Bankruptcy and Judgements?

[MarvBear]

If a person filed for chapter 7 bk protection and included three judgments as part of the bankruptcy, how should those judgments report to one's credit file?

 

How long should these judgments stay on one's credit file?

[VintageWillow]

I wasn't able to find the exact answer, but here is some discussion on that:

 

https://creditboards.com/forums/index.php?showtopic=302781

[pjmaxwellian]

Judgments stay for 7 years. BK'd judgments should update to 'satisfied' unless the judgment has been dismissed or vacated. If dismissed or vacated, it can be removed from CRs.

[MarvBear]

So a judgement that was dismissed in a chapter 7 bk should be removed from the credit file? Did I understand that correctly

 

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[pjmaxwellian]

Including a judgment in BK does not automatically make it dismissed, only satisfied. Depending on the state, there are different procedures (and grounds) to file a motion for dismissal. If the judgment has been dismissed, it should be a straightforward procedure to have it removed. I say 'should be' because anything with the CRAs can be a wrestling match.

 

I'm not a legal expert, Marv, but I did BK a judgment 3 years ago. Took me a couple of months to get my dismissed judgment off my reports. You might want to check on the fine points of this with the legal experts.

Edited October 1, 2015 by pjmaxwellian

[MarvBear]

Does not say dismissed. Says satisfied judgment. Comments say IIB

 

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[pjmaxwellian]

Does not say dismissed. Says satisfied judgment. Comments say IIB

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That is the correct way a BK'd judgment should read. In that case, it should remain on the CR 7 years from the Judgment filing date, not the BK filing date. To get it removed sooner, it has to be dismissed or vacated.

[MarvBear]

My friend sends you their utmost thanks. The judgements were filed prior to the BK filing date.

 

I appreciate your help. and just wanted some confirmation that I was on the right path with him.