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Judgments do not always show up on credit reports. The way it sometimes goes is, if you check your credit report once a year, they may not be there; and then, when you attempt to rent anything, try to get credit card or a loan, judgments magically appear and stubbornly persist. My articles are my opinions and are not, legal advice. I'm a judgment broker, and not an attorney. When you ever need a strategy to use or legal advice, please retain a lawyer. Anybody may sue anyone else for any real or imagined reason. When somebody serves a lawsuit on you, that doesn't end up on your credit report, unless the creditor later win a judgment against you. Credit reporting agencies most often and eventually find your judgment, especially after judgment liens are recorded. It takes a while for your judgment to appear on credit reports. If you satisfy your judgment fast, it may not ever appear on credit reports. Disputing valid judgments won't do anything, because it's simple for the creditor to verify the debt. When you ignore judgments, they will probably stay on your credit report for seven to ten years, and possibly longer if your judgment is renewed and additional liens get recorded in the future. A judgment will usually appear on the public records section on credit reports. On a credit report, unsatisfied judgments are usually more damaging than most other collection accounts, although will not hurt your score as much as a bankruptcy. Different than regular debts, judgments might get enforced through garnishment, can be used to lien your current or future real estate, and judgments can be renewed. A judgment will show up on credit reports long after you satisfy them. However, a satisfied judgment looks a lot better on your credit report than one that is unpaid. If the judgment you owe has been satisfied or voided, or an incorrect owed amount shows on your credit report; you can fill out and return a debt dispute form to each of the credit bureaus. When the judgment on your credit report is valid, consider negotiating with the judgment creditor. One may be able to negotiate a payment to satisfy your judgment for just part of the total amount owed, potentially negotiating a payment plan with your creditor. Make certain you get any settlements made with the creditor in writing, in case they become required later. After paying your creditor the amount was agreed on, they is required to satisfy your judgment at your court and send you a copy of the satisfaction. Even if your creditor doesn't mail you a copy of the properly judgment satisfaction, one could buy a copy of the satisfaction from your court. When you get a court-stamped judgment satisfaction copy, you can send a copy of the satisfaction to the credit bureaus. An unjust feature with the credit reporting system is the "dates of last activity", which is a big part of credit scoring calculations. Debts and other issues older than two years, become much less score reducing as newer things. That means a recently satisfied judgment will be considered an updated item, as its status will show as have been paid. That payment update may temporarily lower your credit rating, compared to an (e.g., six year old) unpaid judgment. After two years, if nothing else changes, your credit score will go up again, and probably will go up again, as your previously unpaid judgment will have been satisfied for two years. One stop shopping judgment recovery: http://www.JudgmentBuy.com - Judgment Enforcement. Your easy, free, best and fastest way to start getting some money back from enforceable judgments. (Mark D. Shapiro 408-840-4610) Free, no obligation judgment evaluations.
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