I was reading up on collections and judgments- and i can%26#039;t quite understand what judgments are. care to explain?
What are judgments on credit?
When a debt is in default the creditor will file a motion with the court for a judgment for the amount of money owed plus any applicable fees allowed under initial agreement signed at time the account was open. Once the judge grants the motion it is now a certified judgment and most likely will be on your credit and these may effect clear title on any real property, or the judge could allow a garnishment of wages or assets. Collections, although still very adverse, are not recorded in public records. Hope this helps
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