How long does a judgement stay on your credit report in Virginia?

Question

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.

Answer 1

From the Fair Debt Collections Act:

"(2) Civil suits, civil judgments, and records of arrest that from date of entry, antedate the report by more than seven years or until the governing statute of limitations has expired, whichever is the longer period."

I don't see anywhere in this that says it starts from the date of payment.  Please don't quote sources that you don't even bother to read yourself...it makes you look foolish.

This should drop off after 7 years.....which you are already in.  You need to verify the month.

Be patient...you did your time.  It will come off shortly.

Edited:  

Sarge is correct....this was from the Fair Credit Reporting Act..I goofed.

The reporting period starts from the date of the judgment, not the filing date.  Sarge goofed.  lol!

Way too many technicalities!!!

Answer 2

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.