cancel
Showing results for 
Search instead for 
Did you mean: 

Help - Public Court Record hurting my FICO score

tag
Anonymous
Not applicable

Re: Help - Public Court Record hurting my FICO score


@Anonymous wrote:

You state that FICO "is not to blame and is doing their job properly" since "FICO simply takes the data that the CRAs report and factors them into a mathematical formula."

 

However, since you agree that the small claims judgment should not reflect on my creditworthiness, then the mathematical formula they use is obviously flawed. 

 

Why should FICO not be held accountable for using a flawed formula? The power of FICO now dominates the American consumer economy:  the lower your FICO score, the more you pay for mortgages, loans, credit cards, and insurance.  FICO, which earns millions of dollars from creditors and mortgage lenders, essentially has a monopoly over the credit scoring system and gatekeeping role regarding consumer credit, housing, insurance, and employment.

 

Perhaps it's time for more accountability of their credit scoring methods by way of regulation or a nonpartisan study.  To date, no government regulator has insisted that they be examined to ensure that they are adequate and fair.   Despite your cynicism that this is "a battle you can never win", it's this attitude that keeps them arrogantly and shamelessly operating unfairly,  and without any fear of reprisals.

 


 

You're grasping for straws.

 

Neither FICO or the CRAs have any way of knowing anything other than you simply have a judgment against you.  They do not know any of the details and even if they did it would be largely irrelevant.

 

Do you really believe they are going to send an army of investigators to each courthouse to examine each one of millions & millions of judgments and then conduct a review to determine which ones may or may not actually reflect negatively on the judgment debtor? 

 

I know you don't like the answer, but your only recourse is a personal statement placed on your credit report or having the judgment vacated.  I guess you could always try to find an attorney willing to take on your case, but I seriously doubt any would even consider it. 

Message 11 of 15
IOBA
Senior Contributor

Re: Help - Public Court Record hurting my FICO score

Since this paid judgement is bother you so very much, have you considered trying to get it vacated?   Then the record would be gone from your cr.

Message 12 of 15
Anonymous
Not applicable

Re: Help - Public Court Record hurting my FICO score

The problem with getting a judgment vacated in California, I'm told, is that it is very limited and can only be vacated for "good cause."  Good cause exists when a default judgment was entered against a wrong party, or when a defendant  had an excuse for not showing up to court.  Good cause also exists in situations where there was a clerical error printed on the judgment (wrong name or monetary amount).  None of these situations apply to me.

 

In my case liability was not an issue.  The Plaintiff said my actions caused $5,000 in property damage while I said the damages, to the extent that they were caused by me, were only about $1,000.  The Small Claims Judge, after hearing both sides, found that I was only liable for $800 and ordered a judgment in that amount.   I left Court thinking that I was victorious, only to later find that this public record has been hurting my FICO score.

 

  

 

 

Message 13 of 15
Anonymous
Not applicable

Re: Help - Public Court Record hurting my FICO score


@Anonymous wrote:

The problem with getting a judgment vacated in California, I'm told, is that it is very limited and can only be vacated for "good cause."  Good cause exists when a default judgment was entered against a wrong party, or when a defendant  had an excuse for not showing up to court.  Good cause also exists in situations where there was a clerical error printed on the judgment (wrong name or monetary amount).  None of these situations apply to me.

 

In my case liability was not an issue.  The Plaintiff said my actions caused $5,000 in property damage while I said the damages, to the extent that they were caused by me, were only about $1,000.  The Small Claims Judge, after hearing both sides, found that I was only liable for $800 and ordered a judgment in that amount.   I left Court thinking that I was victorious, only to later find that this public record has been hurting my FICO score.

 

  

 

 


In California good cause is left up to the discretion of the court.  I would be a little surprised if you went before the same small claims court judge, told him your story and showed how the judgment had been immediately satisfied and then the judge did not grant relief.

Message 14 of 15
Anonymous
Not applicable

Re: Help - Public Court Record hurting my FICO score

thanks!   I'll give it a try.

Message 15 of 15
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.