Rebuilding Your Credit

[ConvexLes]

EQ was reporting the same 2002 judgment twice. I disputed online, and asked them to remove the duplicate record. They removed the duplicate record. So instead of reporting the judgment twice, they are now reporting it as if it was still unsatisfied. (It was actually satisfied in March of 2003) Therefore, I now need to dispute it again... this time I plan to do it in writing. However, if they actually correct the record now... will it stay on my CR for 7 years from now? Or, will it stay on my record 7 years from when it was actually satisfied. (ages ago) I swear they are doing this just to make my life miserable. This isn't the only account they have messed up on my credit report.

[zybysky]

No, they can't re-age your credit report information over a dispute.  When my judgement fell off (7 years had passed) it didn't help out that much, about 5-10 points across the board.  Yours is 2003, so not much older.  Were you properly served papers to appear in court?  Most likely you weren't, and this is your best course of action to have the judgement overturned.  Usually not being served allows you to re-open the small claims suit, enabling you to either fight it or come to an agreement with the plaintiff so that they drop the case for some $$$.  I'd recommend researching this and try to get a lawyer to represent you just for re-opening the case, which entails them drafting a nice letter.  I sent a letter to the courthouse that served my judgement, and was promptly....  ignored.  Probably because I didn't submit properly, but a lawyer could at least make them take you seriously.

[llecs]

It should only be on there 7 yrs in total, rather than 7 yrs from date it was satisfied. There are exceptions if the judgment relates to taxes, SLs, etc.

As far as score goes, it shouldn't change. Just like CAs, I believe the PR reads the same whether paid or not. You may not have any score change if updated.

[ConvexLes]

Okay... The judgment was filed 7/2002. The judgment was satisfied on 3/2003. (Even though Equifax is erroneously reporting it as unsatisfied.) So, does that mean it will be reported seven years from 7/02? (Or from 3/03 - the date it was satisfied?) And... you are saying that as long as it's on my report, it's hurting me to the same degree... regardless of whether it's showing paid or unpaid? Thanks...

[llecs]

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ConvexLes wrote:
Okay... The judgment was filed 7/2002. The judgment was satisfied on 3/2003. (Even though Equifax is erroneously reporting it as unsatisfied.) So, does that mean it will be reported seven years from 7/02? (Or from 3/03 - the date it was satisfied?) And... you are saying that as long as it's on my report, it's hurting me to the same degree... regardless of whether it's showing paid or unpaid? Thanks...

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It should be 7 yrs from 7/02. After posting my last comment I looked at the FCRA and your state may have an SOL greater than the 7 yrs and that time period is allowed in calculating its removal. Odds are it will be gone by next July.

You can always dispute the status of it. There might be a side-effect of doing so that could cause FICO to read it as newer, though. You might want to look around.

And yes, paid or unpaid judgments should be counted equally, but damage diminishes with time. CAs are the same. Some say that COs are like that too but I disagree.