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∙ 13y ago
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If you have a judgment against credit and you hit lotto could they take it?
No, if you hit the lotto you should be able to pay the judgment in full, I hope? LOL
When the credit bureau report updated on a judgment exactly what could they have updated on a judgment that was filed 4 years ago except paid?
If it was not paid in full or settled, the judgment may have been renewed by the judgment holder. Most judgments are renewable and can be kept on a credit report for an undetermined amount of time.
If you have one thirty day late on your credit report how many points could it reduce your credit score by?
40
If a credit card company won a judgment against you in the state of Texas what can they do if you can't pay them?
Well, to start with a judgment stays on your credit for a minimum of 10 years until you pay it off. It could have an impact on your ability to buy a home, a vehicle, get other credit cards, etc.
Which is worse Charge off or judgment?
Depends how you look at it. They hurt your credit score the same if they are on your credit report. But they can be collected differently. If someone gets a judgment against you they can garnish your wages and take your tax refund. A charged off account is usually sent to collections and could possible be turned into a judgment. Either way, you still owe debt on both and they hurt your credit the same.
What if you paid a judgment is it on your credit?
Most likely. Judgments are among the legal items which can be reflected on an individual's credit report. The others are tax liens, foreclosures and bankruptcies. The status (paid or unpaid) is beside the point with legal items. What is needed is for the judgment to have its' proper "disposition". This would be a Satisfaction of Judgment or an Order to Vacate Judgment (dismissal). The disposition needs to be granted in the same jurisdiction as the original judgment and be recorded. You could then forward a certified copy to all three credit bureaus in order for the item to be properly reflected. The impact to your credit is severe, but having a disposition is necessary to prevent the legal item from stopping future borrowing efforts.
How would RV repo hurt credit rating?
How could it NOT hurt your credit rating? I'd say that you could easily slide 200 points having an RV repo on your record, and it could take years to recover from it.
Can you place a lien on a vacation home that you manage if the owner has not paid you?
You would need to bring an action in court and obtain a judgment against the owner. The judgment could be recorded in the land records and would perfect your lien against the property.
What happens when a credit card debt goes to litigation?
A credit card debt will be granted a judgment possibly and then the company can pursue you to collect the debt. A garnishment could even be awarded, although this is rare on unsecured debt.
Can a collection agency have you arrested and sue you for the debt if you are unemployed and on Social Security Disability?
You cannot be arrested for failing to pay a debt. The collection could sue you, but the judgment would be nearly impossible to enforce. Your disability benefits cannot be taken or garnished to enforce the judgment. The most they could do is put the judgment on your credit rating, put a lien on your property and perhaps have some of your nonexempt property taken and sold to pay toward the judgment.
If a 7-year-old charged off card was sold to a lawyer who got a judgment 3 years ago and you made some payments to lawyer can the judgment be removed from your credit report due to age?
If the judgment was rendered 3 years ago, it will remain for at least another 4 years or it could remain for the entire period that the judgment is valid. Depending on state laws, that could be 10,20,30 or more years.
How many points will your credit score drop if you go over your credit limit?
Make sure that you stay below 30% of the credit limit if you want to have a decent credit score. There is a scoring module that Credit Reporting Agencies go by that we as the consumers don't know about. I will tell from experience that your score could decrease anywhere from 10 - 20 points from each bureau that your account is being reported with.
