What Do Outstanding Judgments Mean For Your Credit (& Can You Remove Them)?

What is an Outstanding Judgment and How Did it Get on My Credit Report?

If you owe a creditor and fail to make payments, they may take legal action against you by filing a lawsuit. If they win the case, a legal ruling known as an outstanding judgment can be issued against you. Besides the original debt, the judgment can include fees such as court fees, interest, and attorney fees.

This judgment can negatively impact your credit score and stay on your credit report for up to 7 years. As a result, it can be challenging to obtain credit or loans in the future.

Keep in mind that there are instances where judgments are issued without your knowledge or in error. You may have missed a notice of the lawsuit or the creditor filed the lawsuit after the statute of limitations had expired. In such cases, the judgment may be invalid.

Understanding Outstanding Judgments and Their Impact on Credit Scores

An outstanding judgment can be quite distressing, adding to the burden of paying off a debt. A creditor may obtain an outstanding judgment by winning a lawsuit against you for an unpaid debt. This can result in additional fees that can quickly accumulate.

The repercussions of an outstanding judgment can be severe and can have long-term effects on your credit score. Judgments can remain on your credit report for up to seven years, and if you don't pay them, you risk facing wage garnishment and liens on your property.

Protecting Your Credit Score From Negative Items

Your credit score carries significant weight when it comes to your financial future. However, it can easily be dented by negative items, such as erroneous judgments, on your credit report. According to the Federal Trade Commission (FTC), one in every five credit reports contains inaccuracies. Such mistakes can adversely affect your credit score and make obtaining loans, credit cards, and even jobs more challenging.

Protecting your credit score requires taking swift action to ensure the information reported is precise. The best tool at your disposal to correct these errors is by disputing them. You can dispute the inaccuracies by yourself, or you can seek the help of a credit repair expert like Credit Glory, who can expedite the process.

Vigilance is key when it comes to protecting your credit score. Promptly addressing inaccuracies is the first step towards ensuring the accuracy and reliability of your credit report.

How to Remove Inaccurate Judgments from Your Credit Report

Inaccurate judgments on your credit report can be detrimental to your credit score and can limit your financial opportunities. However, you can take specific steps to dispute and eliminate them.

If you choose to dispute the inaccuracies yourself, obtain a free copy of your credit report from each of the three credit bureaus, namely Equifax, Experian, and TransUnion. Look for inaccuracies related to the judgment, such as incorrect personal information, fraudulent accounts, balance errors, and data mistakes. Then, dispute these errors with the relevant credit bureau(s) that reported the inaccurate information.

It's worth noting that DIY credit repair can be a challenging and time-consuming process. You may also lack the expertise to build a strong case for disputing inaccurate judgments. In such a case, a credit repair expert like Credit Glory can simplify the process for you. They have experience dealing with credit bureaus and debt collectors and can identify and dispute errors on your credit report. This saves you time and hassle.

The Importance of Disputing Inaccurate Judgments

Inaccurate judgments on your credit report can significantly impact your financial prospects, making it vital to remove them. Disputing errors on your credit report, including judgments, can help get your financial life back on track and increase your chances of qualifying for loans, mortgages, and better interest rates.

Although it's possible to dispute errors yourself, it can be time-consuming and complicated. Enlisting the help of a credit repair expert like Credit Glory can simplify the process for you, allowing you to build a strong case for disputing inaccurate judgments.

Why Choose Credit Glory over DIY Credit Repair?

Repairing your credit can be a daunting task, and errors during the dispute process can result in further harm to your credit score. In contrast, selecting a credit repair professional like Credit Glory can be a straightforward and more efficient solution.

Credit Glory's team of experts can assist you in disputing and removing inaccurate collections and errors from your credit report, ultimately raising your credit score and saving money on loans and interest rates. Credit Glory prioritizes top-notch customer support and offers a 100% money-back guarantee.

This simpler and more hassle-free approach to credit repair can save you time, stress, and money. Get started with Credit Glory today by setting up a consultation or calling us.