03-20-2013 08:55 AM
A judgment is appearing on by husband's EQ CR. TU and EX show nothing. We were unaware of it until now (trying to refinance).
The court docket has the status of the case as "CLOSED-TERM'D". Does anyone know what that means?
According to the EQ CR - the Date Filed is 5/2006. The Date Reported is "N/A".
Should we just leave this alone? It should be removed 5/2013 - correct? Should we dispute it and ask that EQ update the report as "Closed-Term'd" "?
Any advice is greatly appreciated.
03-20-2013 09:31 AM
Your first step should probably be to contact the court where the judgment was issued to find out exactly what that status means. If in fact it means the judgment is no longer enforceable that will be a big help in your refinance quest. And if that is the case then I would dispute with EQ to show the status appropriately. Any dispute with them is not going to extend the time it continues to report and it might just drop off if they determine it is in fact not enforceable.
You have a valid reason for dispute if the status is not what it should be. Just be careful that you are not awakening a sleeping giant (Whoever holds the judgment) which is why I would find out what the status means beforehand.
03-20-2013 10:12 AM
Thanks for your quick reply!
I just called the court and was told that this means that the case is Closed - Terminated. I didn't ask if it was still enforceable, but I read on another website that if a judgment in Ohio is dormant for 5 years - further action would be needed to reopen it. There hasn't been any activity on the docket since 5/2006.
Am I safe to assume that this is closed? When should I check EQ CR to see if it has been removed? Do they usually delete info at the beginning of the month or end of the month when the 7 years is up? What are the chances of this being removed a few months early?
03-20-2013 10:17 AM
Judgments don't report as closed/terminated. They report as satisfied if they have been paid.
I would call them back and see if it was dismissed. If that is the case it should be deleted.
03-20-2013 11:35 AM - edited 03-20-2013 11:37 AM
Closed/terminated most likely references the termination of whatever action was brought by the plaintiff seeking a judgment.
If it never went to trial and the court does not show award of a judgment, then you have no judgment.
It appears that the reporting of the judgment itself may be in error, as proceedings were termnated prior to award of a judgment.
If that is the case, I would send a dispute to the CRA, contesting the posting of a judgment to your credit report that was never awarded by the court.
They can do their own public record search and confirm that no judgment was actually entered. You dont want the CRA to update a "judgment," you want it deleted as inaccurate in total.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO