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What is the difference between an agreed judgment and default judgment and will both have equal impact on credit ratings?
Wiki User
∙ 17y ago
There's no difference in how the judgment is entered on a credit report. An agreed judgment indicates the debtor(s) appeared in court but did not have a valid defense as to why the debt was not owed, therefore a judgment was entered against him or her. A default judgment indicates the debtor(s) did not appear in court thereby forfeiting the right to defend the suit, resulting in a default judgment being entered in favor of the plaintiff. The execution procedure of either type judgment is also the same.
Wiki User
∙ 17y ago
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Are Credit Ratings an Assurance of Credit Quality?
No. Credit Ratings should not be viewed as an assurance of credit quality or the exact likelihood of default. Instead, ratings denote a relative level of credit risk that reflects a rating agency's carefully considered and analytically informed opinion as to the creditworthiness of an issuer or the credit quality of a particular debt issue.
Are credit ratings an Expression about Credit Risk?
Credit ratings express opinions about the ability and willingness of an issuer, such as a corporation or city government, to meet its financial obligations. Credit ratings are also opinions about the credit quality of an issue, such as a bond or other debt obligation, and the relative likelihood that it may default. Are provided by Rating Agencies Credit Ratings are provided by Rating Agencies. There are many agencies whose sole purpose is to provide credit ratings about issues. Some of the famous ones are Standard & Poor's, Moody's, Fitch etc.
Details about credit rating?
A credit rating evaluates the credit worthiness of an issuer of specific types of debt, specifically, debt issued by a business enterprise such as a corporation or a government. It is an evaluation made by credit rating agency of the debt issuers likelihood of default Credit ratings are determined by credit ratings agencies. The credit rating represents the credit rating agency's evaluation of qualitative and quantitative information for a company or government; including non-public information obtained by the credit rating agencies analysts. Credit ratings are not based on mathematical formulas. Instead, credit rating agencies use their judgment and experience in determining what public and private information should be considered in giving a rating to a particular company or government. The credit rating is used by individuals and entities that purchase the bonds issued by companies and governments to determine the likelihood that the government will pay its bond obligations.
When should someone open their first credit card?
In my opinion, as soon as possible as length of credit history is a key factor in credit ratings. But if you're going to misuse the credit (run up large balances, default on monthly payments) then don't do it. Bad credit is harder to fix than no credit.
What is Moodys Bank Financial Strength Rating?
"Moody's Bank Financial Strength Ratings reflect Moody's opinion of a bank's intrinsic or stand-alone financial strength relative to all other rated banks globally." This BFSR is a measure of the likelihood that a bank will require financial assistance in order to avoid a default
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