If I was taken to court for money owed to a bank, when is the 7 years statue of limitations up, from the court date or date of last payment or how do you know???
2007-06-26 05:33:54 · 5 answers · asked by littlemaltese 1 in Business & Finance ➔ Credit
Another amazing collection of crappy answers!
Stu H's response is the exact reason why I come here to help people. He did everything wrong! Didn't research the law...didn't defend himself. Just sat back and took all the abuse.
OK class, once again please open your books up to the Fair Credit Reporting Act (see below).
Judgments stay on your record for 7 years, beginning on the day the judgment was entered. In a few states they can stay on 10 years, so check your local state law on this.
2007-06-26 07:20:20 · answer #1 · answered by Anonymous · 2⤊ 1⤋
Look, it could take 6 months to a year for it to come off after the 7 year mark has been reached regardless of how you calculate it. You should speed up the process through credit repair. Usually companies charge hundreds of dollars to simply pull your credit and send correctly worded dispute letters—this is the key…..people will tell you that you can do this yourself for free but the truth of the matter is that the credit bureaus will throw your letters away or simply reject them. There is an easy to use online kit that will deliver the results you want available for just $19.95 at the source website. A similar kit is being sold via infomercials and radio talk shows for seventy dollars more but they try to solicit you repeatedly for other services after the fact.
2007-06-27 03:30:48 · answer #2 · answered by stephen l 2 · 0⤊ 1⤋
It is the "last" date reported, which would be the date they reported your debt as being in "judgment." A judgment could stay on indefinitely because once it runs out, they can renew the judgment. Debt collectors and lawyer firms that collect debts are extremely dirty players. They will lie, deceive and cheat the system to get debts, even if they don't belong to you.
County Clerks can be fooled by them and end up signing all the necessary paperwork, NOT even properly researching anything. I know, it happened to me, and the county clerks involved claimed they did their job right.
Also, challenge everything with the credit reporting agencies because they mess up all the time and they will NOT remove anything unless you badger the hell out of them, and even then they generally don't because they think they are right and that's it.
2007-06-26 05:52:19 · answer #3 · answered by Stu 3 · 0⤊ 1⤋
The best way to know would be through the credit departments. It should be from the time it hit your credit report.
2007-06-26 05:43:49 · answer #4 · answered by chickenb26 2 · 0⤊ 1⤋
The date the debt was paid in full.
2007-06-26 06:04:43 · answer #5 · answered by zippythejessi 7 · 0⤊ 1⤋