What is a Judgement?

What is a Judgement? How Do I Handle a Judgement?
A judgement is a creditor's last resort for making you pay a debt. When you take a loan, such as a credit card, part of the fine print states that you agree to be sued if you don't pay. By taking you to court, the creditor will attempt to show that your debt is legitimate. Assuming you do owe the money, it may be best to try and resolve any pending legal actions as quickly as possible.

Should I Negotiate to Prevent a Judgement?
Your creditor may be willing to negotiate in exchange for resolving the debt without court intervention. Having a partial cash payment ready may help to show good faith and hold off the creditor from taking further legal action.

(Warning! - Check to see if the debt is beyond the statute of limitations. Making even a small payment can re-instate your legal obligation to pay a debt that is otherwise un-collectable - OUCH!)

If the matter has been referred to a lawyer and your creditor is willing to negotiate, make an offer to the attorney. Ethical duties absolutely require the attorney to communicate your offer to the client - no matter how modest your offer may be!

The bottom line is that you should avoid going to court for this. If you can - a settlement is always better than getting the judgement. Once a judgement is filed, it will also appear on your credit reports and stay there for up to 10 years!

What if I Can't Settle - What Happens Next?
If you are forced to go to court, by all means show up! Far too many people make the mistake of not going.

On the other hand, going to court shows a sincerity to present a valid defense and resolve the dispute. In other words, you will score points with the judge and the plaintiff creditor. Of course, you should be prepared and ready to present a defense.

What If The Court Files a Judgement Against Me?
When a court issues a judgement in favor of the creditor for the amount owed, you will receive a Notice of Judgment, giving you 30 days to pay the debt in full. After that time, the creditor can execute certain actions against you, such as placing a lien against your home or other property. In some states, they are permitted to garnish your wages, or in some cases actually seize your personal property to obtain payment for the debt!

A Warning to Homeowners! If you own your home and your creditor places a lien on it, you will have to pay off the lien before you can sell, refinance, or take equity on your home.

I Have a Judgement on my Credit Report - Is that Bad?
Your credit score today is more important than ever - your job is to do everything you can to protect it, improve it, maintain it. If a judgement lands on your credit report, the effect is devastating. Not only will your borrowing power be severely limited, you will face many other problems. For instance, you might have to forget about that great new job offer - it's common these days for a low credit score to be the deciding factor for employers to reject a new job applicant.

This is just one example of how many people consider a credit score to be more and more important for all types of things in this increasingly credit strapped World.

Although a judgement is a serious problem for any consumer trying to get approved for new credit or land a new job, the good news is that addressing the problem head on will help get you on the right track. Regardless of what your local stuffy bank teller has convinced you of (You've heard them parrot the line - "bad credit must remain on your credit report for seven years...blah...blah").

The truth is that any questionable negative information can legally be disputed and deleted from your credit reports.

Getting help from a qualified credit correction attorney (we recommend Lexington Law) is the best choice. Lexington Law's experience in credit repair is unmatched. The attorneys there have dedicated their careers to using the credit laws to dispute and delete all types of questionable credit items including charge offs, judgments, bankruptcy, late pays, repossession, and other types of derogatory listings. In fact, Lexington Law, on behalf of its clients, removed a total of 6,928 Judgments between July and September of 2008)!

Help is a simple phone call away! A credit specialist is available by dialing:
1-888-585-3999
(free case analysis provided by The Lexington Law Firm)

Here's Some Proof! Below is credit report judgment deletion letter from a client of the Lexington Law Firm: