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Question on Credit Repair


creditrepairstan
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So a few years back with job less etc my credit got pretty bad. With time and know the smarts of this forum I've started to rebuild it. Recently I was even able to open my first 2 non secured cards since my credit got bad and things are on the way up. My scores are now up over 600 (doesn't sound like much until you realize how far down they were!).

 

Well my question is just last week I was sent a warrant in debt on my very last old CC account that was still within the SOLs. I'm working with the Is there a lawyer in the house board and others to beat this in court but I'm thinking worse case scarnerio iwth thie question. If I lose this case and get the judgement entered against will the huge blow of a judgement on my credit report cause these new CC companies to alreayd drop me? I realize it will hurt my credit big time as its a judgement but will it cause this new good will I've gotten with companies to stop taking a chance on me?

 

PS---I fully intended on winning this in court just sort of playing a worse case scanerio here.

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If the old debt is still being reported on your CRs, you should be okay.

 

However, if its been sold, and a JDB pops up on your reports...your new found unsecured CCs may invoke the "universal default" clause in you contract and rate jack you or even close your account.  Same thing if a judgement pops up.

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So a few years back with job less etc my credit got pretty bad. With time and know the smarts of this forum I've started to rebuild it. Recently I was even able to open my first 2 non secured cards since my credit got bad and things are on the way up. My scores are now up over 600 (doesn't sound like much until you realize how far down they were!).

 

Well my question is just last week I was sent a warrant in debt on my very last old CC account that was still within the SOLs. I'm working with the Is there a lawyer in the house board and others to beat this in court but I'm thinking worse case scarnerio iwth thie question. If I lose this case and get the judgement entered against will the huge blow of a judgement on my credit report cause these new CC companies to alreayd drop me? I realize it will hurt my credit big time as its a judgement but will it cause this new good will I've gotten with companies to stop taking a chance on me?

 

PS---I fully intended on winning this in court just sort of playing a worse case scanerio here.

Yes, a judgement will really hurt.  And your existing credit card companies may cancel your account.  

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