I have a judgment against me from Capital one. This may be a dumb question but what does that mean exactly and how does that impact my credit? the judgment is 3 years old, does that follow the same SOL as credit card companies or collection accounts? I think here in VA it is 5 years. thanks! Will it fall off after 7 years?
A judgement in VA is valid for 10 years and can be re-newed for another 10 years if renewed with 6 months prior to expiration. Means if they wanted to they can garnish wages, bank accounts etc with an appropriate court order(easily gotten).
This needs to be dealt with - will have to be paid to obtain a mortgage. It is hurting your score a lot.
will remain 7 years from filing if unpaid....not sure about paid (worst case 7 years from payment). It's the 3-13 years after it comes off if unpaid (and you forget about it) that can be 'troublesome.
Yikes! glad I asked. This has opened up more questions too. I have 2 more judgments on my credit report and I don't know what they are from. It doesn't say. What can I do about it? Can I send a letter of some kind to the court or to the credit agency? also about the cap 1 judgment, they did garnish our bank account or tried to anyway and I was able to get it lifted in court since I don't work and was able to show that the money was my "DH's" and not "mine". I haven't heard from them since. Should I still try to pay? Should I try to offer them a lower amount (it's a lot of $$, well to us anyway)? Thanks!
Starting Score: EX509TU595EQ595