Debt Consolidation Credit Counseling In Phoenix

Judgments are also called default judgments or credit card judgments. These terms all have the same meaning.

You are legally responsible to pay back a debt. This has happened in a court of law.

The creditor has sued you and won their case. This gives the creditor legal grounds to have your wages garnished to pay back the 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 remain on your credit file for 7 - 10 years. It depends upon what state the case was filled in and what the statutes of limitations are in that state. It is also common for lenders to seek a renewal judgment if the debt has not been repaid at the end of 7 or 10 years.

This makes it possible to never be able remove a judgment. However with some savvy credit repair attorneys and a little luck you may be able to remove a judgment without paying it.

I would first suggest creating a dispute letter. In this letter you identify the judgment listing and explain the reason it is not accurate and mail it to the credit bureaus.

The bureaus will then hold an investigation. They will try and verify the debt and the amount of the debt with the lender or collection agency.

If the debt is not verified or found to be inaccurate then the bureau must remove the mark from your credit report. Often investigations result in a mark being erased.

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 when I recommend a credit attorney. They will be able to use their expert knowledge and when necessary go to court to prove that the judgment is not right and should be removed.

You can actually hire a credit attorney at a reasonable rate. Lexington Law has 22 credit attorneys on their staff and they can be hired at under $80 a month for the top of the line service.