For people who are behind on their credit cards and other installment payments this usually means spending years to payoff credit card debts or bring the debts current followed by seven years of poor credit ratings. For many people in this situation credit problems can last a decade or more. For those who are no longer able to even pay the minimum payment on their installment accounts, things can get worse. When credit card payments fall behind by three months or more, most credit card companies file suit. While many credit card suits result in compromises in which a portion of the balance is paid out over time, many also result in judgments.
Judgments cause additional problems.
To order a copy of your credit report online visit Usefull Internet Links which contains direct links to Equifax and Experian credit reportng services. Judgments Judgments in Florida and many other states remain effective for a period of twenty years. While judgments do not always show up on credit reports, particularly after the seven year mark, they will always show up on a search of the Public Records. A name search in the Public Records is a normal part of the process in obtaining a mortgage loan. Judgments give the judgment holder the ability to garnish wages, garnish bank accounts or send the Sheriff out to levy on personal property, automobiles, etc.