Credit Cards Center Credit cards from our partners
Reply
New Contributor
Posts: 66
Registered: ‎02-15-2010
0

Agreed Judgment

Is an agreed judgment going to show up on my credit reports? Who actually reports judgments to the credit reports and how are they added? Any info would be appreciated as I am trying to get as much info as possible.

Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
0

Re: Agreed Judgment


nashfm wrote:

Is an agreed judgment going to show up on my credit reports? Who actually reports judgments to the credit reports and how are they added? Any info would be appreciated as I am trying to get as much info as possible.


 

Do you mean a "stipulated" judgment?  Many times a creditor will accept a stipulated judgment when you have entered into a payment plan.  This means that if you do not pay off the debt as agreed, they automatically get a judgment against you with no further court action -- and that you cannot later contest.

 

A stipulated judgment will not hit your credit report as it doesn't become a judgment until you have failed to pay as agreed.  If you pay, the stipulated judgment dies.  If you do not pay, it becomes a judgment and can appear on your credit report.

IAALBNYL
New Contributor
Posts: 66
Registered: ‎02-15-2010
0

Re: Agreed Judgment

The term they used was agreed judgement. What I am wanting is a payment agreement that is not gonna be filed as a judgment unless I default on the agreement. I need to know what those terms are or what type of agreement can be used. Is a stipulated judgment common? I live in Texas and would like to know what can be signed to agree to a payment plan, and only if I default will a judgment show on my credit report.. What are your suggestions. I know they are going to want something in writing as the SOL will expire soon and they want to cover themselves as well. From what I have read an agreed judgement is just a good as a judgement in court.

The lender stated today that the agreed judgement would be signed by a judge but they will not file public record on it unless I default. I just think there is a better agreement. I have read numerous posts on people signing a agreed or consent judgment with payment arrangements and it shows up on their credit report. This would be of no benefit for me to sign if its gonna be a judgement on my report. Thanks O6 for all of your knowledge.

Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
0

Re: Agreed Judgment


nashfm wrote:

The term they used was agreed judgement. What I am wanting is a payment agreement that is not gonna be filed as a judgment unless I default on the agreement. I need to know what those terms are or what type of agreement can be used. Is a stipulated judgment common? I live in Texas and would like to know what can be signed to agree to a payment plan, and only if I default will a judgment show on my credit report.. What are your suggestions. I know they are going to want something in writing as the SOL will expire soon and they want to cover themselves as well. From what I have read an agreed judgement is just a good as a judgement in court.

The lender stated today that the agreed judgement would be signed by a judge but they will not file public record on it unless I default. I just think there is a better agreement. I have read numerous posts on people signing a agreed or consent judgment with payment arrangements and it shows up on their credit report. This would be of no benefit for me to sign if its gonna be a judgement on my report. Thanks O6 for all of your knowledge.


 

What they are offering you is what we'd usually term a stipulated judgment. 

 

Generally the way it works is that you agree to a stipulated judgment and that stipulation does not, in fact, become a judgment unless you default under the payment terms.  Once you complete the terms of any payment agreement, the creditor then files a motion to dismiss their cause of action against you.  If, however, you do not pay as agreed, the court then files a judgment against you without, generally, further notice.  So, it is extremely important that you ensure you can live up to the terms of any payment agreement reached.

 

Since a stipulated judgment is not yet a judgment, it should not be entered in your credit report.  That said, a stipulated judgment is a matter of public record and those whose bs=usiness is to troll public records and report them to the CRAs may do just that.  I would make sure the creditor and the judge are aware of your concerns so that they can refrain from having the stipulated judgment filed with the court clerk.

 

IAALBNYL
Senior Contributor
Posts: 4,196
Registered: ‎03-24-2008
0

Re: Agreed Judgment

How public records find there way on your CR's.

 

There are Data Companies like Lexis Nexis is one of them, they have people who go to the court houses and look thru public

records. Things like judgments and tax liens, I remember they put my 1st divorce on my CR a long time ago, but I don't know

if they do that anymore.  I thought at the time it was unfair, because once a creditor company found out I was divorce I was denied

and that $#@%..

 

The auto insurance I had at the time for 3yrs with no tickets, no accidents no anything I was canceled and  the ex still had insurance

with them. How unfair and gender discrimination that was. I've been married now for 28yrs so I dont know if divorces are still

recorded on a person CR.

 

IMO, I would not believe anyone who says they have control on what goes on the CR or not. Sorry but thats the way I feel, I have 

been around the block a few times, so maybe the years have harden me to trusting people Creditors,insurance companies, the courts

etc. Or maybe its because I have been lied to so many times. I guess they thought I was a risk, that I might be running the roads looking

for a man, NOT. I had just bought a home 3yrs earlier that I was remodeling and a one year old  son,didnt have money for gas for the car.LOL

 

Let me end on a lighter note,lol. I hope the person that comes to the courthouse the day your info is there, is out on vacation somewhere

or just overlooks your records.So I wish you the best in your situation and Good Luck to you.Smiley Wink

FICO's May 2015 EQ764 ~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.