How can judgment affect my credit score?

I recently found that one of my creditors have filed a case against me regarding a delinquent auto loan. I will obviously contest the case but I want to know what will happen if my creditor win the case? Will he win a judgment against me? If yes, then how will it affect my credit score?

2 Answers

I agree with what Anna has said. As you have a delinquent auto loan, so the creditor may file a lawsuit against you. Once the court issues a judgment against you, then the creditor can garnish your wages or seize your property. This will affect your credit score adversely.

If you really have a delinquent auto loan, then there are high chances that your creditor will win the case and get a judgment against you. If you\'re unable to pay off the delinquent loan, then he will place a lien on your other properties or garnish your wages. This will definitely have a negative impact on your credit score.

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