Cindy’s Other Blog

If you have a default judgment it means that a lender has sued you in order to recover payment of an outstanding debt. It is a legal proceeding that gives a lender a large amount of time to collect on the debt.

This happens with larger unsecured debts. It will give the debt collector up to 20 years to collect payment. This is beyond the 7 year statue of limitations that applies to all other debts.

It has become common for debt collectors to renew their judgments against the debtor. This will give the debt collector another 20 years to try and recover payment on the debt.

Judgments will negatively impact your credit score. You should be informed that by paying a judgment it will not be removed from your credit history.

When you pay a judgment the listing will change to a satisfied judgment. This is still a negative mark and will hurt your credit score.

To remove a judgment from your credit report you should dispute the judgment. This means you are disputing the validity or accuracy of the judgment.

This is done directly with the credit bureaus. It is done by writing a credit repair letter to dispute the judgment.

When you dispute a judgment if it is not verified then it will be removed by the credit bureaus. It has been found that when negative listings are investigated they are often removed regardless of accuracy.

This happens because it costs the debt collectors money to verify a listing. Typically debt collectors do not want to spend money verifying listings.

However you will have trouble getting the credit bureaus to investigate the listing. This is because it costs the credit bureaus potential profits to investigate listings.

This is the reason why credit repair services are often hired to dispute listings on behalf on an individual.