Judgment Definition Bankrate.com Caret RightMain Menu Mortgage Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Bank Banking Compare Accounts Use calculators Get advice Bank reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Credit Card Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Caret RightMain Menu Loan Loans Personal Loans Student Loans Auto Loans Loan calculators Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Invest Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Home Equity Home equity Get the best rates Lender reviews Use calculators Knowledge base Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Loan Home Improvement Real estate Selling a home Buying a home Finding the right agent Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Insurance Insurance Car insurance Homeowners insurance Other insurance Company reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Retirement Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content

Judgment

You need to understand what a judgment is. Here’s what to know.

What is a judgment

A judgment is a decision from a judge on a civil action or lawsuit. Usually a person is required to pay an amount of money to satisfy a debt or a penalty.

Deeper definition

Judgment is a concept that has a lot of meanings, in and out of the business world. Consider the following definitions for the word: The act of judging. One’s ability to make judgments or decisions or to form opinions in an objective fashion with authority and wisdom, particularly regarding issues of discretion and good sense. Demonstrating the capacity to exercise judgment. Forming an opinion or conclusion about information as circumstances and explanations come into focus. An opinion or conclusion formed as a result. Two legal references: Judicial decisions delivered by a court or judge. Obligations — sometimes called “damages” — due as a result of such a court decision. Negative consequence as delivered by a divine power. From legal to religious connotations, judgment is a word that covers a range of concepts relating to breaking a law or expectation of some sort. Usually judgment, particularly in a legal sense, implies some type of debt owed or reparation required to restore your standing in a relationship or in society as a whole. In civil cases, judgment clarifies the rights and claims of the individual parties in dispute. For criminal cases, judgment designates guilt (or absolution) and a sentence for the convicted defendant.

Judgment example

If you take a shop owner to court over a case where you slipped on a spilled container of grapes in the store and broke your leg, the judge’s final decision in that case is the judgment. Should the shop owner be found negligent in the shop maintenance that led to your injury, the damages that he or she owes you would be considered part of that judgment. Alternatively, if the shop owner were found not responsible, the declaration of his or her innocence would be the judgment. The final ruling of the judge, no matter which way it goes, is the judgment. How does judgment impact your credit score?

More From Bankrate

There just might be something to that whole Mars and Venus thing when it comes to debt. Spending a lot before or after filing for bankruptcy could jeopardize your case. Try to get back under the bankrupcty court’s protection, the Bankruptcy Adviser urges a reader who voluntarily dismissed her case and faced creditors on her own. Here’s what to consider to help you determine if free debt consolidation is a good fit for you. The average American has $96,371 in debt, including student loan, mortgage and credit card balances. Whether your debt is more or less than that amount, it can feel difficult to manage. Even if you’re [...] Except in a few instances, unemployment benefits are exempt from garnishment. How your bankruptcy will play out depends on the type of bankruptcy you file. Not all debt is bad. Or, for that matter, good. Find out the differences here. Here’s how to find out if a debt collector is legit.