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How long does a judgment stay in your records and does it stay even if you and the creditors have reach a settlement?
Wiki User
∙ 8y ago
The Fair Credit Reporting Act allows judgments to show on a consumer's credit report for "seven years or until the governing statute of limitations has expired, whichever is the longer period".
Being a legal action, a judgment must have a disposition, called a satisfaction of judgment. Being paid, or in your case, settled, is often just a technicality. You need to contact the court at which the judgment was originally granted and recorded. The clerk of courts may be able to advise you on the method of obtaining a satisfaction or an order to vacate (similar to a dismissal) on this settled debt. It would certainly be easier if the creditor had taken care of this, but you can take care of it yourself. Godd luck!
Wiki User
∙ 8y ago
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How long does a judgment stay on your credit report in Indiana?
In Indiana, a judgment can stay on your credit report for seven years from the date it was filed. This can negatively impact your credit score and ability to access credit in the future. It's important to resolve any outstanding judgments or work with creditors to reach a settlement to improve your creditworthiness.
What should you do if a judgment is 6 and a half years old and you do not know if it will be renewed?
A judgment creditor seldom lets a judgment lapse. That would mean the entire process of filing a lawsuit and being granted a judgment wasted effort. The only option of the debtor is to pay the judgment amount or reach a settlement agreement of some type with the judgment holder.
What is an order whereby judgment is not made for a period of time?
A stay of judgment is an order whereby the court temporarily suspends making a judgment in a case, usually to allow for additional evidence or time for parties to reach a settlement. This provides parties an opportunity to address any pending issues before a final decision is made by the court.
Where is the Reach Records recording studio?
Reach Records' recording studio is located in Atlanta, Georgia, in the United States.
What can you do when there's a judgment on you but for years you haven't received any statement or updates of the account?
Once a judgment has been entered into court record no notification will be given to the debtor until the judgment is executed against the debtor's nonexempt property. Although most creditors will keep in contact with the debtor to attempt to reach some sort of settlement. Judgments can be valid for 5-20 years depending on the laws of the debtor's state and many are renewable. Please keep in mind that at anytime while a judgment is valid it can in most states, be used to garnish wages, levy bank accounts, place liens against real property or seize and sell property belonging to the debtor that is not protected under the laws of the state of residency.
What is A good sentence with settlement?
The wagon train was relieved to reach the settlement before the storm broke out.
If you have been served notice of a judgment against you can the judgment be dismissed or is it too late?
The defendant debtor can negotiate with the plaintiff creditor up until the time the judge awards a judgment for the debt owed, and sometimes after a judgment has been handed down. Often the presiding judge will request the two parties meet with an indpendent mediator to attempt to settle the issue without it being necessary for the court to make a decision. A judgment is issued after the case has been heard. If the debtor has already received a notice of final judgment that would indicate that the plaintiff creditor has won the case and can execute the judgment in the time and in the way the laws of the state allows. It is in the best interest of the judgment debtor to try and reach a settlement with the judgment creditor. Some creditors will negotiate for a lesser amount even after a judgment award just to have the matter finished, but many will not if they believe they can collect a larger amount by letting the judgment stand. Judgments can be valid 5 to 20 years and many are renewable, they will continue to accrue interest until they are paid or settled and the debtor can end up owing considerably more then the original debt.
Which Norse explorer was the first to reach northern america?
Leif Ericson, around 1000 AD. Although no firm records show where and when he explored, artifacts found in Canada point to a brief settlement by the Vikings.
How do you avoid a judgment?
If the judgment is valid it can be executed by the judgment holder in the manner prescribed by the laws of the state in which the judgment debtor resides. The only action available to avoid a lawsuit judgment is to reach an agreement with the creditor for repayment of the debt.
If settling out of court do I still have to answer the summons?
You would not have to answer the summons as long as the plaintiff agrees not to move for entry of a default judgment for you not answering the summons within the appropriate time. Also, if you do reach a settlement be sure that the plaintiff promises to and does dismiss the lawsuit when the money is paid.
who were the first Europeans to reach north America why did their settlement fail?
1.the vikings were the first european to reach america,
Which settlement gives up some of its demands in order to reach an agreement?
the convection
