Judgment By Fire

I have a $40,000.00 judgement on my credit report from an insurance company. We rented the house and did not have renters insurace.

I had two foster childre at the time, ages 14 and 5. School was out on this day. Long story short, the 5 year old playing with a candle the house burns.Thank God no one was hurt.

Our lease had expired and we were paying month to month while looking for a new place. Landlord says the fire was accidental insurance will take care of it. It took a while for me to get it together and replace all my childrens belongings.

I recently applied for a new home loan and see that I have a $40,000.00 judgement.Is there anything I can do about this? I cannot afford to pay $40,000.00!!!

I disputed it on the credit report it showed up on. Only one! Equifax.

Any ideas would be greatly appreciated. If I cannot clear this up there goes my new home.

Thanks in advance

Sheila

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Hi Sheila,

It sounds like a default judgment.  You may be able to have it vacated depending on State law and age.

Thanks for the questions and hope this helps.

Paul

This author is not an attorney and this information should not be considered legal advice.  Please consult an attorney for legal advice.