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You will be buying a new house to get the score back up lol.
I read somewhere in one of these forums that even if the judgement is on there it looks better to lenders if it is paid. I believe it also has to be paid before he buys real estate in most cases. You may want to check when judgements expire in the state you are in. Where we live they expire in 10 years unless renewed by the creditor/CA . My husband has one from 2007 and the lady at Wells Fargo we talked to recommended that we don't use his credit to get the loan because that judgement may stand in the way if we can't afford to pay it right now. (His is quite a bit more than yours.) Just something you may want to check into..
Was a rough 2 years and 4 months.... But thank goodness my family all struggled their parts also.
You will get there, just slowly whenever you can add additional to principal even if it is only 10 dollars!
If I had the interest rates they have today I may have taken longer to pay it off. But at 6.25% it was a killer!!!
Congratulations JM-AM, what an accomplishment!
With all this back and forth about maximizing credit card useage, it seems one major item was overlooked. It does not matter if you have an 800 credit score, if you have an unpaid judgement. The judgement has to be paid. At that time you can attempt to get it vacated and removed from your credit report. However, the credit report is not the issue. The judgement has to be paid. (I have read that if you have a payment plan with the creditor and 12 months of on time payments you may be able to get a mortgage, but I do not know for sure.)
@sharpie wrote:With all this back and forth about maximizing credit card useage, it seems one major item was overlooked. It does not matter if you have an 800 credit score, if you have an unpaid judgement. The judgement has to be paid. At that time you can attempt to get it vacated and removed from your credit report. However, the credit report is not the issue. The judgement has to be paid. (I have read that if you have a payment plan with the creditor and 12 months of on time payments you may be able to get a mortgage, but I do not know for sure.)
Well said sharpie. It's the first order of business for the op.