Have a judgement against me now for 10 years?

Question

Can having a judgement for a repossession of a car keep me from getting a credit card?

Answer 1

If you had a repossession ten years ago, it should have benn off your report three years back. SO You will need toget that taken care of ASAP! Every state has whats called Statutes of Limitations which governs how long creditors can attact your credit report. You need to check into this and educate yourself as much as possible.

Answer 2

Seeing as how most of the answers here so far didn't even address your question, I will.

To answer your question, yes, a judgment on your credit report may keep you from getting a credit card, or if  you do get one, you will have to pay a higher interest rate than most.

In most cases, lenders are more concerned with recent history more then what happened years ago.  Everybody has made mistakes at one time or another.

Hope this answers your question.

LEGAL DISCLAIMER:  The advice contained herein is for informational purposes only.  It is not to be construed as Legal Counsel nor Legal Advice.

Answer 3

Judgments are only supposed to be on your credit report for 7 years.  After that they must be removed.  So if it's still there...dispute it.

Legal collections are another matter....if the creditor renews it prior to the 10 year expiration date, they can continue to collect for another 10 years.

For this reason...be VERY careful about disputing this with the credit bureaus, as you might just remind the creditor that he has to make a visit to court.