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Issue with car accident..

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vijaya

Junior Member
What is the name of your state? CA
Hello, I was involved in a car accident couple of months back and both of( mine and the person who is involved in accident) our insurence companies concluded that its 50-50 faults. we both payed our deductables. But couple of days back the lady with whom I was involved in accident went to small claims court to sure me over her deductable.
Now I have heard from numorous number of ppl that when this information goes into public listings(actually i too dont know exactlt what it is?) it will efefct my credit rating.
Now my question is, is it true?
if it is? then how much does it usually affet? like how many points it may cause decrease. right now (couple of months bacl when I checkd)my rating was between good to excellent.
Another question is when does actually my name appears in public listing? when some files a law suit or when I losr the case in court?
also what happens if I settle case outside the court? will it prevent my name from appearing in public listing?
any help will be appreciated.
Thanks
 


JETX

Senior Member
vijaya said:
Now I have heard from numorous number of ppl that when this information goes into public listings(actually i too dont know exactlt what it is?) it will efefct my credit rating.
Now my question is, is it true?
Depends on what you mean by 'IT'!!!
If you mean an unpaid judgment, then yes, it can affect your credit.

if it is? then how much does it usually affet? like how many points it may cause decrease. right now (couple of months bacl when I checkd)my rating was between good to excellent.
There is no set value to a judgment. Its impact, if any, depends on LOTS of factors.

Another question is when does actually my name appears in public listing? when some files a law suit or when I losr the case in court?
also what happens if I settle case outside the court? will it prevent my name from appearing in public listing?
The fact of the filing is public record. Anyone who wants to can see that you were sued.
 

vijaya

Junior Member
Thank you for the reply.
What I meant by "IT" is , does some one sueing me in cmall claims court will affect my credit rating? even if I pay the amount to the person?
or if I pay that person outside the court and settle it?
 

seniorjudge

Senior Member
vijaya said:
Thank you for the reply.
What I meant by "IT" is , does some one sueing me in cmall claims court will affect my credit rating? even if I pay the amount to the person?
or if I pay that person outside the court and settle it?
If you get a judgment against you or otherwise settle it, then you need to pay immediately if not sooner and get a satisfaction of judgment. File that satisfaction of judgment with the court.

Then, you will not have to worry about an unpaid judgment showing up on your credit report.


...Lawsuits or Judgments

A court verdict that requires a person to fulfill an obligation -- to pay a debt, for example. When a judgment has been satisfied, the consumer has fulfilled its requirements and is no longer liable. Information about judgments is recorded in the public records section of a credit report....


https://www.econsumer.equifax.com/consumer/sitepage.ehtml?forward=cs_cpo
 

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