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Will satisfying a judgment also satisfy the corresponding open debt reported in the accounts portion of the credit report?
Wiki User
∙ 19y ago
Your question concerns two separate issues. A judgment is a legal action that is shown in the "public records" portion of your credit. Any legal item needs its' proper disposition. In the case of a judgment, the disposition is a "satisfaction of judgment". To obtain a satisfaction, the consumer would need to contact the courthouse (same jurisdiction) where the judgment was filed, show proof of payment and follow whatever legal procedure needed. The consumer would then need to have this satisfaction recorded. It is also a good idea to forward a recorded copy to the credit bureaus. An open debt in the tradelines, need to be updated to its' paid status, separate from the judgment.
Wiki User
∙ 19y ago
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What part of balance sheet is allowance for doubtful accounts reported?
The allowance for doubtful accounts is a reduction to the accounts receivable. This is a contra account, similar to accumulated depreciation.
How do you find a list of accounts sent to collections?
Get a copy of your credit report from all three bureaus. You can get a free copy each year. This report will tell you all of the collection accounts that are currently reported, and to which of the credit bureaus they are being reported to.
What is mean by accounts receivable?
Accounts receivable also known as Debtors, is the money owed to a business by its clients (customers) and reported as an asset in balance sheet.
Where does accounts receivable go on a multi step income statement?
Accounts receivables would be included in the balance sheet. The income statement reports revenues and expenses. Accounts receivables is an asset account and all the asset, liablities and equity accounts are reported on the balance sheet.
What is an open account listed on a credit report?
Open Account - account listed as "open" on your credit report are accounts that are open, includes all accounts that have been reported within the last 90 days.
How is a judgment reported to the credit bureau?
county
If a landlord files suit against you and you contest it will the suit be reported to the credit bureaus or will it be reported as a judgment?
A judgment is granted to the victor in a court case and would only be reported against the defendant after it is granted. So the suit itself is never reported until a conclusion is declared by the court.
How long is a judgment collectible in state of Va?
A judgment is collectible until it is paid. There is not statute of limitations on a judgment. It is best to pay it off so it is reported as satisfied.
What part of balance sheet is allowance for doubtful accounts reported?
The allowance for doubtful accounts is a reduction to the accounts receivable. This is a contra account, similar to accumulated depreciation.
If you have two accounts and one in chexsystems will the other show in chexsystems also?
No. Only the accounts that have been reported show up in the system.
How can you prevent a judgment from being entered into your credit report or remove it after it has been reported?
You can't do either. The judgment will remain until the expiration date. The judgment even if paid will remain for seven (7) years.
How does FATCA affect US citizens' savings accounts?
Offshore saving accounts of US citizen are affected. The balance and income of those accounts are reported to IRS for tax purpose
Where do you pay collection accounts that are reported on your credit report when the company is out of business or no longer handles the account that was reported for collection?
You pay the collection agency.
Can a judgment be reported to more that one credit bureau?
Yes a judgement can be reported to more than one credit bureau and is usually reported to the three major credit bureaus (equifax, tranunion & experian)
Accounts receivable are reported on the balance sheet at?
Accounts receivable shown in balance sheet at assets side under current assets section.
How do you find a list of accounts sent to collections?
Get a copy of your credit report from all three bureaus. You can get a free copy each year. This report will tell you all of the collection accounts that are currently reported, and to which of the credit bureaus they are being reported to.
How can an eviction judgment on your tenant record be fixed?
If the judgment was reported to the credit bureaus, the tenant needs to pay it, get the judgment amended to zero by the court, and send that to the credit bureaus. However, the fact that there was a case can never be erased.
