I have a jdugment on my credit report due to a civil lawsuit and I just want to know how this can effect me long term. I am a student, so can it prevent me from requesting student loans? What can it prevent me from doing with a judgment on my credit?
Judgments stay on your credit report for 10 years, even if paid. It will negatively affect your credit for quite some time.
Better fly straight and stop messing up your credit history. If you are a student you better find a way to pay your obligations with some other instrument than a credit card. Miss one payment plus the other crap and soon you will be a dead beat with no credit…
Yes, a judgement will cause you not to be approved for a car loan, mortgage, credit card or pretty much anything. I used to be in the business and would put judgements for debts all the time. It unfotunate but if you do find someone who will grant you credit, it will be at a high rate. I would pay the judgment and carry proof of payment if you ever buy a car or home. That will work in your favor.