2006-08-22 14:37:49 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I assume you mean removed from your credit report. There is no way to just have the judgement removed, unless it was the result of identity theft or some other fraudulent activity that you had no control over. The good news is that after ten years, bad things have to be removed from the credit report. So it should be gone soon. Until then, just explain to whoever is viewing the report what the circumstances were and be honest. That's the best way to go about that.
2006-08-22 14:42:05 · answer #1 · answered by theeconomicsguy 5 · 0⤊ 0⤋
Depends on how it was filed, but the judgment itself is valid a minimum of 5 years once it is awarded. The length of time a judgment may show on your credit report is established by the Fair Credit Reporting Act, a federal law.
"FCRA 15 USC 1681c, Sec. 605, reads:
(a) Information excluded from consumer reports...(2) civil judgments...that from date of entry, antedate the report by more than seven years or until the governing statute of limitations has expired, whichever is the longer period."
Certain states allow a judgment to be renewed. In Florida, a judgment is valid for 20 years, but must be re-recorded after the first 10 years. The re-recording could possibly trigger the judgment to appear on a consumers credit report. "
So 7 years is the maximum unless you live in state that allows it to be renewed. Which most do not renew it.
Additional if it is a lien. You can still sell your property as long as you can get enough to pay all liens.
2006-08-22 22:26:25 · answer #2 · answered by webworm90 4 · 0⤊ 0⤋
The answer is that it depends upon your state. In some states, judgements are good for up to 10 years (or longer), and then they may be renewed for additional decades. If you own property, it is possible that the judgement has been attached to your property as a lien. You will not be able to transfer the property to a new owner without paying off the lien.
It is possible that the judgement has expired. You need to do a google search on the name of your state and the terms "Judgement" and "statute of limitations".
2006-08-22 22:08:47 · answer #3 · answered by Mama Pastafarian 7 · 0⤊ 0⤋
get your credit report (3 agencies) and ask them to remove your judgment from your report. if in your state statue of limitation is longer then 7 years- they will let you know.
2006-08-23 03:29:12 · answer #4 · answered by bianca 4 · 0⤊ 0⤋
you got some replies but here's some great reading, might take you a while though:
http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
if you get any luck please don't forget about me lol, hope it helped you!
2006-08-23 21:52:04 · answer #5 · answered by Anonymous · 0⤊ 0⤋