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New york 5year reporting period


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i know that under new york state law paid debt can only be reported for 5years. I was wondering are their other states that have a 5year or less reporting period on paid debt?

Thx

playmaker

So if you pay the debt after 5 years you should be able to get it removed with no problem?

Does this include settling?

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What teh law does is force the CRA to review the file at the 5 yr mark and remove any paid judgments. So, if you get a judgment on Monday, pay it on Tuesday. ti should be removed no later than 5 yrs from Monday.

CAs and CRAs will argue it can stay on your report for 5 yrs. I have argued you should get it off anytime you ask within the 5 yr period. If anyone has such a situation, I'd be happy to make the argument in court.

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  • 4 weeks later...

Hi

I have a judgment on my credit report. I would like to have it removed but the CRA has verified each time.

Do you think it would be a good idea to go the court and request a letter of satisfaction? Maybe when the CRA sees this they would decide to remove. :

:(:(

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lady, it applies to paid judgments. If you have a judgment on your record, you have a judgmetn on your record. If you have paid it, a satisfcation piece should be recorded and the judgment will show in teh courthouse as satisified. Get a certified transcript from the COunty CLerk ( get several for the various CRAs) and demand they remove it. check your CR 45-60 days thereafter. Apply for credit and see if the paid judgment affects you. Then, let's talk.

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