Removing a Judgment from Your Credit Report

Removing a Judgment from Your Credit Report

Having a judgment on your credit report can really harm your credit score. When deciding how to handle a judgment you have only three choices. The first choice being to pay the judgment in full and received a judgment satisfied status on your credit report. The other option you have when trying to remove a judgment from your credit report is to dispute the item with the credit bureaus. The other thing you can do to have the judgment removed is to go to your local court house and try to have it vacated. Removing a judgment from your credit report can be stressful. What is a civil judgment? A civil judgment is put against someone, a debtor, who has not paid money that was due to a creditor. Once the debt has not been paid, the collector of the debt can take that person to court and force the debtor, the person who owes the debt, to pay up. Once a judgment is filed, the creditor can put a lien against anything that the debtor may own such as real estate, wages, and any bank accounts. Once the creditor places a lien against a house the debtor will receive his money when the house gets sold. The judgment gets paid off before the property can be transferred to a new owner. Did you know that if a judgment is large enough, the debtor can foreclose on the property to get their money? With the assistance of the town sheriff, a creditor can have them take other items owned by the debtor who owns the money, and sell it at a public auction. Judgments that are not taken care of can tremendously damage your credit score. Once the debtor pays the debt off, the debtor can have the creditor report the judgment as satisfied with the credit bureaus. The debtor can try to negotiate with the creditor to see if the creditor will remove it from their credit report all together. You can try disputing the judgment directly with the credit bureaus. Sometimes getting the credit bureaus to remove a judgment from your credit report can be exhausting. They have 30 days to find out information about the judgment and if, in fact, the judgment is not yours then they will remove the judgment after 30 days. But if the credit bureaus continue to report that the judgment is yours then you will have to take the matter to court. If the judgment in question is not yours, then you can go to court to appeal the judgment. Make sure you bring any proof you may have to court. Once you win the case, the judgment will be vacated. A vacated judgment just means that the judgment has been canceled. After receiving papers from the courts stating that the judgment has been vacated, supply a copy of the vacated judgment to the credit bureaus and they will remove it from your credit report immediately. http://creditrepairiinformation.blogspot.com

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