Judgment Question...

[Anonymous]

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@MissMovingForward wrote:

Question for you all....will the appearance of a judgment on your credit file (or 6 in my case, 3 paid, 3 unpaid) generate an auto decline when applying for credit?  I'm curious.  I know other factors contribute to approval decisions, however, in general I am curious about this topic.  Thanks in advance!

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I think it will be extremely difficult to get an approval with any public record -- let alone 6.

[MissMovingForward]

I understand how you could feel that way.  Like I said 3 are paid (from 2 years ago) and the other 3 are five years old.  All are from old apartments where I used to live.  I was able to get approved for my mortgage with them because the recent ones were paid and the other 3 are old and less important I assume because they weren't an issue when it came to my mortage approval.

[Anonymous]

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@MissMovingForward wrote:

I understand how you could feel that way.  Like I said 3 are paid (from 2 years ago) and the other 3 are five years old.  All are from old apartments where I used to live.  I was able to get approved for my mortgage with them because the recent ones were paid and the other 3 are old and less important I assume because they weren't an issue when it came to my mortage approval.

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Getting approved for a mortgage is in many ways easier than for a credit card.  With a mortgage, a lender invests time and energy into evaluating your application because they stand to earn a lot of money and usually have adequate collateral if things later go south. 

Credit card companies, on the other hand, almost always use an automated system and I have seen very, very, very few that will not decline based on public records.  Check out old posts on this very forum and you'll see that in the vast majority of cases a public reord is a deal-breaker on any credit card application and many times on auto loans.

[MissMovingForward]

not looking to get a credit card...already have two.

Basically I was looking for a variety of opinions....and you seem to have a lot of passion around the subject which is fine.

I disagree that it's easier to get a mortgage than it is a credit card.....as always IMO.

I am applying for an auto loan with my credit union as soon as I get my utlization down...so I guess we will see!  I know they will do a manual review and hopefully give me the benefit of the doubt.

Thanks O6 for your opinion. 

[happy0510]

Good Luck Miss Moving,

You will be fine and get what you want.  You are making a good decision by coming here

and starting your way to a positive future!!

Happy

[MissMovingForward]

Thank you Happy0510! 

One step at a time!!!