What is a rescinded judgment?
When a judgment has been granted against an individual in
error, or when other irregularities have occurred, or if the credit/service
provider agrees to the rescission, judgment could be rescinded and removed from
the consumer's credit report.
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What is a judgment?
A judgment is granted by the court against a consumer who has not paid their debts to a credit/service provider. A judgment is public information and remains on your credit report for 5 years or until the judgment is rescinded by a court or paid in ...
Once I paid the default, why is it not removed?
Credit bureaus are required by the National Credit Act (NCA) to retain this information on the consumer's report for the prescribed retention period - regardless of whether it reflects negatively or positively on the consumer. Therefore this ...