credit report virginia
credit report virginia
How long does a judgement stay on your credit report in Virginia?
I have a judgement from 2001. I paid the judgement and it is showing on my credit report as satisfied with a $O balance. I thought judgements are removed after 7 years.
According to the FCRA rules, judgments remain on a persons credit report for 7 years from the date of payment of the judgment. It is not like the regular time period for past due debts.
Now if you paid it in 2001, then you should send proof to the CRA’s and ask it to be removed (they do sometimes overlook things).
Hope this answers your question
EDIT: I did make a boo boo, I was looking at the rules regarding the three kinds of public records that may appear on your credit report:
tax liens,
financial judgments,
bankruptcies.
Paid tax liens will remain for seven years from the paid date, even though it may mean the item remains for longer than 15 years total.
Financial judgments – if you are sued and lose, for example remain for seven years from the filing date.
And yes I did use the FCRA as it pertains to what the person asked. The FDCPA only applies to debt collectors NOT what the rules and regulations are for credit reporting agencies.
Reference:
TITLE 15–COMMERCE AND TRADE
CHAPTER 41–CONSUMER CREDIT PROTECTION
SUBCHAPTER III–CREDIT REPORTING AGENCIES
Sec. 1681c. Requirements relating to information contained in consumer reports
TITLE 15–COMMERCE AND TRADE
CHAPTER 41–CONSUMER CREDIT PROTECTION
SUBCHAPTER III–CREDIT REPORTING AGENCIES
Sec. 1681c. Requirements relating to information contained in consumer reports
Except as authorized under subsection (b) of this section, no
consumer reporting agency may make any consumer report containing any of the following items of information:
3) Paid tax liens which, from date of payment, antedate the report by more than seven years.
AND I DO READ MY SOURCES, maybe some people can’t comprehend what they read!
NEW EDIT: Now you can see why lawyers charge so much, everybody can make a goof what with all the stupid wording, meanings, definitions and not to mention time spend trying to find the answers.
Hey everybody makes a good up if we didn’t we would all be out of debt and happy and wouldn’t need to ask ??? about debt.
