0
Is there any advantage to paying off an old judgment if it is nearing the 7 year mark?
Wiki User
∙ 19y ago
There is always an advantage to paying off any debt. The seven year rule does not apply to all judgments. Many judgments can be and are renewed until the debt is satisfied.
Wiki User
∙ 19y ago
Add your answer:
Earn +20 pts
Does a judgment have to be paid off before you can refinance your home in Texas?
This is the decision of the bank. But it is very likely as a judgment is a black mark on your record. It is also likely if you have good credit otherwise and the refinance is to pay off the judgment it will not hurt your chances.
What are the penalties for not paying a title loan?
they would more than likely take your car!! Repo your car and bad mark on your credit history.
Can a satisfied judgment be taken off of your credit report?
A satisfied judgment can be taken off your credit, if it is inaccurate. If the judgment is yours, it will remain for the full reporting period allowed by law.Here is more advice:I have a satisfied judgment on my credit report. We satisfied this judgment 5 years ago. However, the plaintiff the judgment was awarded to, never bothered to give the court an order to mark the judgment satisfied. And I didn't know at the time that I could do it myself. I went down to the court Friday and gave them a 'request to vacate judgment' form. I have to wait a week to see if they will do it. If they don't, I'm taking the plaintiff in this judgment to court. I'm going to sue him for the amount of the satisfied judgment times the 5 years it's been reported to the credit bureaus. The credit bureaus are worthless and they are no help at all. They don't investigate anything. I found a lot of interesting websites with lots of info on how to fix errors on your credit report. If you want more info, email me and I'll send you a list of the URLs I found.The previous answer was a bit scary. Credit reporting is not the responsibility of the judgment plaintiff, nor the courts, nor the bureaus themselves. If a consumer is sued over financial matters that typically show on a credit report (judgments, tax liens, foreclosures and bankruptcies) those actions need their proper disposition. Obtaining that disposition is not anyone else's responsibility. It is up to the defendant to find out what steps to take to clear their credit. A lawsuit for failing to do so would most likely be unsuccessful.The lawsuit that he is speaking of is true and is valid, when and only after you have requested in writing, from the person who has put the Judgement on you, the filing of a satisfaction of Judgement, if they do not file within 14 day of receiving the written request then you can sue for the amount of the Judgement Plus 50 dollars according to California state law Code of Civil Procedure section 116.850. (116.850. (a) If full payment of the judgment is made to the judgment creditor or to the judgment creditor's assignee of record, then immediately upon receipt of payment, the judgment creditor or assignee shall file with the clerk of the court an acknowledgment of satisfaction of the judgment. (b) Any judgment creditor or assignee of record who, after receiving full payment of the judgment and written demand by the judgment debtor, fails without good cause to execute and file an acknowledgment of satisfaction of the judgment with the clerk of the court in which the judgment is entered within 14 days after receiving the request, is liable to the judgment debtor or the judgment debtor's grantees or heirs for all damages sustained by reason of the failure and, in addition, the sum of fifty dollars ($50).)Regarding the above note: Successfully petitioning for a Motion to Satisfy Judgement does nothing more than show that the judgment was satisfied within the negative entry in your credit report. It will remain in your Credit Report (showing satisfied) for 7 years as allowed by law. Now, if someone knows in DETAIL (please be specific with your answer along with Links if referenced) how to truly remove a satisfied/paid judgment within the 7 years then please let us all know.It should be removed automatically after seven years, but even a judgment that's satisfied can't be removed before then. Your credit history - the good and bad - is reported for a period of seven years.I went through the same situation with a satisfied judgment that wasnt updated by the plaintiff. However, I found the credit bureaus helpful b/c I was able to go online and dispute it through annualcreditreport.com along with other stuff I know I paid. They updated it within a week and I had about 5 accounts updated (even some I know I still owed) I pays to stay on top of your credit, some companies