topic Re: Cap One Judgment...Help Please! in Rebuilding Your Credit

Cap One Judgment...Help Please!

Anonymous — Wed, 11 Apr 2012 20:51:17 GMT

I'm new here but I've read thousands of responses on here. This forum is so helpful. Here's the deal. My husband and I want to buy a house next summer. Our 3 little girls would love to be in a home and so I'm trying whatever I need to do to get them one. My husband has a Capitol One judgment dated Nov. 2005. I don't ever really remember getting anything on it. Through all the stuff I've read I'm confused about whether this will come off this Nov. Or not. Will we still need to take care of it before we go to buy a home or does it not matter because it's coming off. By the way I live in Ohio if that helps and the amount was for about $535. Thanks.

Re: Cap One Judgment...Help Please!

pizzadude — Wed, 11 Apr 2012 20:55:09 GMT

@Anonymous wrote:
I'm new here but I've read thousands of responses on here. This forum is so helpful. Here's the deal. My husband and I want to buy a house next summer. Our 3 little girls would love to be in a home and so I'm trying whatever I need to do to get them one. My husband has a Capitol One judgment dated Nov. 2005. I don't ever really remember getting anything on it. Through all the stuff I've read I'm confused about whether this will come off this Nov. Or not. Will we still need to take care of it before we go to buy a home or does it not matter because it's coming off. By the way I live in Ohio if that helps and the amount was for about $535. Thanks.

I believe that Judgements will report for 7 years from the date they were issued, so hopefully it will drop later this year. However you should check into your state's statutes regarding renewing judgements, in some cases they can be renewed by the plantiff.

Re: Cap One Judgment...Help Please!

RobertEG — Wed, 11 Apr 2012 22:57:29 GMT

FCRA 605(a)(2):

"Civil suits, civil judgments, and records of arrest that from date of entry, antedate the report by more than seven years..."

However, make sure the judgment was not renewed.

Additionally, credit report exclusion does not necessarily ensure that a potential creditor wont be made aware of an unsatisfied judgment.

If they ask whether you have any unpaid, delinquent debt, your answer would be.......no, because it is not now included in your credit report?

Re: Cap One Judgment...Help Please!

Anonymous — Thu, 12 Apr 2012 01:44:53 GMT

Would they have to renew before November?

Thanks for the info. I'm gonna keep an eye on it and hope for the best. I wonder how much it would improve his fico score.

Re: Cap One Judgment...Help Please!

pizzadude — Thu, 12 Apr 2012 02:15:06 GMT

@Anonymous wrote:
Would they have to renew before November?

Thanks for the info. I'm gonna keep an eye on it and hope for the best. I wonder how much it would improve his fico score.

The laws governing judgements and the renewing of them vary with each state, so you will need to look at the specifics for your state in order to know how it works.