Home > Research Legal Advice > Debt Collection > When will a small claims judgment appear on my credit report?
Asked 8 months ago - Jersey City, NJ
FlagI lost a small claims case about 5 months ago. I havent paid it yet and so far, the judgment hasnt appeared on my credit report. If I pay now, Is it too late to have the judgment vacated? I have heard that if the judgment does appear, it will harm my credit regardless of whether it's shown as paid or not. That being said, what incentive is there to pay the judgment in a timely manner? Why not just make the plaintiff levy my bank account or file a property lien?
I agree.A judgement can definitely affect your credit.Additionally,if you have the oppurtunity to settle it,I would reccomend that you do with the assistance of counsel.If you force the creditor to take enforcement action you may have the costs of that enforcement added to the judgement.Plus,you should remember that enforcement may come on the creditor's timetable and with relativelly little notice.If you can approach the creditor through counsel you may be able to pay off the judgement at a compromised amount especially if it is a small claims action.As stated above,make sure any settlement results in the judgement being marked satisfied or withdrawn.
If there is a judgment, then paying it does not vacate the judgment, rather, the judgment will be shown as satisfied, should it be reported on your credit report.
It is possible that the creditor does not know how to collect the judgment, and that is why it is not showing up yet.
The incentive for paying it off at this time, appears to be that there may be no record of it on your credit, so no news is good news, as it applies to derogatory credit remarks.
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