3 Ways That Having A Judgement On Your Credit Could Affect Your Future
Being sued -- whether by an ex-landlord for not paying rent or by anyone else -- can be a highly upsetting ordeal, and going to court is not the only thing that you have to dread. If you lose the lawsuit, you might face having a judgement put on your credit, which can affect your future in a few different ways. These are some of the ways that a judgement can make things hard for you later.
1. You Could Have Trouble Finding a Rental
If you rent rather than owning your own home, you should know that finding a rental can be very difficult if you have a judgement on your credit report. This is because many landlords are very careful to screen potential tenants to make sure that they will pay their rent and take care of the home, and if they find a judgement on your credit, then they might assume that you will not be responsible and will not pay your rent as you are supposed to. This can make it very tough for you to find a home for yourself and your family to live in.
2. Your Wages Might Be Garnished
Another thing to watch out for when it comes to garnishments is the possibility of your wages being garnished. Basically, this means that a percentage of your paycheck will go to your debtor each week before you ever see the money. Not only can this prevent you from getting your full paychecks, which you might need so that you can pay your bills and take care of your other responsibilities, but it can also be quite embarrassing for your boss to find out about your personal financial issues.
3. It Might Be Hard to Find a Job
If you're looking for a job right now, you should know that more and more people who are searching for talent for their companies are running background checks and credit checks on potential hires. This is often done with the intention of determining whether or not an employee will be responsible, and if you have a judgement on your credit report, it might be determined that you won't be. This could actually cause you to lose your chance at getting a job.
As you can see, having a judgement on your credit report is not something that you will want to play around with; instead, it can cause pretty serious consequences in your life. If you are facing a lawsuit, hiring an attorney like Stuart J Sinsheimer can help you handle the situation without having a judgement put on your credit report.