Quote:
Originally Posted by housejunk
Moneyguy, are you sure about this? I've heard the exact same rumour from several people. A drop in your FICO score of 100 is equivalent to a tax lien/bankruptcy. I can't imagine an unpaid parking ticket would result in such a dramatic hit to your credit.
The reason I'm skeptical, is because there are literally thousands of people who simply ignore private parking tickets, and those people must have loans/mortgages as well. I've yet to hear from or of a single person who has experienced a credit hit from an unpaid parking ticket. I'm left to wonder whether it is just fear mongering.
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I am sure about it appearing on the credit report. I checked with an associate who is in this business before making my post. I'm not certain about the 100 pts. My associate quoted that number, but I can't swear to it's accuracy.
Bottom line: If this "debt" is turned over to a collection agency, it will affect your credit rating.