A legal finding by a judge or court of law. A judgment can sometimes force garnishment of wages or assets to satisfy the judgment debt. In terms of credit, judgments are unsecured liens filed against a person for nonpayment of debt. With most debts (installment loans, credit card balances, medical bills, etc.), if the consumer fails to make payments, the lender will pursue the borrower with delinquency notices, default notices, collection and, if the balance is large enough, a legal judgment. For more information, see the "Analyzing Credit Reports" article in the "Loan Process" section.
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