November 10, 2016
Judgment on your Credit Report? Top 5 Ways to Resolve Them
Owing money that you cannot pay back is scary thing. This can cast a shadow over many parts of life, from finding a job to applying for a car loan. But, what may be even worse is finding out that you have already been sued for debt and didn’t even know about it. If a creditor or collection agency has sued you then that results in a money judgment. This means that a court has ruled against you and your debt is a matter of public record.
A Judgment on your Credit History with loan defaults and repossessions is one of the biggest negative hits to your credit score. FICO score considers these judgments as negative, whether it is paid or unpaid. And, once the judgment is satisfied the status will be updated on your report to show that it has been satisfied or settled, but it will not be deleted immediately. So, you could easily judge why removal of judgment from credit history is pretty big deal.
Here are five ways to deal with a judgment:
Summary: Top 5 Ways to Resolve a Judgment on your Credit Report
Deal with the judgment in an effective manner. As judgment could almost have negative effect on your FICO score. Reach out a company that works on judgment settlement and see if there is an alternative that might work.
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