I am confident that it does not, there is nothing in the guidance that states this. please provide a reference. Judgments yes, collections no.
And when we talk about ājudgementsā weāre talking about something ordered by the court, correct? At least thatās what I came up with after exhaustive research
(yeah yeah three minutes on google )
Yes in has to be court ordered.
Thanks,
TC
Guess Iāve been asking the entirely wrong questions in all my years as an investigator. Shucks.
I721-you are correct. The SF 86, section 26, instructs the applicant to report any bills or debts turned over to a collection agency in the last 7 years. (Including financial obligations where the Subject was the sole debtor, as well as any for debts the Subject was a cosigner or a guarantor)
There is no qualification for the collection action.
while you donāt enter any civil court judgements that were not against you in the financial section, you do list all civil court actions in the last ten years in section 28.
There is no qualifier except āunless entered elsewhere on this formā
Read what the OP is asking again. He specifically states the question about over 120 days. Not what you are answering. Same goes for 721.
The big difference here comes down to splitting hairs. I lean towards the BI folks, period. I have stated many times to āover reportā vice under report, and by that I mean speak about any potential disqualifiers. Far better to tell the success story of hitting hard times, correcting it, making it better and now being caught up againā¦proudly. Life happens. People fall behind. Those getting up, knocking the dust off and doing better? Well, aint that America? Its what successful people do. If anyone in the review chain feels you are shading the answers to potentially hide something that should have been discussedā¦that works against you. The sin of omission vice commission. It is always better when you are the one revealing info to the BI person, vice them finding it. Personnel security is both Art and Science. Those who are pretty good know the āScienceāā¦what the written word states. Those who are much betterā¦understand the āArtā of the process and give advice intended to give the best results. Perhaps use a combination of both approaches, explain the technical verbiageā¦a solid BI person would then say āsounds like you have something pretty close and you have concerns, so lets discuss this.ā Let the BI person determine what the correct answer is for your situation.