Author Topic: How and when is a judgment reported to credit bureaus?  (Read 2081 times)

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Crimzone

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How and when is a judgment reported to credit bureaus?
« on: April 02, 2012 03:07:43 AM »
I lost a civil lawsuit about a year ago, and received a five-figure judgment against me at that time.

One year later, the judgment still does not appear on any of my three credit reports. 

When does the creditor send notice of the judgment to the credit bureaus? Is it required that the creditor do this?

I have been summoned to a debtor's exam by a different attorney than the firm used in the original lawsuit. Is it possible that the judgment will appear on credit reports at this time (as creditor is only now attempting to collect)?

This was over a personal matter between two individuals, not involving any company.

It was a complicated case (file is four inches thick), took nearly a year, and the plaintiff's attorney soon left the firm after the judgment decision. Because of this, I am wondering if the absence of judgment on the credit reports could be an oversight or result of the lawyer's departure from the firm before filing.

I found mentions on other boards of missing judgment info on credit reports. Also one comment about believing credit reporting being involuntary.

Anybody know, I'd appreciate it.


deepkimchee

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Re: How and when is a judgment reported to credit bureaus?
« Reply #1 on: April 02, 2012 07:54:21 AM »
If this suit was between two private individuals and didn't include a company, it doesn't surprise me it is not on a credit report. 

My guess is that the main reason companies report, is just corporate protocol.  Somebody out there please correct me if I am wrong, and explain the real benefit of reporting.

I have a unpaid judgement against my ex, that I never reported. 

I don't see the benefit of going through the hassle of reporting, other than to ding his already thrashed credit.
I refuse to let a piece of paper intimidate me

My statements are educated/non-educated guesses, not legal advice

Crimzone

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Re: How and when is a judgment reported to credit bureaus?
« Reply #2 on: April 02, 2012 06:05:47 PM »
Thanks Deepkimchee.

I don't know the benefit of reporting either, now that you mention it -- with the exception of, as you say dinging credit out of spite.


CleaningUp

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Re: How and when is a judgment reported to credit bureaus?
« Reply #3 on: April 02, 2012 06:08:24 PM »
Credit reporting agencies have contractors that review court records for judgments. 

Reporting has nothing to do with who files the suit or why.

Poster should count himself lucky that it hasn't appeared. 

kevinmanheim

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Re: How and when is a judgment reported to credit bureaus?
« Reply #4 on: April 02, 2012 06:18:41 PM »
Credit reporting agencies have contractors that review court records for judgments. 

Reporting has nothing to do with who files the suit or why.

Poster should count himself lucky that it hasn't appeared.
+1

The contractors report the judgment info to the CRAs.

For the CRA to match the judgment with a debtor's credit report, a couple of data points must be matched. If the CRA isn't able to match the judgment debtor with a credit report, the judgment may not appear on the debtor's report.

The plaintiff may spell the debtor's name wrong when filing, or the court may have the wrong address for the debtor. Mistakes like this will prevent the CRAs from matching and reporting.


deepkimchee

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Re: How and when is a judgment reported to credit bureaus?
« Reply #5 on: April 02, 2012 06:28:30 PM »
I have a five figure judgment against my company and me.  Myself as a personal guarantor.  This judgment was entered a year ago and there is nothing on my credit report.

How long does it usually take to show up?

Is there any timeline by law that they have to do this?
I refuse to let a piece of paper intimidate me

My statements are educated/non-educated guesses, not legal advice

kevinmanheim

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Re: How and when is a judgment reported to credit bureaus?
« Reply #6 on: April 02, 2012 06:30:57 PM »
I have a five figure judgment against my company and me.  Myself as a personal guarantor.  This judgment was entered a year ago and there is nothing on my credit report.

How long does it usually take to show up?

Is there any timeline by law that they have to do this?
If it was going to appear, it would have done so by now.

The CRAs scrape the court databases on a regular basis.


Crimzone

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Re: How and when is a judgment reported to credit bureaus?
« Reply #7 on: April 02, 2012 09:24:18 PM »
Thanks for that great information.

Indeed, I have a different address and my ex-husband managed to spell my name wrong. I'm fairly sure I have a credit card judgment too (never served) with a wrong address.

So now the final frontier is getting through the debtor examination.
« Last Edit: April 03, 2012 09:35:38 PM by Admin3496 »

KFMAN

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Re: How and when is a judgment reported to credit bureaus?
« Reply #8 on: April 02, 2012 09:27:02 PM »
Just remember, FDCPA also covers judgments, so remember that when you receive a collection letter about this issue.

deepkimchee

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Re: How and when is a judgment reported to credit bureaus?
« Reply #9 on: April 02, 2012 11:17:38 PM »
With FDCPA covering judgments, does FDCPA apply to me as well.

Judgment against my corp and me, because I personally guaranteed it.
I refuse to let a piece of paper intimidate me

My statements are educated/non-educated guesses, not legal advice

Crimzone

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Re: How and when is a judgment reported to credit bureaus?
« Reply #10 on: April 03, 2012 12:24:42 AM »
Does the FDCPA communicate with the CRAs regarding judgments?

Fighting Irish

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Re: How and when is a judgment reported to credit bureaus?
« Reply #11 on: April 03, 2012 12:27:02 AM »
The FDCPA doesn't "communicate" with anyone; it's a law, not an entity.
Dang it, Jim! I'm a nurse, not an attorney!

(The rest of you, keep that in mind, too.)

Crimzone

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Re: How and when is a judgment reported to credit bureaus?
« Reply #12 on: April 03, 2012 03:53:47 PM »
Thanks -- I obviously have some reading to do.

ladygarner

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