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Will a non monetary judgment affect my credit?
Anonymous2 views3 answers
I have heard that judgments negatively affect your credit. I am the defendant in a case where a bank who has foreclosed on a house I sold to someone else added me to the claim because they say they want to reform the deed They are not seeking any monetary damages from me, solely to change the legal description. I'm worried that if the judge grants them this, it will affect my credit even though they are not selling any damages from me.
It would be a money judgment that would be turned over to a credit rating authority. To reform a deed, the credit union would have no money judgment to report on you
Most non-monetary judgments won't impact your credit as it has nothing to do with personal finances, which is what the credit bureaus are interested in.
The credit bureaus normally only report monetary judgments. They are occasionally sloppy about their reporting of judgments, so it is possible, but not extremely likely, that a judgment against the other defendants might be reported as a judgment against you. If that happens, you have the right to dispute the erroneous reporting, and sue them for damages, if you have any, pursuant to the Fair Credit Reporting Act. I would suggest saving your copies of the complaint and any orders entered against you for 7-10 years. Also, if you have not already done so, you should have an attorney look over the documents relating to the foreclosure case to make sure what they are seeking is appropriate.
