Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

hasdad62 asked in Business & FinanceCredit · 1 decade ago

Collection to Judgement?

I have had a courtcase filed against me. It has been on my CRA's for 6 years. If they are awarded a judgement against me, will it show for 7 more years as a judgement?

Update:

Jester, I sent you an email yesterday. And I did join this morning.

4 Answers

Relevance
  • ?
    Lv 7
    1 decade ago
    Favorite Answer

    Yes it will, Judgments show for 7-years of until the statute of limitations runs out whichever is longer.

    Source(s): Finance Manager for over 8-years / 2008 edition Consumer Action Handbook.
  • 1 decade ago

    Well the 7 yr thing only applies to certain type of bankruptcy. If you have a judgement filed against you for a credit matter, it will remain on all three credit bureau reports until you clear up that matter and pay what is owed. If you choose not to you should try to fight it and get the judgement reversed. Moral of this story is if you do nothing and ignore it, it isn't going to go anywhere ...... it will sit on your reports and wait for you to address it..... and will negatively affect any credit type transactions you try to make in the future *(ie. car loan, house loan, line of credit).... Don't let it just stew, fix it .... Good luck

  • 1 decade ago

    The first answer is incorrect. Judgements report for 7 years, just like most other debts.

    Hasdad - Did you ever join up over on Creditboards.com? I can't stress enough how you should do that.

  • 1 decade ago

    You should check to see if the statute of limitations has expired on this debt. If it has, you need to use this as a defense. Review the court papers to see how to dispute the case against you.

    The original debt may no longer be reported after 7yrs. but the judgment creates a new entry and will remain for 7yrs.

    Here's the SOL link:http://www.bcsalliance.com/statute_of_limitations_...

Still have questions? Get your answers by asking now.