Judgment on credit report...Estimated to come off

[bnw12186]

My husband and I are hoping to buy a home soon, the only thing stopping us is the judgment on his credit report. His credit report says that it is estimated to be removed 03/2014. However, we have never had to deal with this before and just don't know what to expect.

Will it be removed in March?

[shanes76]

IM guessing if it says it will be removed then, then it will drop off. I had a few judgments on mine, but they never had a drop off date, I just kept disputing until they finally came off. May wanna check in March and if its still there dispute as obsolete maybe

[shifter]

I would try dispute as obsolete today.

[CG in TX]

Disputing this as obsolete is liable to have serious unintended consequences. If the judgment is scheduled to fall of in another month, let it fall off on it's own. It all depends on how the CRA verifies the data...if they contact the creditor, it will alert them that you are trying to do something positive with your credit. You really don't want a sudden garnishment to hit you.

[robjane58]

Is the judgement paid? The title company will search for any unpaid judgements during the mortgage process.

[shifter]

Is the judgement paid? The title company will search for any unpaid judgements during the mortgage process.

exactly. if it's paid, dispute as obsolete. if it's unpaid, you have a much bigger problem.

[bnw12186]

It is not paid. It's from a repossession on a vehicle from 2007 I think? Totals like 12 thousand something after court costs and everything. He made a deal with the company that he would turn the tags in and not drive it, so he wouldn't have to pay insurance, and he could afford his payment. They said that was fine & then a while later, came to reposes the vehicle. But he has no proof of where they said that, so it doesn't help. We applied for preapproval in November of 2013 and everything was great, except for this. They said after it comes off, we should be ready & told us to just wait until it falls off his credit.

 

 

 

Is the judgement paid? The title company will search for any unpaid judgements during the mortgage process.

exactly. if it's paid, dispute as obsolete. if it's unpaid, you have a much bigger problem.

 

[Cozmo]

The only logical reason I can think of for your lender waiting for it to fall off would be if you are in a state where the SOL on a judgment is 7 years without the possibility of renewal. What state are you in?

[bnw12186]

North Carolina