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Registered: ‎11-03-2010
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How long does it take for a paid off judgement to drop from your credit?

Hi I am new to this so please forgive any mistakes.

When I turned 18 I did some pretty stupid things. I am now 26 and have spent the last two years paying for those mistakes, for example I had to pay over 1300 dollars for a credit card that originally had a balance of 200, this is one of the five judgements that I have mangaged to pay off over the last two years in addition to other old accounts.  My question is: How long after a judgement is paid off does it take for it to fall off your credit report?  I was under the impression that it was 10 years but I just looked at the SOL for South Dakota and was shocked to find that it is now 20 years! Does the SOL only apply to judgements that aren't paid off? If it really is 20 years are these going to haunt me for the rest of my life? Is this going to make it so that I can't get a house until I turn 45? Does it matter if I no longer live in South Dakota? I've heard that the laws apply to you in whichever state you live in, however the judgements are all in South Dakota.HELP!!!

Please note that also in the last two years I've gotten several credit cards to start building credit, they are working. My score has gone from 507 (in April of '09) to 647 (as of November '10) Will the positive outweigh the negative?

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Re: How long does it take for a paid off judgement to drop from your credit?

 


flower1353 wrote:

Hi I am new to this so please forgive any mistakes.

When I turned 18 I did some pretty stupid things. I am now 26 and have spent the last two years paying for those mistakes, for example I had to pay over 1300 dollars for a credit card that originally had a balance of 200, this is one of the five judgements that I have mangaged to pay off over the last two years in addition to other old accounts.  My question is: How long after a judgement is paid off does it take for it to fall off your credit report?  I was under the impression that it was 10 years but I just looked at the SOL for South Dakota and was shocked to find that it is now 20 years! Does the SOL only apply to judgements that aren't paid off? If it really is 20 years are these going to haunt me for the rest of my life? Is this going to make it so that I can't get a house until I turn 45? Does it matter if I no longer live in South Dakota? I've heard that the laws apply to you in whichever state you live in, however the judgements are all in South Dakota.HELP!!!

Please note that also in the last two years I've gotten several credit cards to start building credit, they are working. My score has gone from 507 (in April of '09) to 647 (as of November '10) Will the positive outweigh the negative?


 

Welcome to the forums.

 

A judgement will be gone after 7 years from filing date whether paid or unpaid.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Established Contributor
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Registered: ‎03-07-2008
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Re: How long does it take for a paid off judgement to drop from your credit?

Hi Flower,

 

Welcome to the forums!!

 

If they are paid, then they will fall off in 7 years from date entered.

 

I just paid off my judgment from 5 years ago and it will fall off in 2 years.

 

Also, I'm getting a home loan now and all that was requested is they are paid.

 

You look ok.

 

Good luck in the future!!

 

Happy:smileyhappy:


Starting Score: 615
Current Score: 709
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Re: How long does it take for a paid off judgement to drop from your credit?

 


happy0510 wrote:

Hi Flower,

 

Welcome to the forums!!

 

If they are paid, then they will fall off in 7 years from date entered.

 

I just paid off my judgment from 5 years ago and it will fall off in 2 years.

 

Also, I'm getting a home loan now and all that was requested is they are paid.

 

You look ok.

 

Good luck in the future!!

 

Happy:smileyhappy:


Whether paid or unpaid the CRTP for judgements is the same 7 years.

 

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

New Member
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Registered: ‎11-03-2010
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Re: How long does it take for a paid off judgement to drop from your credit?

[ Edited ]

Thanks for all of the responses. What a wonderful forum :smileyhappy:

Established Contributor
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Re: How long does it take for a paid off judgement to drop from your credit?


marinevietvet wrote:

 


happy0510 wrote:

Hi Flower,

 

Welcome to the forums!!

 

If they are paid, then they will fall off in 7 years from date entered.

 

I just paid off my judgment from 5 years ago and it will fall off in 2 years.

 

Also, I'm getting a home loan now and all that was requested is they are paid.

 

You look ok.

 

Good luck in the future!!

 

Happy:smileyhappy:


Whether paid or unpaid the CRTP for judgements is the same 7 years.

 

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".


Yes, you are right.  Let me clairify.  They (Attorneys Office) will not be able to renew the judgments to as much as 20 years since they are paid. They will fall off in 7 years for sure and not return since they are paid.


Starting Score: 615
Current Score: 709
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Registered: ‎10-13-2009
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Re: How long does it take for a paid off judgement to drop from your credit?


marinevietvet wrote:

 


happy0510 wrote:

Hi Flower,

 

Welcome to the forums!!

 

If they are paid, then they will fall off in 7 years from date entered.

 

I just paid off my judgment from 5 years ago and it will fall off in 2 years.

 

Also, I'm getting a home loan now and all that was requested is they are paid.

 

You look ok.

 

Good luck in the future!!

 

Happy:smileyhappy:


Whether paid or unpaid the CRTP for judgements is the same 7 years.

 

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".


Not exactly.

 

Although in practice the credit bureaus will drop judgments after 7 years, the FCRA states they may continue to report until the statute of limitations has expired.  This could extend reporting significantly longer than 7 years in some states.

IAALBNYL
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Registered: ‎07-14-2009
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Re: How long does it take for a paid off judgement to drop from your credit?

 


O6 wrote:


Not exactly.

 

Although in practice the credit bureaus will drop judgments after 7 years, the FCRA states they may continue to report until the statute of limitations has expired.  This could extend reporting significantly longer than 7 years in some states.


You are right about that but It seems in most cases the 7 years usually applies. I need to add that the next time I post about judgements.  :smileyhappy:

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
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Re: How long does it take for a paid off judgement to drop from your credit?


marinevietvet wrote:

 


O6 wrote:


Not exactly.

 

Although in practice the credit bureaus will drop judgments after 7 years, the FCRA states they may continue to report until the statute of limitations has expired.  This could extend reporting significantly longer than 7 years in some states.


You are right about that but It seems in most cases the 7 years usually applies. I need to add that the next time I post about judgements.  :smileyhappy:

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".


You're right.  Generally the CRAs just drop them at seven years.

 

I have, however, seen some judgment renewals that have kept judgments on credit reports for a long, long, long time. 

 

 

IAALBNYL
Moderator
Posts: 15,678
Registered: ‎07-14-2009
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Re: How long does it take for a paid off judgement to drop from your credit?

 


O6 wrote:


You're right.  Generally the CRAs just drop them at seven years.

 

I have, however, seen some judgment renewals that have kept judgments on credit reports for a long, long, long time. 

 

 


 

Hopefully those are few in number for the consumer's sake.

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

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