I defaulted on a student loan about 7 years ago and they got a judgment against me for 4k. This is a NJ higher educational loan for 4k. Despite this judgement, and having my state tax returns garnished, I never had it appear as public record on any of my credit reports from all 3 credit agencies. The actual debt itself, will fall off my reports in the next few months. Will this affect my ability to get a mortgage given it will have fallen off my credit reports and does not show as a public record?
I know the judgment can be renewed and the statute of limitations in NJ is 10 years for this specific debt but they already got a judgment 6 years ago and their means of collecting is via state tax garnishment. I don't live in NJ anymore, thus no more state tax garnishment and the debt will fall off all 3 reports in a few months. I just want to know if banks when applying for mortgage applications will have a way to see this if it no longer exists on credit reports and doesn't appear as a public collection. If it matters, NJ higher education loans are not federal loans.
I'm sorry that I can't help either. I do know that if you are borrowing a significant amount of money (I think it's 150k+), lenders can request a complete credit history (which means your whole history, not just the past 7 years), but I don't know if that will entail additional sources that will show your judgement or not.