If you fail to pay a debt to a lender, they can apply for a court judgment from the courts. This judgment will require you to pay back what you owe them including fees, charges and interest.
If you pay within 30 days, the ‘satisfied’ court judgment may be removed from the published record. However, if you fail to pay it, it will be remain published as ‘unsatisfied’ on your report.
Any court judgments that appear on your report will stay on file for 5 years.