Rebuilding Your Credit

[starry1]

So I had my 341 meeting today and am now making a list of the first baddies I want to clean off my report. The first is a judgment from 2006 in Kansas, which has a five year sol. Do I send a letter to the court clerk first, or dispute with the CRAs?

Also I found a paid collection from Denver parking from 2008. I had no idea this was ever a collection. I dont remember paying a parking ticket late and never got a call or letter from collections. Do you think a gw would help?

Those are the ones that should obviously be gone, I'm hoping most of the rest will sort themselves out after my discharge.

[Barris]

As far as I can tell, you need to check in with the KS court clerk first and find out if the judgment has been renewed. It might be one reason why it is still on your credit report.

[starry1]

Okay, I did include that judgment in my petition, so I'd have to wait five more years after that?

[Barris]

Here is the lowdown: Judgments stay on a credit report for the usual 7 years from the date of entry. An unsatisfied judgment may stay on your credit report longer than 7 years if your state's legislation allows it. Renewed unsatisfied judgments would show on your credit report for 7 years from the date of renewal. Unsatisfied discharged judgments would again have a shelf life of 7 years.

[RobertEG]

FCRA 605(a)(2) is couched in alternative language, with the 7 year period from entry of the judgment being one of the alternatives, and expiration of any state statute of limitations on the judgment being the other.  The determing period is the longer of the two.