Hi! I have been working on my credit really hard for several years. My current fico score is around 645. All my bills have been paid on time. I have several credit cards that are close to the limits that I know are hurting me by being this high. My question is...I have 2 judgements that I never paid. One is to fall off the end of this month. The next is going to fall off the end of august. Does anyone know if my credit score will increase after this and if so how much? Also is it true that a judgment can be put back on your credit after it's fallen off???
I am not sure how much, if at all, your FICO score will increase when the judgments fall off your credit report.
Although not very common, under certain circumstances a judgment that has fallen off your credit report after 7 years can reappear. In addition to the 7-year credit reporting time period (CRTP), judgments also have a statute of limitations (SOL) on enforcement of the judgment. Just prior to the expiration of the SOL, the judgment creditor can go back into court and get a renewal of the judgment. Depending on the exact process used in your state for judgment renewals and the method the court clerk uses to record the renewal, the judgment could end up being reported again to the credit bureaus and thus reappear on your credit reports. Since this is perfectly legal, there is not much you can do about it.
The good news is that this seldom happens.