Erasing A Credit Judgement Off Your Credit Score
If you are entered into the court room for a credit judgment you should know that this is just the determination by the court to see if you owe a debt to the creditor. If you do not attend the court hearing you may find that the judgment will be against you because of your absence and that you have a legal obligation to settle your debt.
This sounds serious but sometimes it is not. Your credit history can hold any unresolved credit judgment for up to 12 years if your creditor wants to renew it. Even if you win the credit judgment the report can stay on your credit report for up to seven years. This can lower your credit score for as many as 250 points.
There is procedural error and almost 80% of all credit judgments. If you find that there is a procedural error you may provide the court with grounds of the dispute and the judgment can be successfully removed from your credit report.
Make sure you get at least three copies of your credit report from at least three major credit bureaus. This will allow you to have enough data to confront any negative information that might be contained within these reports.
Make a careful note of the address and the amount you owe to the judgment creditor. Find out which data judgment was filed and the information which was recorded in it. The more data you have the better.
There is a statue of limitations in many states and you need to find out which state that case was filed and to see what statue limitation you deserve. If the statute of limitations has expired you have an excellent opportunity to dispute the claim.
Even though it may take some time to clear the judgment, disputing the judgment will still work in your advantage. The credit bureau has 30 days in which to verify your dispute and with that verification they can send a request to the court. The court system is back up with these kinds of disputes and if the dispute does not come back to the credit bureau, your claim is dismissed and the judgment is eradicated.
Even if you are not able to dispute the court successfully you still have other resources that you can use. You may contact with the judgment creditor directly and they will probably dismiss the judgment if you make some kind of payment towards them. If the judgment creditor except your proposal, your judgment is now void. If you decide to go this route, make sure that you have the judgment dismissal in writing. You will need this information to forward to the credit bureaus so they can change your credit history.
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