judgement

[Anonymous]

I have an outstanding payday loan and I received a phone call from a 3rd party saying that if I don't pay it I can get a judgment on my cr. Is that true and if so how bad will it damage my score?

[llecs]

A new PR (public record) could really zap your score. If you have high FICO scores not and no baddies, then I'd guess 70+. If you have other PRs, CAs, and other baddies, then I'd guess a lot less.

BTW, Welcome to the forums!

I'd suggest reading the following:

Common Abbreviations

Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.

and What Steps Do I Take - great for learning the repair process.

Don't talk to whoever is calling. Did you receive any court papers? Who is this person collecting for? The CA or the payday lender? Are you out of SOL?

[Anonymous]

I haven't received any court papers and they are collecting for the payday lender and no I am not out of my sol. When I talked to the person they told me that I have the option to pay the amount from the payday lender plus interest or they can send it over to the courts where they will file for a judgement which will be more. My credit score is in the high 500's and I was just wondering how low will it go if I have a judgement.