QUESTION
How long does an abstract of judgement remain on a credit report?
Asked on Mar 22nd, 2012 on Bankruptcy - California
More details to this question:
Once a Chapter 7 bankruptcy is filed, how long does an abstract of judgment remain on a credit report?
4 ANSWERS
Chapter 7s can be on your credit report "up to 10 years."
Answered on Mar 26th, 2012 at 5:19 PM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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An abstract of judgment stays on record for ten years and can be renewed for an additional ten years.
Answered on Mar 26th, 2012 at 2:37 PM
Chapter 7 Bankruptcy Attorney serving Clinton, MS
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Timothy Kevin Byrne Attorney at Law
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It can stay up to eight years. It should show BK as a comment to indicate the debt was part of a bankruptcy filing.
Answered on Mar 24th, 2012 at 9:26 AM
Bankruptcy Attorney serving Hayward, CA
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Carballo Law Offices
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It stays forever but the underlying judgment is valid for 10 years and renewable over and over again forever. Therefore, so long as the judgment is valid then the lien is valid. Once the judgment expires (not renewed) then the lien will remain but will not be valid so it may have to be removed by a court order. The Chapter 7 case does not remove the lien. The bankruptcy discharge makes the judgment legally unenforceable. A motion to void the lien needs to be filed in the bankrutpcy case and a court order obtained voiding the lien and then the order voiding the lien must be recorded. Otherwise, the lien will continue to cloud the title to the property forever and you will not be able to refinance and sell the house because the title company will require removal of the lien. Do it now while in Chapter 7 or you will regret it because it will cost you a lot more to remove the lien later and will take a lot longer.
Answered on Mar 23rd, 2012 at 2:26 PM