A judgment, default judgment, and credit card judgment all mean the same thing.
You are legally responsible to pay back a debt. This has happened in a court of law.
The lender went to court and filled a lawsuit against you and won their case. This will give the lender legal grounds to have your wages garnished to repay this debt.
This will cause you credit score to be negatively impacted, it is a very derogatory mark to have on your credit. Judgments can be sought after for any sort of unsecured debt, it is common for collection agencies to seek judgments.
This mark will stay on your credit for 7 - 10 years dependent upon the state that court was held in, and the statute of limitations in that state. However it is common for creditors to renew judgments.
This can make it impossible to ever get out from under a judgment. However you can have a judgment removed from your credit, sometimes without having to pay the debt.
I recommend you first disputing the judgment with the credit bureaus. This is done by writing a dispute letter in which you explain why the listing is wrong and should be removed.
The bureaus will then conduct an investigation into the listing. They will try to verify that it is real and the amounts are accurate.
If the debt is inaccurate or is not verified then the bureaus must remove it from your credit. Frequently investigations result in a negative listing being removed.
However a judgment is such a severe mark that it doesn't have as good of chances of being removed. This often means you are stuck with the listing.
However in some cases a judgment is not correct. Thus the mark should be removed and you should not be responsible.
This is the time when you should consider a credit attorney. They have an expert knowledge of credit laws and the ability to go to court if necessary to prove that the judgment is wrong and should be removed from your credit.
Credit attorneys do not have to be paid thousands of dollars. You can actually hire them at a reasonable rate. A very popular credit repair service Lexington Law has over 20 attorneys and can be hired for as little as $39 a month.
You are legally responsible to pay back a debt. This has happened in a court of law.
The lender went to court and filled a lawsuit against you and won their case. This will give the lender legal grounds to have your wages garnished to repay this debt.
This will cause you credit score to be negatively impacted, it is a very derogatory mark to have on your credit. Judgments can be sought after for any sort of unsecured debt, it is common for collection agencies to seek judgments.
This mark will stay on your credit for 7 - 10 years dependent upon the state that court was held in, and the statute of limitations in that state. However it is common for creditors to renew judgments.
This can make it impossible to ever get out from under a judgment. However you can have a judgment removed from your credit, sometimes without having to pay the debt.
I recommend you first disputing the judgment with the credit bureaus. This is done by writing a dispute letter in which you explain why the listing is wrong and should be removed.
The bureaus will then conduct an investigation into the listing. They will try to verify that it is real and the amounts are accurate.
If the debt is inaccurate or is not verified then the bureaus must remove it from your credit. Frequently investigations result in a negative listing being removed.
However a judgment is such a severe mark that it doesn't have as good of chances of being removed. This often means you are stuck with the listing.
However in some cases a judgment is not correct. Thus the mark should be removed and you should not be responsible.
This is the time when you should consider a credit attorney. They have an expert knowledge of credit laws and the ability to go to court if necessary to prove that the judgment is wrong and should be removed from your credit.
Credit attorneys do not have to be paid thousands of dollars. You can actually hire them at a reasonable rate. A very popular credit repair service Lexington Law has over 20 attorneys and can be hired for as little as $39 a month.
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To learn more about how to remove judgments or for a free credit repair letter or for more information on how you can dispute equifax or dispute experian visit us.
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