What does a court judgement mean on my credit file?
Court judgements listed on your credit report indicates legal action, and a decision ruled against you by a court. As such, the court case would be a result of a financial dispute between yourself and a creditor. Hence, the court outcome would incur a default judgement payment against you. Also, the judgement payment would give the creditor or debt collector enforcement action to force you to pay the debt.
- A default judgment is an outcome of a debt collection process. Consequently, your credit file records the negative result of a court hearing via a published public record.
- Secondly, the court outcome rules that you owe the money.
- Thirdly, the court can assign legal costs against you.
- Also, the court will apply time limits to the payment of the judgment debt.
A Court judgment can be made by a Court making a decision following a contested hearing or alternatively a judgment by consent. If the Court judgment is a matter of public record a credit reporting provider can source the information from public records to record on personal credit files. Often information contained on the public record is not complete, or does not represent the entirety of the circumstances. This creates very narrow and possible misleading to any potential credit provider that views your credit file. A court judgement lingering on your credit report for five years is prohibitive. You may not be able to obtain a mortgage or secure a business loan in your name. If you want to remove a court judgement from your credit report, there are several steps that We Fix Credit can take to remove the court Judgment from your credit file.
We Fix Credit have the fastest turnaround in the country of having these matters resolved with no hassle to you. Our 13 years experience and efficiency is the reason that we are the right choice to remove a court judgment from your credit file.