Judgments are also called default judgments or credit card judgments. These terms all have the same meaning.
A judgment means you have been found legally responsible for a debt. This finding has happened 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 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 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 judgments are more often verified, this is because the lender has taken steps to ensure repayment. This usually means you will not be able to remove the mark.
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 recommend a credit attorney. They will be able to use their expert knowledge and when necessary go to court to prove that the judgment is not right and should be removed.
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.
A judgment means you have been found legally responsible for a debt. This finding has happened 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 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 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 judgments are more often verified, this is because the lender has taken steps to ensure repayment. This usually means you will not be able to remove the mark.
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 recommend a credit attorney. They will be able to use their expert knowledge and when necessary go to court to prove that the judgment is not right and should be removed.
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 for a free credit repair letter or for more information on how you can dispute equifax or dispute experian visit us.
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