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Recently while reading my credit report, I saw judgment listed. My score has gone down badly. I have not received any collection call lately. I have not received any notice from the court, I am very sure of that. The funniest part is my credit report does not show which court passed the judgment. I am planning to buy a house very soon. I don't know whom to contact. Please help.
Hi Pamela,
Your credit score has gone down because of the judgment listed on your credit report. Is the name of the creditor or the collection agency mentioned in your credit report ? If none of these are mentioned you will have to dispute it directly with the credit bureaus. Send them a Dispute Letter through certified mail with a return receipt requested. You will find a sample Dispute Letter in the Letters of Credit section.
You should enclose a copy of your credit report, with the disputed item circled in red. Under the FCRA, the credit bureau should remove judgment within 15 days after receiving your Dispute Letter, if they are unable to verify it. The credit bureau should also send you a copy of the updated credit report, after they have removed the negative remark.
Hi Pamela,
It is always better to remove all negative items, before you apply for a loan. You should dispute the judgment. In case the court verifies the judgment as valid, the best option would be to pay it off. You can negotiate with your creditors on the judgment amount. You should also come to a written agreement with your creditor, to remove judgment from your credit report, after the payment is made.
If the creditors do not agree to remove the judgment from your report, you should at least settle for "Paid Judgment". It is possible that mortgage companies will approve your loan, if they see that you have tried to pay off your dues.
bankruptcy
i filled bankrucy in 2004 got credit report stll judgment on there which they we listed in bankruotcy
bankruptcy and judgment
Hi smilie,
When a bankruptcy is filed, the debts get discharged, but if there have been any judgment against you, it will continue to be there on your credit report for 7 years.
actually bankruptcy can stay your report for 10 years.
Judgments can be renewed in some states until they are paid. Was the judgment included in the bk?