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Judgments stay on for 7 years from the date that the lawsuit was filed.
Some states have fair credit reporting statutes that benefit consumers more than the federal FCRA--like NY, where paid judgments only report for 5 years from the date the lawsuit was filed. But I think NJ is just the standard 7 year reporting rule.
Neither of the SOL's matter in terms of reporting--not the SOL for how long they can sue you for the debt, or the SOL for how long they can use certain remedies for collecting on the judgment.
Hard to say. If it's your only judgment, then you could see a significant increase.
But keep in mind, right now you are "bucketed" with other people who have one (or more) judgments. That means that your credit information is compared with people who are similarly situated to you, and you compare well against them.
Once you have no judgments reporting, you are re-bucketed with other people who have no judgments. Their credit will generally be better than the people who did have judgments. So the question is how well will you stack up with them?
It's possible, therefore, that your score could go down. In any bucket, most of us are in the middle, and a few are at the bottom, and a few are at the top. Whatever ding you take on the re-bucketing, will gradually lessen as you build your good history.
Someone files a lawsuit/judgement against you.
You go to court.
You win. They lose. They owe you money because you countersued and won.
How do you get that off the credit report?
How do you make sure your judgement (that you won) ends up on their credit report?
@IOBA wrote:Someone files a lawsuit/judgement against you.
You go to court.
You win. They lose. They owe you money because you countersued and won.
How do you get that off the credit report?
How do you make sure your judgement (that you won) ends up on their credit report?
Their judgment won't be removed until it is vacated. Was it vacated? Do you have or can you get a copy of the order vacating the judgment? If it is still reporting and you have a copy of the court order vacating it file a dispute and send the court order along. If you do not have a copy of the court order do not dispute.
Your judgment will be reported on their CBR'a automatically when it is picked up by one of the services that scan court records for that information.
Sounds more like the judgment never existed, so it should be a matter of sending in the docket sheet to show that the judgment was against the other side. And a copy of the order that shows the outcome.
If IOBA was appealing a judgment that would be one thing, or even if there ever was a judgment in the first place. But this sounds like the plaintiff filed, IOBA counter-sued and won. In that case, there never was a judgment except in favor of IOBA. Probably can't make sure that the judgment against the other person does report, but there definitely should not be a judgment against IOBA reporting.
@Anonymous wrote:Sounds more like the judgment never existed, so it should be a matter of sending in the docket sheet to show that the judgment was against the other side. And a copy of the order that shows the outcome.
If IOBA was appealing a judgment that would be one thing, or even if there ever was a judgment in the first place. But this sounds like the plaintiff filed, IOBA counter-sued and won. In that case, there never was a judgment except in favor of IOBA. Probably can't make sure that the judgment against the other person does report, but there definitely should not be a judgment against IOBA reporting.
Only IOBA can post and clarify her issue.
A judgment was entered in the court's computer and picked up by the CRB's bot's. How else did it get there? As far as the CRB's are concerned it is valid. Getting it removed will require a document and/or action from the court. A CB dispute should not do it in the absence of proof.
My suspicion is that it's just laziness on the part of whatever company is scanning the court records.
They see plaintiff v. defendant, and that there was a judgment at the bottom the docket. Didn't check to see who the judgment was against, probably because it's so rare for the judgment in these creditor/debtor kinds of cases to go against the plaintiff. Dismissals are more common, but to actually get a $$ judgment against a plaintiff is highly unusual.
Sending in the docket sheet, making sure the docket number/civil action number exactly matches what is on the credit reports, along with a copy of the judgment court order should do the trick. If they don't accept that, then they really just don't care.