@chbartel wrote:I've been reading conflicting information regarding judgments(paid or unpaid) and how long they stay on credit reports. Some are saying they stay on for over 7 years(if 7 years in your state), others say they drop off like any other type of credit...after 7 years. does it matter whether they are paid or not. Paid judgments would be gone at the 7 year mark from date of asking for one, unpaid can remain past 7 years until the governing SOL expires and this time period can be different for each state.
Also, how does judgments affect credit utilization? No I have been cleaning up credit, and am down to two Cap1 judgments I have outstanding. These are judgments but Cap1 is also still reporting the balance. does the balance reported affect my utilization ratio's on credit card debt? Yes COs will affect your util... I have about $14k of available credit(nothing on active cards), but do show about $5k in Cap1 that I am still in middle of negotiating with Cap1/attorney....the judgments themselves are about 3 years old... See about including a motion to vacate once they are paid in your negotiations, if you can get this then they are gone from your CRs and the motion is granted by the judge.
FCRA § 605. Requirements relating to information contained in
consumer reports [15 U.S.C. § 1681c]
(a) Information excluded from consumer reports. Except as authorized under
subsection (b) of this section, no consumer reporting agency may make
any consumer report containing any of the following items of information:
(1) Cases under title 11 [United States Code] or under the Bankruptcy
Act that, from the date of entry of the order for relief or the date of
adjudication, as the case may be, antedate the report by more than 10
years.
(2) Civil suits, civil judgments, and records of arrest that from date
of entry, antedate the report by more than seven years or until the
governing statute of limitations has expired, whichever is the longer
period.
(3) Paid tax liens which, from date of payment, antedate the report by
more than seven years.
(4) Accounts placed for collection or charged to profit and loss which
antedate the report by more than seven years.
(5) Any other adverse item of information, other than records of convictions
of crimes which antedates the report by more than seven years.
