View Full Version : Judgement on my credit report
hank2
Dec 28, 2006, 01:50 PM
On Dec 19, I lost (I settled) a libel suit in a philadelphia district court because the other party, which had deep pockets said they would bring in an expert to show I harmed their business, even though my comments were true. My lawyer sold me out and I agreed to pay 2,500.00. Question>> if I agreed to pay this in 14 days, will it still appear on my credit report, and if it does how bad will it effect my score? Thanks for your response(s):(
KMSRyana
Dec 28, 2006, 04:08 PM
Hank usually the courts are EXTREMELY quick to place judgements on your credit and make it very very difficult to have them removed. Often after they are removed from your credit they will resurface again and again later. I know this is not the news you want to hear, but it's how it is. The best thing you can do is pay the money to them as quickly as you are able and check your credit with all three major bureaus in about two months. You need to wait that long because it may take that long before the information the court sends to them actually surfaces on your reports. The three bureaus are Trans Union, Experian, and Equifax and they all have .com sites. You are allowed to receive free credit reports from each of them to ensure accuracy. If the judgement does appear, I would not recommend disputing it with the bureaus directly, as they will continue to resurface at a later date and this will frustrate and upset you. If it appears, I would look for a Credit Services Organization in your state that is bonded and registered with the State Attorney General's office. The idea of using a company like this is that once they repair the inaccuracy it will be permanent.
Hope this helps.
s_cianci
Dec 29, 2006, 11:25 AM
If you pay it in a timely manner it shouldn't appear on your credit report.
ScottGem
Dec 29, 2006, 01:25 PM
Since this was not a judgement for unpaid debt, it shouldn't appear on your credit report.