Which is worse? BANKRUPTCY or JUDGEMENT on Credit Report? How long does each stay on report?

0 ⤊

Which is worse? BANKRUPTCY or JUDGEMENT on Credit Report? How long does each stay on report?

Just want to know how long a court judegement stays on the account? And alos collections ? Do they every clear?

2007-02-28 05:53:57 · 2 answers · asked by dozgal 1 in Business & Finance ➔ Credit

2 answers

Bankruptcy stays on for 7 to 10 years and so does a judgement they all do after a certain amount of years

2007-02-28 05:57:56 · answer #1 · answered by Denny O 4 · 0⤊ 0⤋

Well, the answer really depends on your situation. Yes, a bankruptcy will harm your credit for up to 10 years. However, a judgment creditor can do things like put liens on your assets and garnish your wages. A bankruptcy will help you erase your debts.

2007-03-01 14:51:48 · answer #2 · answered by Carl 7 · 0⤊ 0⤋