For people who think they are in a bad financial position and want to remove judgment from their credit report, a “Sample Letter to Remove Judgment from Credit Report” is a very good option. It will provide a clear outline of what has been due and how much the debtor is required to pay. It will also show if the judgment is valid and whether the defendant is willing to negotiate about it. If the defendant is not willing to negotiate, then this option should not be used as it will simply leave a judgment on the debtor’s file and will remain there for up to ten years.
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If you have a judgment against you, this can be difficult to prove. This is because credit-reporting bureaus do not carry out a standard check on the financial situation of the judgment debtor. However, if your debtor files for bankruptcy protection, the bankruptcy trustee will order a copy of the judgment debtor’s credit file. The next time you apply for a loan or mortgage, you will need to show proof that you are not the judgment debtor.
A “Sample Letter to Remove Judgment from Credit Report” can be used as evidence to show that you are not the judgment debtor. Once the credit bureaus to get hold of these letters, they check them carefully and if anything in the letter looks unusual they are obliged to remove the entry. The original entry was made three years ago when the debtor was not living in the US and therefore there is no record of judgment ever having been awarded. However, there is still a copy of the credit file that they keep on file, which shows that they are aware of your situation and have carried out an investigation to determine whether you are to blame for the situation you are in.
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This letter provides details of what has been due from both parties and will generally contain a schedule of monthly payments, interest rates, a breakdown of the amount due, and the amounts involved in the payment plan. The debtor should be sure to include all relevant information in this letter, including dates, amounts due, and names of any witnesses, which should also be included. The credit bureaus need to know exactly what has happened so that they can take action.
The next stage is to argue why the debt should not be discharged by the credit reporting agencies. This can be done through a motion to dismiss, which can be brought at any point along the lines of the Fair Debt Collection Practices Act. It is possible for a debtor to pursue this through the courts, but the judgment debtor must be careful to keep records of any court proceedings as they could be damaging to their case. If you were the judgment debtor, you should seek legal advice to help in preparing for your motion to dismiss.
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Once the letter is received into the credit file it is checked against the entries already there. If anything new is found, either in the creditor’s or debtor’s side of the story, a new entry will be recorded in the report. The amount due should also be noted and the original debt paid off. The credit bureaus are legally bound to remove negative entries from your credit file, and most will do so within a month of the entry being made. However, there are some that may take longer. All disputes that are not resolved within this time should be referred to the credit bureau’s dispute resolution procedure.
If a credit agency does not remove an entry, the letter will then be sent to the bureau. Again, if there is a denial, the letter must be further investigated to see if the balance is indeed accurate. It is then up to the debtor to either dispute the claim or choose not to pursue it further. If a payment is being made, the letter should be sent to the creditor to arrange for the payment to be made directly to the debtor. This would prevent the creditor from continuing to pursue the matter and would make it much simpler for the credit file to be cleaned out.
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If you think you have been a judgment debtor and want to know how you can remove it, then a sample credit dispute letter should help. It is important to ensure that the letter contains all the relevant information required by the credit bureaus. This information can include what the judgment is, why the judgment is in effect, and what payments have been missed. A good letter will also provide details on what steps the debtor plans to take to resolve the issue.
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