Legal Question in Credit and Debt Law in Texas

Judgment on Credit Report

Hi,

The Fair Credit Reporting Act says that a judgment may stay on a credit report for 7 years or until the governing statute of limitations has expired, whichever is longer.

My question: Is the ''governing statute of limitations'' the statute of limitations on the underlying claim that led to the judgment -or- is it the amount of time during which the judgment can be executed upon?

For example, I know in Texas most torts have a 4-year statute of limitations but the amount of time a judgment can be collected is 10 years and is renewable after that. Does that mean a judgment can stay on the report forever or for 7 years (the greater of 4 and 7)?

Thanks!


Asked on 3/14/07, 6:11 pm

1 Answer from Attorneys
Sharon Campbell Sharon K. Campbell

Re: Judgment on Credit Report

Judgments may stay on your credit report for as long as they are valid. They are good for 10 years may be renewed for another 10 years, etc. The FCRA section you are citing does not pertain to public records. The statute of limitations refers to the time in which a suit must be filed. In other words, if you default on your credit card or some other contract right now, the creditor has four years to sue you.

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Answered on 3/14/07, 6:20 pm


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