A judgment is also commonly referred to as a default judgment or credit card judgment. This is simply a variation of the same meaning.
You have been found to be legally responsible for a debt. This will happen 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 will cause you credit score to be negatively impacted, it is a very derogatory mark to have on your credit. Judgments can be sought after for any sort of unsecured debt, it is common for collection agencies to seek judgments.
This mark will stay on your credit for 7 - 10 years dependent upon the state that court was held in, and the statute of limitations in that state. However it is common for creditors to renew judgments.
This makes it possible to never be able remove a judgment. However with some savvy credit repair attorneys and a little luck you may be able to remove a judgment without paying it.
I would first suggest creating a dispute letter. In this letter you identify the judgment listing and explain the reason it is not accurate and mail it to the credit bureaus.
The bureaus will then conduct an investigation into the listing. They will try to verify that it is real and the amounts are accurate.
If the debt is not verified or found to be inaccurate then the bureau must remove the mark from your credit report. Often investigations result in a mark being erased.
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 the time when you should consider a credit attorney. They have an expert knowledge of credit laws and the ability to go to court if necessary to prove that the judgment is wrong and should be removed from your credit.
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. - 15224
You have been found to be legally responsible for a debt. This will happen 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 will cause you credit score to be negatively impacted, it is a very derogatory mark to have on your credit. Judgments can be sought after for any sort of unsecured debt, it is common for collection agencies to seek judgments.
This mark will stay on your credit for 7 - 10 years dependent upon the state that court was held in, and the statute of limitations in that state. However it is common for creditors to renew judgments.
This makes it possible to never be able remove a judgment. However with some savvy credit repair attorneys and a little luck you may be able to remove a judgment without paying it.
I would first suggest creating a dispute letter. In this letter you identify the judgment listing and explain the reason it is not accurate and mail it to the credit bureaus.
The bureaus will then conduct an investigation into the listing. They will try to verify that it is real and the amounts are accurate.
If the debt is not verified or found to be inaccurate then the bureau must remove the mark from your credit report. Often investigations result in a mark being erased.
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 the time when you should consider a credit attorney. They have an expert knowledge of credit laws and the ability to go to court if necessary to prove that the judgment is wrong and should be removed from your credit.
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. - 15224
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