Wheels of Misfortune 2017 Add New Topic
- May 31, 2017 at 7:47 pm #16241smeModerator
Bad News for Creditors
There are some regulatory changes coming July 1st, 2017 that may boost the credit scores of 12 million Americans. Good news, right? Well maybe not for judgment creditors.
The three major credit reporting agencies, Experian, TransUnion and Equifax will no longer report civil judgments on credit reports, making judgment recovery more difficult for judgment creditors. If a judgment debtor no longer has a judgment showing as a negative mark on their credit report, there is even less incentive for them to pay up.
The best course of action is to contact an attorney. They have the resources available to them to enforce the judgment & make it difficult for the debtor to fly under the radar
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