judgements

[MsTucker09]

So I have a wrongful judgement on my credit report that I am trying to have removed, long story short, I went to test drive a car today and when I told the finance manager that I had the wrongful judgement that I am currently having removed, he stated that it really doesnt impact my score and will probably only raise it about 30 pts.  I though public records (liens, judgements, foreclosures, bankrupties) weigh heavily on your credit report, am I wrong or were they so anxious to get a sale they would tell me anything?  ANy input is appreciated.

[pizzadude]

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@MsTucker09 wrote:

So I have a wrongful judgement on my credit report that I am trying to have removed, long story short, I went to test drive a car today and when I told the finance manager that I had the wrongful judgement that I am currently having removed, he stated that it really doesnt impact my score and will probably only raise it about 30 pts.  I though public records (liens, judgements, foreclosures, bankrupties) weigh heavily on your credit report, am I wrong or were they so anxious to get a sale they would tell me anything?  ANy input is appreciated.

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Unfortunately many people think that what is true for one person's credit score is true for everyone.   A judgement is a major derogatory item and it can significanllty lower your FICO score;  also it's impossible to guess how much your score would increase without knowing what else is on your reports.   And yes their job is to sell you a car today, not tomorrow, so it's in their best interest to advise you not to wait on your purchase. 

[LIGHTNIN]

  

[LIGHTNIN]

Sorry couldnt type on the other post with the chart.

As you can see a 30 day late hurts 60-110 points. And a  major derog like a judgment, would hurt more. 

[MsTucker09]

thank you guys, thats what I thought, I will just go back when the judgement has been removed and hopefully my credit score will jump to 620 once that comes off and I pay $2000 of my $2500 in credit card debt

[Anonymous]

Better yet, get pre-approved through your bank or CU so then you know what you can afford before you go to the dealer.

[MsTucker09]

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@Anonymous wrote:

Better yet, get pre-approved through your bank or CU so then you know what you can afford before you go to the dealer.

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that would be great, but I will wait until the judgement comes off so I can still get a better rate, they were just so hell bent on getting my SSN so they could get me at a ridiculously high rate, im too smart for that.  When I go back, i will hopefully have at least 1 approval already in hand, so they can try to beat it and im not stuck with dealer financing. thanks

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