanceissues.com. More than 35 financial calculators are offered to solve the financial issues like simple budgeting, debt consolidation, retirement savings, etc. Log on to the site to get more info...