Re: Paid Judgement
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Posted by Linda (65.120.51.155) on June 07, 2002 at 11:53:06:
In Reply to: Paid Judgement posted by S.D. on June 05, 2002 at 10:22:47:
You can get the court docs to prove that the judgment has been paid/released. And you can send it to the CRA's a they will update. BUT, keep in mind that if you do this, that copy yousent them will be on file with them, and no matter what you say or do in the future, that judgment will stay on your report for 7 years, because YOU VERIFIED IT FOR THEM AS BEING YOURS. I've been there, dont that. It isn't worth it IMHO. After a while these court records are archived. Then it is more difficult for the CRA's to verify that they are yours, especially if old addresses and old personal info have been removed from your reports. THEN you can dispute the judgment info, and they will not go to the trouble of verifying it, and it will come off. But it's up to you - perhaps your reasons for having it updated are worth having it show on there the full 7 years. Personally, I think 7 years is a heavy punishment, especially when a lot of judgments arise from disputes, not defaulted debts (that's what mine was). So some bozo incompetent does bad work, and you don't want to pay his exhorbitant price, so you go to court over it. He wins. Bingo! You look like a deadbeat for 7 years. Even if you win, CRA's will report it as a negative!!!! NY has a good idea - they limit it to 5 years if it's paid. Linda
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