How much does this embarrassing judgment affect my credit & worthiness?

Question

In 2002, I was in a crappy situation. I won't get into details, but a roommate screwed me over by not paying her share of the rent & I didn't make enough money to be able to pay out both shares. (plus, I had literally no other options for housing/a place to live) Back then, I was literally making only $5200 gross per YEAR...so sad. So in the end, a judgment was placed against us by the landlord and now it is on 1 of 3 of my credit reports.

This happened 5 yrs ago. I paid the judgment(in full) less than a year later all by myself. Since then, I've tried really hard to establish good credit & I've paid all my bills on time. I have no other bad marks on my credit reports except for several credit card 30day latenesses from 3yrs ago, which was essentially a domino effect from the money loss that I experienced from this judgment.

How much do you think this judgment is pulling down my credit score? When will it drop off? It's only on Experian.

My credit score is in the mid-to-high 600s these days(it'll get higher when I pay off in full 2 credit card balances).

Also, do you think this judgment is hindering me from getting credit?

I've established good credit since the judgment...a $27K car loan that I only owe $12,500 on(I've had the loan for <2yrs), 2 credit cards with decently high limits, etc. So I've gotten approved for credit in spite of the judgment, as long as the creditor doesn't pull Experian(the only credit report containing the judgment). But I'm wondering how much this judgment is hindering creditors from giving me credit? I've noticed that most of my credit app rejections come when the creditor pulls Experian.

Do creditors view this judgment to be as much of a "big black mark" and an embarrassment as I do?

Answer 1

Sometimes you can write the original creditor and have it taken off of your credit report. I have had that done with one of my past landlords when I went through my divorce. In about 2 years this should fall of of your credit and yes some creditors will mark it against you. But you did pay it off, if that is all besides some 30 day lates that is negative on yuor credit you may wan tto pull that report to make sure there is not something on there that you are not aware of.

Answer 2

Judgments are public records. You cannot get them removed before the 10 year reporting period. If the judgment shows that is is paid, it should not be affecting your score that much, especially after 5 years.

The late credit card payments probably hurt your score more. Those will stay on your report for 7-1/2 years from the delinquency date.

Your best bet is to work on paying off those credit cards. That will improve your debt to available credit limit ratio, which will impove your score. The longer your on time payment history, the better your score will get.

Answer 3

If your credit has been good (meaning you have established and exercised credit) for the last five years, that issue will still be negatively influencing your credit scores, but at a gradually diminishing rate. What I would suggest you do is contact the Experian contact name and relate this to them with the inquiry of how you can eliminate that issue from influencing your rating - they will very likely work with you, verify a few things and correct the ratings. Sometimes the updating of records on these services lags far beyond the events, so this might be the prompt they need to relook at yours.

Answer 4

nicely Lornah, your question is slightly too popular and super. Having a lot of taking part in cards in and of itself won't negatively or certainly result your credit worthiness. Your earnings, the quantity of debt you're wearing on those taking part in cards and the p.c. of the credit cut back on each card besides with the aid of fact the full p.c. to limits of the taking part in cards mixed is what impacts your credit/worthiness. those with the final rankings have 30% or much less of their limits used, as much as 50% remains ok, as you bypass over 50% and the farther you bypass over 50% the greater it has a unfavorable result, over seventy 5% will strengthen the unfavorable result. so which you notice, this is not any longer an basic definite or no answer on your question

Answer 5

wow, you go so screwed, first of all if the lease was in BOTH
of your names, and you showed all your receipts for your
half, THEY SUED THE WRONG PERSON.

I would contact a lawyer and see if you can find and sue
the person who lived with you (providing their name was
also on the lease) or sue the Company back because
you paid your half and was not required to pay the OTHER HALF. You weren't the other persons co-signer.

A Judgement can stay on your credit report for up to 15 years