In the past four months, I have been paying $1,000 a month to pay off a $4,000 judgment on a Chase credit card account froma few years ago. I was dealing with the loss of my son and simply did not remember to go to the hearing and got a default judgment. In these past four months, my credit bureau reports have dropped by about 35 points due to not paying significantly on the rest of my credit cards. I never miss payments but just not paying as much. My utilization was at 16%. It's now 23%. Experian was around 670 and now it dropped to 635. My FICO is 690 currently.
QUESTION IS: Once I make the last payment on the judgment (in two days), and start using that $1,000 to pay off my $8,100 credit cards, how long will it take before my credit will start going back up. I only owe $48,000 on mortgage and anticipate all credit cards will be paid off in the next nine months. Thank you so much for any feedback you can provide. I have learned so much since I joined this community!
