Posted on: 26th Mar, 2009 04:30 am
Hi!
I just experienced a nasty landlord-tenant lawsuit. I am holding the tenant's deposit due to her damage to the property. However, the court ordered me to pay her $1000. What should I do to remove it from my credit history?
I just experienced a nasty landlord-tenant lawsuit. I am holding the tenant's deposit due to her damage to the property. However, the court ordered me to pay her $1000. What should I do to remove it from my credit history?
Hi yyuan,
As far as I know, any negative item will stay in your credit report for 7 years. But, you will have to pay off the $1000 to the tenant as per the judgment.
Thanks
As far as I know, any negative item will stay in your credit report for 7 years. But, you will have to pay off the $1000 to the tenant as per the judgment.
Thanks
you won't be able to remove the judgment, but you can erase some of the sting of it by complying with the court order that you repay the tenant all that you owe. in that way, the judgment will appear as released on your credit report. the longer it sits, the worse it will be for you.
That would be correct, Yyuan there is not a way to remove a judgement from your credit report but yes paying it off asap would be your best bet so that it does not get worse over time. Any negative item will reflect on your credit report for 7 years.