At this time there are not many ways to delete judgments from credit. The best way to deal with this is to try to not have it put on your credit report to begin with. It will lower your credit score considerably. As soon as you've been sued, it's always good to talk to the agency filing the papers against you in case they may want to come to a payment arrangement with you, thus removing the case from court.
Once the judgment goes through the court system, it can stay on file from 12 to 20 years. It can also be renewed, but that's only if the lender wants to re-file, which isn't so likely. But in this case it would be good to pay off the debt as soon as feasible. If the judgment has already been placed on your credit report, here are some things to look at:
The statute of limitations is the fixed amount of time that a lender can lawfully file a suit against you. Each state has a distinct statute of limitations. Most are roughly four or more years. You should always be sure to check this because if the statute has passed, the debt is deemed not legally binding.
There is a thirty day wait while the credit agency records it with the court in order for a ruling to made on the debt. It's either considered legitimate, or not. If the court has not made a judgment after thirty days, the credit bureau deletes it. Following this is ruled, the debt is no longer considered legally binding and you aren't duty-bound to pay anything.
If the legitimacy of the debt is still within the statute of limitations, the next step is to try and negotiate with the creditor. In writing, payment arrangements could be made, and the creditor could set aside the judgment and the debt is officially void on record.
Once the judgment has been satisfied, it is marked on record as a satisfied judgment. It will stay on your credit for seven years. It won't be taken off sooner than that, so at this time there are not a lot of things that you can do about deleting the mark.
A good credit lawyer can help to fix up your credit report, although. They will be able to appraise your credit and see which modifications need to be made, and file paperwork for you personally. This can help your credit score very much, and it'll also clean up your report so it is easier to make sure everything on it is in order.
Author Resource:
To find out more regarding credit repair and in addition personal finance simply do a web lookup.
![[Valid RSS feed]](http://www.look4articles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
![[Valid RSS feed]](http://www.look4articles.com/images/rss.jpg "XML Feed For RSS")