Posts Tagged Public Records Section
Im being sued for a car accident that happened 2 yrs. ago for personal injury, will this show on my credit?
Posted by admin in Law & Ethics on February 22, 2010
sweetgirl asked:
Hello, I was in an accident over 2 years ago ( it was my fault).
Two months ago I found out I was getting sued for personal injury…I have a lawyer and believe this lawsuit is completely ridiculus because I talked to the guy for a good half hour after the accident and he was fine, not to mention his car only had a slight dent in the front corner…anyway, I know about the public records section of credit reports and I just wanted to know if a pending lawsuit will show up on it, or will it only show if I lose the suit and have a judgement against me? I recently checked my credit and so far it doesnt show up but Im worried it will be put on there. Any help would be great!!
JACQUES
Hello, I was in an accident over 2 years ago ( it was my fault).
Two months ago I found out I was getting sued for personal injury…I have a lawyer and believe this lawsuit is completely ridiculus because I talked to the guy for a good half hour after the accident and he was fine, not to mention his car only had a slight dent in the front corner…anyway, I know about the public records section of credit reports and I just wanted to know if a pending lawsuit will show up on it, or will it only show if I lose the suit and have a judgement against me? I recently checked my credit and so far it doesnt show up but Im worried it will be put on there. Any help would be great!!
JACQUES
Things You Should Know About Your Credit Report
Liz Roberts asked:
When applying for credit or taking out a loan, the first thing that your creditor will do is to check your credit report. Based on your credit report, a lender can either grant you an approval or reject your application. For this reason, everyone is advised to personally check on their credit report first before sending out an application to a prospective lender. This way, rejection and unnecessary inquiries in your credit report can be avoided.
What factors affect the status of your credit report? Your credit report is divided into four sections- the identity information, credit history, public records and inquiries. Checking the accuracy of the details in your ID information section is important. One minor error can cause serious problems or mistaken identity.
Meanwhile, your credit history section is what your lenders is most interested about. The types of accounts you own, your debts, your payments, credit limit, and everything that concerns you and your creditors are listed here. Naturally, you’ll want to check if all the charges that are billed in your account are correct and if all the payments you’ve submitted to your lender are recorded accordingly.
The next part of your credit report is the Public Records section. You’ll want this section to be empty unless you’ve filed for bankruptcy once or if you have tax liens or have been through foreclosure. Obviously, a remark listed in this section of your credit report will have a negative impact on your status and your credit score.
Last but not the least, the inquiries section of your credit report contains information about past and present lenders who have made an inquiry in your report. If you frequently submit applications to various lenders and often get rejected, this will all be reflected in your credit report. Take note that too many inquiries and rejections will badly affect your credit score.
Now that you know the factors that make up your credit report, take the time to review every detail in your report. In case you’ve errors, you are free to dispute about them by sending a dispute letter to the credit bureau who issued your report and to your creditor as well. Remember, being aware about the status of your credit report is your personal obligation and is the best way to protect yourself from erroneous reporting and fraud.
What if you found out that your credit score isn’t enough to get an approval from a lender? Do not lose hope. You can still work out on improving your credit score by paying your unpaid debts and keeping up with your payments to your present creditors. By being timely in submitting your payments, significantly reducing the amount owed, and staying within your credit limit, you can be assured that your credit score will improve. So instead of rushing in submitting your credit card or your loan application, take a moment to review your credit report and see if you are in the right position to apply for new credit.
VINCENT
When applying for credit or taking out a loan, the first thing that your creditor will do is to check your credit report. Based on your credit report, a lender can either grant you an approval or reject your application. For this reason, everyone is advised to personally check on their credit report first before sending out an application to a prospective lender. This way, rejection and unnecessary inquiries in your credit report can be avoided.
What factors affect the status of your credit report? Your credit report is divided into four sections- the identity information, credit history, public records and inquiries. Checking the accuracy of the details in your ID information section is important. One minor error can cause serious problems or mistaken identity.
Meanwhile, your credit history section is what your lenders is most interested about. The types of accounts you own, your debts, your payments, credit limit, and everything that concerns you and your creditors are listed here. Naturally, you’ll want to check if all the charges that are billed in your account are correct and if all the payments you’ve submitted to your lender are recorded accordingly.
The next part of your credit report is the Public Records section. You’ll want this section to be empty unless you’ve filed for bankruptcy once or if you have tax liens or have been through foreclosure. Obviously, a remark listed in this section of your credit report will have a negative impact on your status and your credit score.
Last but not the least, the inquiries section of your credit report contains information about past and present lenders who have made an inquiry in your report. If you frequently submit applications to various lenders and often get rejected, this will all be reflected in your credit report. Take note that too many inquiries and rejections will badly affect your credit score.
Now that you know the factors that make up your credit report, take the time to review every detail in your report. In case you’ve errors, you are free to dispute about them by sending a dispute letter to the credit bureau who issued your report and to your creditor as well. Remember, being aware about the status of your credit report is your personal obligation and is the best way to protect yourself from erroneous reporting and fraud.
What if you found out that your credit score isn’t enough to get an approval from a lender? Do not lose hope. You can still work out on improving your credit score by paying your unpaid debts and keeping up with your payments to your present creditors. By being timely in submitting your payments, significantly reducing the amount owed, and staying within your credit limit, you can be assured that your credit score will improve. So instead of rushing in submitting your credit card or your loan application, take a moment to review your credit report and see if you are in the right position to apply for new credit.
VINCENT