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Question concerning old judgment

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Sooner54
New Member

Question concerning old judgment

This forum has been extremely helpful as I have been working to repair my credit. I was successful in securing 4 PFDs, leaving only one 4 year old collection on one report, so many thanks.

 

My question concerns a judgment against in 2005. The judgment had fallen off of my reports but I had to satiasfy the judgment recently. The reason I took this step was not credit related but instead  to demonstrate that I do not shirk financial/judicial responsibility (I am sitting for the bar this year). 

 

My my fear is that when the creditor files the satisfaction that the court will then report a satisfied judgment to the cras and I will have a public record again. Anyone have any thoughts?

Message 1 of 5
4 REPLIES 4
guiness56
Epic Contributor

Re: Question concerning old judgment

Hi and welcome to the forums.

 

First, congrats on your successes.

 

Since a judgment reports for 7 years from the filing date or the governing laws of your state, even though you recently satisifed it, it should not come back. 

 

If they were going to use your state SOL I don't think it would have been removed already.

Message 2 of 5
RobertEG
Legendary Contributor

Re: Question concerning old judgment

+1

Additionally, courts dont report to the CRAs.

They post their public records, and the CRAs employ their own internal searches of public recordd to supplement and complete their files.

 

If a public record search conducted by a CRA locates the judgment or any information related thereto, FCRA 605(a) prevents them from including that information in any credit report they issue after 7 years from the date the judgment was issued.  No, it wont reappear in your credit report.

 

However, any party can do a public records search.  I dont know if your board of bar examiners does a routine public records search as part of their process, but if they do, they would be able to locate that information without reliance on showing in your credit report.

 

Make sure that the creditor reports the satisfaction to the court, and that it has been posted.

That will at least show satisfaction of the debt.

Message 3 of 5
Sooner54
New Member

Re: Question concerning old judgment

Thanks for the responses. I disclosed the judgment to the board and have included the satsfaction in my app. I am glad to hear that this will not revive any reporting of the judgment as I can almost see a light at the end of the credit tunnel.

Message 4 of 5
RobertEG
Legendary Contributor

Re: Question concerning old judgment

The only situation where payment of the debt effects credit report exclusion of the adverse information is tax liens.

The seven year exclusion period for tax liens does not begin until the lien is paid.

Message 5 of 5
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