may change names, lenders, go out of business (you never know) So, my advice is to dispute it on your credit report. Anyway, Good Luck with your lawsuit.I agree with the above. I recently disputed a judgment that was satisfied but it wasn't being reported that way and they just deleted it.A satisfied judgment should stay on your credit report for 7 years from the last activity. It can only be removed by the court that placed in on your credit report or by the credit bureau reporting it. You can request to both to verify the account is yours and if they judgment is not verified it can be removed.A satisfied judgment does not have to stay on for 7 years at all. This is a myth. You must understand the law. It states that derogatory entries can stay on your report for 7 years, not mandatory that it will. The key is can stay on!! That part of the FCRA is in place for people who do not check there credit regularly. So it gives a limit to the holder of the debt or plaintiff to pursue resolution to get debt paid!!! To get removed all you have to do is get notice from original plaintiff that through the courts the debt has been paid. They will acknowledge this and get you a statement letter of satisfaction. Take that letter to the court that rendered the Judgement and they will update. The next step is in writing contact the Credit Bureaus and show cause for a dispute! The cause will be that per the original plaintiff the derogatory entry should be moved. They will have to investigate this for you and when they call the original plaintiff they will not respond and the Bureau will remove within 31 days. I have helped people get over 20 judgments removed this way!
What is the Formula of mark down rate?
Formula of mark down
What is currency breakdown?
I believe this occurs when a nation's currency is devalued due to economic forces within and without. An example was post First World War Germany when the German Mark was practically worthless. Germans were paying thousands of marks just to purchase a loaf of bread. This was primarily due to the stiff reparations imposed by the victors on the defeated nation.
How tall is Mark Nearing?
Mark Nearing is 5' 10".
What is advantage of taking the lowest mark on the main scale as the zero mark over the centere- zero?
The advantage of taking the lowest mark on the main scale as the zero mark over the centre-zero is that it covers for all the errors that may happen.
What is the advantage of taking the lowest mark on the main scale as the zero mark over the center-zero?
The advantage of taking the lowest mark on the main scale as the zero mark over the centre-zero is that it covers for all the errors that may happen.
What huge error in judgment did the principal designer of the mark 1 make?
Sorry- the Mark 1 WHAT? Please repost your question with enough information for us to answer.
Does a judgment have to be paid off before you can refinance your home in Texas?
This is the decision of the bank. But it is very likely as a judgment is a black mark on your record. It is also likely if you have good credit otherwise and the refinance is to pay off the judgment it will not hurt your chances.
Who is better Jeff Gordon or Mark Martin?
Mark Martin - unlike Gordon, Martin has won without a technology or resource advantage.
Is it possible to get sslc 2009 mark -list also in addition to grade certificate by paying additional fee?
i need sslc mark list 2009 register no. 411823
What actors and actresses appeared in Advantage - 2007?
The cast of Advantage - 2007 includes: Cory Derrick as Evil Ball Boy Shelly Lauman Mark Leonard Winter
What actors and actresses appeared in Seat of judgment - 2014?
The cast of Seat of Judgement - 2014 includes: Mark Bellinger as Lionel Ravensthorpe
Wwe what were the results of judgment day 2010?
1st place Triple H 2nd place Undertaker 3rd place Hulk hogan 4th place Big show 5th place Mark Henry these are judgment day results
What happens after a entry judgment is granted?
That pretty much depends upon how much the judgment is for. usually, if the judgment amount is small, then nothing happens except that you have a really negative mark on your credit report. If you attempt a purchase a home, the mortgage lender will force you to pay off the judgment before they will extend a mortgage loan to you. The judgment will appear on your credit report for a very long time and will negatively impact your credit score. If the judgment is for a relatively large amount of money, the creditor will most likely seek to garnish your earnings or attach monies in your bank accounts.
What is the nisaab?
it is an Arabic word نصاب meaning mark/limit and is about somethings like calculating Islamic tax and paying it to poor people.
