WOW. The last last payment fell off and gained 33 points.
836 Score from Equifax.
Accounts with balances: 7
Accounts opened in the past year: 5
Recent Inquires: 0
Public records: 0
Credit History: 24 years
Payment History: Exceptional
Amount of Debt: Exceptional
Length of Credit History: Very Good
Amount of New Credit: Good
(I'm thinking I should get another 5 points after the "Accounts opened in the past year" section goes to 0 in December of this year)
Current Mix: Every type
1. The last negattive is valuable - 33 points
2. Sometimes asking for an early removal of a negative works. (EQ remove it 3 months ahead of the scheduled date)
3. < 10 % but >= 1% IS the magic number in terms of utilization
Question: A paving company is at odds with me and my wife over some work that was done and are threatening to take us to small claims court for $300.
My wife and I are in disagreement that IF we were to:
1. Go to court,
2. Loose the decision
3. Pay the amount awarded
That Court Record could end up on my credit report as a Public Record
I say that it WILL be reportedto the CR
She says it would not.
I AM NOT TAKING THE CHANCE over $300
Your comments are appreciated.
Glad to hear about your profile/score improvement!
One thing though, you wrote that you have 5 accounts opened in the last year which would imply that you have 5 inquiries, yet you wrote your inquiries are 0?
Yes. With the 5 New Accounts - the inq's did not post to all 3 CA's. only 1. I notice that with NON MAJOR accounts like CC's, they sometimes only do an inquiry from 1 CA. Lucky break.
Congratulations on your journey. I concur with your assessment. I would not risk a public record over $300.
Thats fantastic... Very happy for you...
I don't seek any more credit. 11 months ago I applied and recieved 5 new credit cards so my available credit would be large (> 70 k) After that, I did not apply for any credit.
I'm now waiting for those 5 to not report as "New Credit"
Also, this is my thoughts on HELOC's. They definitley serve a purpose, but they report to the CA's just like a credit card. I had a 20K HELOC and needed the entire 20K. It reports as if I had a maxed out CC.
Pay the $300.
It's not worth the risk.
While chances are tthat it WILL NOT go on your credit record IF you Pay once the court decision is made, it's not worth the risk to your pristine credit score.
Pay the money you owe. I have a feeling you know you don't have a leg to stand on as you are already anticipating losing if it goes to court. Knowing friends who are contractors it really is lamentable those who don't pay for work done. Now I'm sure you are unsatisfied of the work if you're not willing to pay but it's really rare that the contractor won't make it right. It could be he is a jerk and it could be you're impossible to please. Either way, you don't need a $300 judgement against you.