Even though a judgment is catagorized as settled, it remains on the CR for the full seven years.
Some judgments will be removed according to the seven year time limit some will not. Many judgments are renewable, if that is the case the judgment can stay or be reentered on a CR. The "filed" indicates when the judgment became valid, and that is the date from which the seven year time frame usually begins.
In South Carolina, a civil judgment can stay on your credit report for up to seven years from the date it was filed, as per the Fair Credit Reporting Act (FCRA) guidelines. This can negatively impact your credit score and ability to secure credit or loans during that time period. It's important to address and satisfy the judgment to prevent further credit implications.
A paid judgment stays on a person's credit report for seven years. An unpaid judgment also stays on the report for seven years, but may be renewed. Tax liens are another item that stay on a credit report for seven years, if paid. If not paid, they remain on the credit report indefinitely.
In Wisconsin, a judgment can stay on a credit report for up to 10 years from the date it was filed. However, if the judgment is paid, it may be removed earlier based on the credit reporting agency's policy.
The statement, "execution of judgment is stayed until final payment is received at which time judgment will be deemed satisfied" means that the judgment will be held against you until the debt is completely paid off. You can then get a letter of clearance to have the judgment removed from your credit report. Most debts will remain on a credit report for 7-10 years, even after they have been paid and satisfied.
Judgments are essentially lawsuits filed by a creditor that you owe money to. You generally can't get out of a judgment unless you go to court to fight it. You generally will have to pay a judgment willfully or by force to satisfy it. It will also show up on your credit report unless you dispute it to the credit bureaus. The credit bureaus have 30 days to verify it or it will be removed from your credit report.
If the judgment names only one spouse as the judgment debtor it will not be entered on the non judgment spouse's credit report.
10 years
Some judgments will be removed according to the seven year time limit some will not. Many judgments are renewable, if that is the case the judgment can stay or be reentered on a CR. The "filed" indicates when the judgment became valid, and that is the date from which the seven year time frame usually begins.
In South Carolina, a civil judgment can stay on your credit report for up to seven years from the date it was filed, as per the Fair Credit Reporting Act (FCRA) guidelines. This can negatively impact your credit score and ability to secure credit or loans during that time period. It's important to address and satisfy the judgment to prevent further credit implications.
In NY State it will stay on your credit report for 5 years from the date filed. Most states are 7.
A paid judgment stays on a person's credit report for seven years. An unpaid judgment also stays on the report for seven years, but may be renewed. Tax liens are another item that stay on a credit report for seven years, if paid. If not paid, they remain on the credit report indefinitely.
== == A judgment will remain on a credit report for the full 10 years. If it is paid it will still show on the report as "satisfied" or similar wording. The time is determined by the date the judgment is issued.
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.
In Wisconsin, a judgment can stay on a credit report for up to 10 years from the date it was filed. However, if the judgment is paid, it may be removed earlier based on the credit reporting agency's policy.
Not if the debt was discharged in the bankruptcy. If the judgment was on the credit report before the bankruptcy was filed and/or was discharged in the bankruptcy, the entry will still remain on the CR for seven years.
You can have a credit dispute, if the agency reporting the bad judgment does not get back with the company disputing the judgment within 30 days, it HAS to be removed from your credit report. Example: I filed bankruptcy(?) on a auto repo. and the company did not take it off my credit report, I had my credit card company do a credit dispute, they did not respond within 30 days, and it was removed from my credit report.