What is a Judgment?
A judgment is when an individual is taken to small claims court and a judge makes a ruling against the individual, this judgment is considered a public record. The court can award a debt collector a civil judgment for the amount you owe plus interest, fees and court costs if a judge deems the charges are valid and warranted. Judgments, liens and bankruptcy severely impact credit scores and can make it difficult or sometime impossible to secure employment or obtain a loan.
It is never a wise idea to ignore your debt. Before a debt collector proceeds with a judgment they will attempt to reach you by mail and phone to discuss paying off your debt. There is a specific time period for collecting a judgment, however it varies by state. This “statute of limitations” is often ten to twenty years long. In addition, in most states it can be renewed. For that reason, it’s best to try to avoid getting a judgment against you in the first place. Another reasons you want to avoid getting a judgment against you is that creditors may have additional ways to collect once a judgment has been issued. Depending on your state’s laws, they may include going after your bank accounts or other property, or trying to garnish your wages.
Adverse public records on your credit report can have severe negative effects your credit score. Most public records can remain on your credit report for up to seven years. Although, certain types of public records may remain for longer periods. For example, bankruptcies remain on your report for ten years, and an unpaid tax lien could remain on your credit indefinitely.
However, here at Y2K Credit Solutions we are capable of removing any public record from all three major credit bureaus with our experience, insights, and unparalleled problem solving mechanisms together with a state of the art technology, we have been able help thousands already and can assist you with resolving any public record.
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