2006-09-15 06:13:47 · 10 answers · asked by Anonymous in Business & Finance ➔ Credit
At least 7 years, unless you arrange a settlement with creditor to pay debt in exchange for the removal of negative reflection.
2006-09-15 06:16:25 · answer #1 · answered by * Deep Thought * 4 · 0⤊ 0⤋
Sometimes it just gets totally amazing here. Every answer wrong. I'm not even gonna try and attempt to correct all the bad info...it would take up a book!
Why don't you guys do your research?
Judgements can only be on your report for 7 years, beginning on the day the judgement is issued.
It will come off automatically after that time period. It will NOT come off once you have paid the settlement, because it is a public record. Therefore, the creditor has no control over getting it deleted.
A judgement is a serious hit to your credit report, just under a bankruptcy.
2006-09-15 13:13:40 · answer #2 · answered by Anonymous · 2⤊ 1⤋
This Site Might Help You.
RE:
How long does a judgement stay on your credit file? Is it really as bad as having a bankruptcy?
2015-08-18 16:19:27 · answer #3 · answered by Ailene 1 · 0⤊ 0⤋
Well, it depends on what you mean when you say be able to get credit again. If you mean..when can I get a credit card or loan? then you can do so right now. The BK does not stop you from getting credit...it just makes it more difficult, usually by means of higher interest rates on you loans/CC and a smaller loan size/CC limit. Now if you meant, when will I be able to have an A credit rating again? Then the answer is 7 years. When your BK has cycled through it's term of 7 years and then consequently removed, then if you have been re-establishing your credit in the meantime (ie. getting a small car loan((the most important to rebuilding your credit is establishing a good payment history with installment loans such as an auto loan or mortgage payment))) Then when the BK is removed your score will be in the A rating range and you can receive all the benefits of said rating. Good luck!
2016-03-22 15:06:44 · answer #4 · answered by ? 3 · 0⤊ 0⤋
I agree that the judgment stays on your record until it is removed.
Most people don't realize that your credit report does not clear itself. You must be retroactive and make sure your credit is in good clean condition.
If you miss a payment, or default on a loan, have bankruptcy, or a judgment these things are generally reported to the agencies. On the average they must actually be reported to show up on your credit report. That is why if you go to one credit reporting agency they may reflect different debt, than the other company does.
If I simply pay the debt will that clear up my credit? NOPE. You need to make sure it is then removed from each credit reporting agency.
How do I get it removed from credit reporting agency? You must prove to the agency that you have satisfied/ paid the debt and same is no longer due. Another words you must provide them with proof.
Some would say a judgment is worse than a bankruptcy. But others would say a bankruptcy is worse, as they are made up of several debts and/or judgments combined.
www.impartialinc.com
NOTE: The above is not legal advice. If you seek legal advice you should consult an attorney. The above is only an overview general response as to personal knowledge. In no way should the above be construed as, or considered legal advice.
2006-09-15 06:57:29 · answer #5 · answered by Impartial Inc 3 · 0⤊ 2⤋
A bankruptcy and a judgment will stay on your file indefinitely. However, after 7 years you can call and have them removed. Most don't remove them unless you request it.
A judgment isn't as bad as a bankruptcy in some cases. I am not sure how it is used in calculating your FICO score. You may want to ask Equifax, Experian or TransUnion.
2006-09-15 06:19:01 · answer #6 · answered by ciza29 3 · 0⤊ 4⤋
Court Records
2017-02-12 17:39:55 · answer #7 · answered by cyndi 3 · 0⤊ 0⤋
Everything stays on your report for an average of 3-7 yrs & sometimes longer if you don't keep an eye on it.
CT
2006-09-15 06:15:33 · answer #8 · answered by Anonymous · 0⤊ 0⤋
It's better bankrupcy!! depending how much you owe! Bankrupt will clear in ten years. But since I don't know how much you owe?
If you owe to credit cards, it'll take a long time to clear them!!
2006-09-15 06:23:10 · answer #9 · answered by alfonso 5 · 0⤊ 0⤋
7 years.
The 7 yrs. starts when the judgement is satisfied.
I had one paid in '02 and it will disappear in '09 as my credit report states.
2006-09-15 06:33:35 · answer #10 · answered by Celeste 6 · 3⤊ 0⤋