Can Prevailer Of Civil Suit Have Judgment Removed From Credit Report?
If I pay the prevailing pary what I owe, does that party have the power to get the judgment removed from my credit report? I know a receipt of payment in full can be submitted to the credit bureaus and it will show paid. But who has to send them the copy of the receipt, me or the person I owed the money to and paid?
Also, I read in the California statutes somewhere, that only the person to whom to judgment is owed, can have it take off the payers credit report.
Anyone know if and how this is done other than just paying her and getting a receipt? Thanksomuch.
Your receipt for paying a J is a document in recordable form called a satisfaction. If the creditor refuses to give you one, pay instead into the registry of the court, which will issue one.
Once recorded in the official records book of the county, the judgment will be picked up by Nolan/Dolan/Lexis/Nexis (www.banko.com) as paid and will propagate to the CRAs.
Don't send your satisfaction to the CRAs just to make the paid listing happen quicker unless you're in a real hurry, as it makes the paid J more difficult to dispute off later.
The data is appreciated. I am in a hurry and won't be disputing the judgment later as I do owe it.
Thank you!
Now if I pay the judgment and hold onto the satisfaction, then dispute the address, which is only shown once on my report as it was an interim address, then after the address falls off my report, I then later dispute the judgment, isn't the creditor and issuing court notified of the dispute? Then all they have to do is reconfirm it and it stays on my report anyway - or they put it back on later if they don't respond within the 30 days?
keep your reciept for life. they should be most likely not......km
My creditor wants to help me as we are now on good terms. If I pay the judgment to the creditor and hold on to the satisfaction, and then I dispute the judgment, who do the Credit bureaus report the dispute to? Is it the creditor only or to the court as well? I assume the court? What I'm thinking is that if they only investigate by contact to the creditor, all the creditor need to is not repond right? Then they have to remove the judgment from my report? Or do they contact the court to investigate as well?
Thanks.
Neither court nor creditor is contacted. It's checked electronically against a national database created by hundreds of grandmotherly types in tennis shoes with laptops who pore through court records daily and feed the results to Lexis/Nexis. If there are no other points of coincidence other than you're name, that TL is most likely going to go away for good.
I got the full picture. Great. I can pay the judgement AND get it off my report this way. This is justice. Thanks, you may have saved my credit future.