A judgment is a legal court decision that is entered at the completion of a lawsuit.
Judgments are usually filed when a creditor or collection agency was not successful in collecting a debt and initiated the lawsuit to recover the balance of the money owed.
Like tax liens, judgments can lead to wage garnishments and tax refund garnishments.
Consumers who have dealt with judgments placed on their credit reports know what a devastating experience it can bring and the tremendous negative impact which it has.
Judgments significantly lower credit scores and may also prevent consumers from getting approved for new lines of credit like mortgages or auto loans.