A judgment is an official result of a lawsuit in court. In debt collection lawsuits, the judge may award the creditor or debt collector a judgment against you. You are likely to have a judgment entered against you for the amount claimed in the lawsuit if you choose to ignore the lawsuit or don’t respond to the lawsuit in a timely manner. If a judgment is entered against you, a debt collector may have stronger tools to collect the debt from you. Some of those tools include wage or bank accounts garnishments, as well as putting a lien on your home. The judge may also award additional fees against you to cover collection costs, interest, and possible attorney fees.
A wage or bank account garnishment is when a creditor or collector takes a portion of your paycheck or money from your bank account to collect a debt.
Know that a judgment can also be disputed from your credit report as well as the account you are being sued for. A judgment, like any other collection account can stay in your credit report for up to 7 years. Judgments greatly impact your chance of obtaining a loan, qualifying for a home or vehicle, and it could even prevent you from getting a job.
If you have been sued and you never went to court or send a response, you may very well have a judgment reporting in your credit report and you many not even know it. If you are unsure or do not know how to look at that information, please feel free to contact us. We will not only help you pull your report and see if a judgment is reporting or not, but we will also help you with the judgment itself.
Call us now at 844-349-8727 to schedule your FREE Credit Consultation or stop by our office at 6416 Gateway Blvd East El Paso, TX 79905.
We can definitely help with each and EVERY situation, please give us a call at 844-FIX-URCR or http://bit.ly/csaelpappt to schedule your FREE consultation!
*Individual results may vary. Please call for more details and to discuss your own individual situation.