Okay, i got into a car accident about a year ago. This lady is suing me now. my auto insurance company has tried to settle this with her before going to court. She won't accept it. I was told that my insurance will pay for the settlement but if the claim has to go through court, this whole thing will somehow go on my credit report. I have really good credit right now. i think it's up to 746 right now. Do you know if and how this will affect my credit?
2006-08-24 07:41:23 · 3 answers · asked by MRS.S 2 in Business & Finance ➔ Credit
Rhonda is right it will go on your reports and lower your scores.
I don't understand something, you say that the insurance company WILL pay WHEN it goes to court???
If they are willing to pay it when it goes to court, they should pay it before it goes to court.
You paid your premiums to the insurance company, so unless that woman is being extremely unreasonable in her claims, the insurance company should pay before it goes to court.
I'd be working on that insurance company to take care of it before it goes to court. You have nothing to lose since the insurance company will probably drop you anyway if they have to pay a claim on you.
2006-08-24 08:09:51 · answer #1 · answered by echo 7 · 0⤊ 0⤋
If you are sued and the plaintiff wins there will be a judgment posted on your credit report even if the insurance company pays or not. Whenever you apply for any credit this will show up and you will have to show that the judgment has been satisfied. This will also lower your credit score. This happened to us 3 years ago and is still haunting us.
2006-08-24 14:49:41 · answer #2 · answered by Anonymous · 1⤊ 0⤋
I believe it will show up as a paid judgement on your bureau report. I don't know if it will lower your score or not..you may want to consult with your atty.
2006-08-24 14:47:29 · answer #3 · answered by Q.S.G 3 · 0⤊ 0⤋