What Does It Mean To Have A Judgment On Your Report?

There are still people who have not fully grasped the meaning of having a judgment on your credit report. Anyone who does not fully understand this situation can find him/herself in very serious crises.

A judgment on credit is simple a court decision favorable to the initiator of the suit(a judgment creditor) asking you the defendant to pay the debt owed by you. From this judgment, it is believed that you owe the creditor certain amount of money and have to be ordered by the court to pay it.

What Effect Does This Have?

When and if a judgment is given, the biggest consequence is its impact on your credit report. Many people have this judgment on their credit report for up to 7 years. This is mostly because they did not take the right steps. This has a very bad effect on your credit score. Even after settling the debt, many people still have the judgment on their report for years.

A Judgment can sometimes include an order to Garnish your wages.

A Garnished wage is a wage which due to a court order the employer is required to hold back part of it to pay of the employees debt. Up to 60% of ones wages can be legally withheld in many states. I am sure that if not for Federal Government limits, some people could have their wages garnished for more than %60 which is the highest percentage allowed.

When a person has a judgment on their credit report, it can mark the beginning of serious financial problems arising from their declining credit scores and if you were to add a wage garnishment to it, you would see that it is not the best position to be in. Unfortunately, it is widely believed that this situation is one that you would have to live with until the expiration of seven years.

Anyone who has received a judgment on his/her credit report and therefore has by implication experienced a drop in their credit score is not necessarily to be pitied. The on to really be pitied is the one who resigns him/herself to suffer this condition without so much as lifting a finger to dig a way out. Are you saying you do not know what to do? You can have help now.

Lexington law can help you sort this issues out. All you have to do is call their toll free number 1-866-246-7311. This simple act can be the beginning of the end of your financial woes.

For prompt resolution of your credit issues, credit report disputes and removal of judgment on your report, call our toll free number 1-866-246-7311.
You can also more information on Judgment On Credit.
Work with Reviews Of Lexington Law who are experts and can deliver great service.

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