Federal Fair Credit Reporting Act question - Posted by Bill_AL

import · January 17, 2005, 9:25am

Posted by rose on March 09, 2006 at 19:15:05:

I purchased a car in 1987 for 5 years. I became sick and the car was repossed in 1992. A jugdement was place by Ford on March 1, 1999. On 3/01/2006. Ford is sueing again.I lost my job in 1998. Is this not double jepordy. These people want 14,000.00, this is ridiculous.

import · January 17, 2005, 9:25am

Posted by Bill_AL on January 17, 2005 at 10:25:22:

I recently posted a topic on over on the CREONLINE cashflow forum. Mike Morrongiello was more than gracious to respond to my original question and also to follow-ups. Nevertheless, I am posting here a brief question that remained unanswered on the other forum. Is a Civil Court Judgment considered as a “credit obligation” under the Fair Credit Reporting Act? You may want to refer to the entire thread on the subject over in the cashflow forum in order to get the gist of what this is about. Thank you for any clarification on this matter.

Bill_AL

import · January 17, 2005, 7:29pm

Re: Federal Fair Credit Reporting Act question - Posted by chet

Posted by chet on January 17, 2005 at 20:29:29:

have you looked at FACTA or FCRA to see if they define “credit obligation”?

Google has a zillions hits too.

import · January 17, 2005, 3:37pm

Re: Federal Fair Credit Reporting Act question - Posted by JohnBoy

Posted by JohnBoy on January 17, 2005 at 16:37:32:

I don’t know if it is considered a “credit” obligation, but is certainly a “debt” obligation that is owed. So whether it is “credit” or “debt” obligation, I wouldn’t think it would make a difference. The bottom line is that it is a judgement against you that you are legally obligated to pay. Judgements are reported to the credit bureaus. Judgements will affect your credit score. Creditors see judgements that are outstanding a credit risk. They know you can go after and enforce a judgement, especially when any assets are at stake. They also look at it as a higher risk that the debtor could file BK.

I don’t know if that helps answer your question or not. Is there a reason why you want to know if it is considered a “credit” obligation? I don’t see a difference in the term, credit, debt, judgement, or whatever…it’s money that owed, period.

import · January 27, 2005, 10:51am

Re: Federal Fair Credit Reporting Act question - Posted by Bill_AL

Posted by Bill_AL on January 27, 2005 at 11:51:38:

I am not the judgment debtor. I own the judgment.