Deficiency judgments aren't good. It means you still owe money on a debt, even after your home is sold in foreclosure. Not only that — judgments seriously hurt your credit! Luckily, there are ways to start rebuilding your credit. While DIY is an option, it's easier w/help from a pro like Credit Glory.
What happens when you have a deficiency judgment?
Dealing with foreclosure is stressful — & a deficiency judgment makes it worse. A deficiency judgment happens when a creditor sells your home in foreclosure but doesn't get enough money to cover the debt. Since you still owe money, the creditor can get a court order to collect the debt.
What a judgment means for your credit score
Judgments seriously hurt your credit score — and stay on your credit report for 7 years! Poor credit leaves you with fewer options for loans and lines of credit. The ones you do qualify for often leave you paying more in high-interest rates. Luckily there are steps you can take to avoid paying a judgment — & even get it removed. This helps protect your credit score and limit the effects of the judgment. So what do you do?
How to save your credit after a deficiency judgment
Dealing with a deficiency judgment is scary. Luckily, you have options to save your credit and start improving your score. So what can you do?
- Attempt to vacate the judgment - If a debt collector made errors filing their lawsuit, you have grounds for vacating the judgment. Vacating a judgment means the debt can't be collected until a new trial starts.
- File a claim of exemption - Having property or wages seized because of debt is scary. Filing a claim of exemption prevents creditors from seizing certain assets.
- Validate & dispute errors yourself - Inaccurate judgments can show up on your credit report. If a judgment can't be verified, your best option is to dispute it.
- Hire a credit repair professional - Looking for errors & disputing a judgment yourself is tough. Credit repair companies (like Credit Glory) quickly identify & dispute errors for you (boosting your score).
Why repair your credit w/Credit Glory vs DIY?
Removing inaccurate collections (& other errors) helps improve your credit (& boost your score). DIY credit repair is a headache. Partnering w/Credit Glory is often a simpler alternative. Why?
- Easier - Making a mistake disputing DIY costs you. Credit Glory helps you build a strong case for disputing inaccurate collections (& boosting your score).
- Saves you money - An unsuccessful dispute leaves you stuck with debt (& poor credit). Credit Glory helps you boost your score — which means saving money on loans (& interest rates).
- Top-class customer support - Credit Glory has best-in-class customer service to answer questions and keep you updated. Credit Glory even offers an industry-leading 100% money-back guarantee (if no errors are removed in the first 90 days).
Start rebuilding your credit (& boost your score) w/help from Credit Glory
Disputing negative items on your credit report is hard work! It takes a lot of time, effort, organization, and follow up. The good news? Our team of credit repair professionals is here to simplify everything! Let your dedicated credit repair expert relieve you of the stress, hassle, and time needed to fight your inaccuracies and boost your credit score (FAST!)
Credit Glory is a credit repair company that empowers consumers with the opportunity and knowledge to reach their financial dreams in 2021 and beyond.
Call us at (855) 938-3044 or set up a consultation to get started, today!
Get Your Negative Items Professionally Removed
In some cases, we recommend speaking with a Credit Repair professional to analyze your credit report. It's so much less stress, hassle, and time to let professionals identify the reasons for your score drop.
If you're looking for a reputable company to increase your credit score, we recommend Credit Glory. Call them on (833) 958-1271 or setup a consultation with them. They also happen to have incredible customer service.
Credit Glory is a credit repair company that helps everyday Americans remove inaccurate, incomplete, unverifiable, unauthorized, or fraudulent negative items from their credit report. Their primary goal is empowering consumers with the opportunity and knowledge to reach their financial dreams in 2020 and beyond.