Question by Big Lance!: NO spammers! Im building a strategy too increase my fica credit rating and open credit card accts.. advice?
I work from home and own a business, now that things are growing i plan on needing a line of credit etc.. i used too have 15 credit cards, department store, jewelry, furniture/visa/mastercard etc… i closed all of them 8yrs ago. that was a mistake as now i have had some spots on my credit and i cannot get credit etc.. i have operated off of debit cards for years now. i own a business and work at home so i have the time and home office too get organized and tackle all of my credit report issues and resolve them etc… i have paid off many auto loans ( installments) and revolving credit accts * credit cards. i have never screwed any lenders or businesses on any debits/loans etc…. the negative shit on my credit history is a 25 thousand dollar entry for medical bills that a guy sued me for in a fight. the reality is that i was a correction officer in a prison years ago and a felon was released after 4yrs. he recoginized me at a blockbuster video store and attacked me with a large chain. i reacted to defend myself and he ended up with over 25k in med bills and he sued me! lol.. a judgement was awarded as he purjured himself and his scumbag lawyer went after me for the amount. i refused and i will never pay a dime and somehow this judgement continually appears on my credit report. this issue has hurt my credit obviously, this judgement was in 1997. i have not heard from he or his scumbag lawyer. Im trying too simply fix my credit and raise my credit score and just qualify for some visa/mastercard etc…also eventually i would like too have a small business credit line and a credit card or 2. i have the option of pre paid secure card accounts thru my bank. i would like to start their and begin negotiating with the credit trw type places. please no spammers with overnight scams on credit repair. im simply seeking answers from those that have knowledge or experience/advice. I appreciate all answers and your time! thanks… do you guys know of a free credit report site that doesnt offer spam or sign ups or my debit card info etc… it seems that these sights want too pull you in and bill ya right away….. a free report helps me figure out where im at and then maybe i could pay for a service if that is necessary. IDEAS? OPINIONS?
why i was sued is irrelevant! i love that compliment by the poster that it doesnt make sense? REALLY? oj simpson being found not guilty makes no sense!
your comments, MAKE NO SENSE! how bout this, lets answer the question! and it has too do with credit!!!
Fast Credit Repair
Best answer:
Answer by Onefish
You may be tubed on the judgment part. In many (but not all states of course), judgments tend to run for 10 years and can get extended by an additional 10 years. It sounds like yours was extended, so you will have that on your record at least until 2017–and it may stay on your credit for the 7 years or so after *that*.
So, with that in mind, your best bet for your business is to incorporate your business (if it is not already) and start trying to create business credit that is independent of you SSN. I would go to sites (or books) that can walk you through that process.
Overall, I think you are pushing water uphill to try and get credit leverage on your personal credit history with that judgment out there.
Addendum: I would be careful about the advice that after 7 years, things “fall off” your credit. That may be true for credit card activity, but that is not the case for judgments. I’ll give you a hard example: say the judgment is recorded in your county. You buy a house–and don’t pay off the judgment–and some bank actually give you a loan. Your judgment creditor could come in and try and execute against your house–and “strip” your bank of its position as a first/second on the mortgage/trust deed. (Assuming there’s enough equity to make an execution worthwhile). The *bank* would have to pay off the judgment creditor if it wanted to hold its position on your trust deed. No bank is going to stand for that…accordingly, there’s a good reason why judgments stay on your credit–even past 7 years. Statutes of limitations aren’t an issue–you presumably were already sued in the limitations period…and got a judgment against you.
Know better? Leave your own answer in the comments!
