Tuesday, 23 December 2008
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How to Delete a Judgment from Your Credit Report
Debt collectors often resort to filing charges in court. Once judgment has been made, it will reflect on your credit report. But, as with other negative information, you can avoid having a default judgment be entered into and become a nasty record in your credit report by disputing the validity of the judgment or by settling this out of court.
Avoiding a default judgment is not only good for your credit rating; it could also save you the problem of having to wait out the statute of limitations or SOL on judgments. SOL’s on judgments could last up to twelve to twenty years or even longer especially when collection agencies move to renew the judgment before the expiration of the original judgment. Technically, a judgment could follow you for life so you should do everything possible to avoid this being reflected on your credit report in the first place, or risk having judgment hounding you for the rest of your life.
However, if you are among those who already have a judgment on your credit report, there are still ways to have default judgment removed from your credit report. In fact, you can choose from different strategies and options where the most common is by disputing the report or information with the credit bureaus. In fact, any disputed negative information can be removed or deleted from the credit report once it is found to be unverifiable.
Other people send “pay for delete” letters in negotiating with creditors. This way, they can offer an amount in exchange for the approval and subsequent removal of the judgment information from the report. The letter can also be used as a written proof of your formal agreement. Please feel free to visit my top credit repair companies review websites.
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