hokiegrl

Judgement almost 7 years old... anything I should worry about

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Hi -

With cleaning up my credit, I have a judgment that will be 7 years old in June.

My understanding is that after 7 years is should drop off my credit so that wouldn't be a concern.... I believe?

If true, is there any other way this judgement could affect me? I was considering buying a house - could they come after that still? Or affect me in some other way?

Your help would be greatly appreciated!!

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The judgment creditor can always renew the judgment OR send you a 1099 C in the mail if they decided the debt is uncollectable. I don't know how credit reporting agencies report judgments nor do I know how long a judgment lasts on your credit report. But at any moment, and without notice, they can garnish your wages, levy your bank account and even place leins on your property. Look up your lists of exemptions for your state and get a financial statement together. Also change banks. You are very easy to trace if you bank at the same bank you did when the judgment came down so many years ago. So at any point in time, they can empty out your account. Be wise and careful. And if you have the means, perhaps you might try to work something out with the judgment creditor otherwise it'll sit and collect interest and you'll get a nasty surprise in the mail one day where they've leined your house!

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