Posted on: 03rd Mar, 2009 09:11 pm
I want to obtain a loan for a swimming pool and want to know whether I will have to satisfy a judgment for an unsecured debt (credit card).
Purpose of the loan is home improvement. you want to opt it through CC. so your question is whether it will require judgment or not. here are considerations those people will look into.
1. loan amount
2. credit score
3. tenure of the loan required
if you are taking small loan then i won't find any need for judgment but surely for bigger amount you will require the judgment. :wink:
1. loan amount
2. credit score
3. tenure of the loan required
if you are taking small loan then i won't find any need for judgment but surely for bigger amount you will require the judgment. :wink:
Hi Guest
If I can understand your question correctly, you have a judgment for an unsecured debt and you want to know whether it could ruin you chances of getting a loan.
Well, as far as I know, this judgment will show up in your credit report and can also lower your credit score. The lender will definitely ask you about the judgment before approving the loan. If you satisfy the judgment, your creditor can update it with the credit bureaus and it will be easier for you to get a loan.
Thanks.
If I can understand your question correctly, you have a judgment for an unsecured debt and you want to know whether it could ruin you chances of getting a loan.
Well, as far as I know, this judgment will show up in your credit report and can also lower your credit score. The lender will definitely ask you about the judgment before approving the loan. If you satisfy the judgment, your creditor can update it with the credit bureaus and it will be easier for you to get a loan.
Thanks.
well, i definitely understand your question. many lenders will require that you pay the judgment in full. some lenders will not. who the latter are is something i cannot answer at this point.
