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Paying off a judgement ??

Valued Member

Paying off a judgement ??

Does paying a judgement off and having them write to the credit bureaus as the judgement being satisfied improve my credit score?

 

How long will a judgement stay on my credit report after I settle it? 

 

I tried asking for a pay for delete but they say they can't do that. I was even willing to pay the FULL balance but they said all they could do was say it was settled?

 

Should I just pay if off or look into credit help?

 

I disputed it a few times but it remains.


Thanks!


Current Score: TU 633
Goal Score: EQ 720 TU 720 EX 720

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Message 1 of 6
5 REPLIES
Epic Contributor

Re: Paying off a judgement ??

A judgment is a little different than a CO or a collection account. 

 

A judgments stays for 7 years from the time filed, paid or not.

 

Paying it will not help your score.

 

Why did you dispute it? Is it not yours or not accurate?

Message 2 of 6
Established Member

Re: Paying off a judgement ??

If you have assets and can afford to pay the judgement, pay it.  It will not help your score but if it is fresh and you want credit you may get denied regardless of your score.  But Im not sure if paying it resets the length of time it shows or not.  I thought paid judgement = 7 years and unpaid = 10 years.  Im not sure.


Starting Score: EQ 612 TU 662 EX 670
Current Score: EQ 693 TU 694 EX ??
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Message 3 of 6
New Contributor

Re: Paying off a judgment ??

About the only option you have left is to contact the plaintiff attorney and ask him/her if they will agree to have the judgment vacated. They may or may not but most will since it is paid. They may charge you a couple hundred bucks for doing the paperwork etc. But if you can get it vacated you can have it removed from your CRs


Starting Score 3/9/2010 EQ: 567 800
Current Score: 4/23/2010: EQ: 583 EX 631 TU606/font> 800
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Message 4 of 6
Moderator Emeritus

Re: Paying off a judgment ??

http://myfico.custhelp.com/cgi-bin/myfico.cfg/php/enduser/std_adp.php?p_faqid=14

 

While most negative credit information remains on your credit report for a maximum of 7 years, some information remains longer.  

 

Credit Accounts:
Negative information remains for 7 years from the initial missed payment that led to the delinquency.

Active positive information can remain indefinitely (if an account is closed that has been positive, then it will typically remain on your report for 10 years after the date the account is closed).

 

Collection Accounts:
A collection account remains for 7 years from the initial missed payment that led to the collection.

 

Public Records:

Chapter 7, 11 and 12 bankruptcies remain for 10 years from the date filed.

Completed Chapter 13 bankruptcies remain for 7 years from the date paid, and 10 years if not completed.

Tax liens remain for 7 years from the date filed if paid and remain indefinitely if not paid.

All judgments remain for 7 years from the date filed.

 

Inquiries:

Inquiries remain for 2 years.

 

California State Residents Only (must be current resident):

  • Paid or released tax liens remain on file seven years from the date released or 10 years from the date file
  •  Unpaid or unreleased tax liens remain 10 years from the file date
  •  All consumer-initiated inquiries for the purpose of obtaining a loan and/or benefit remain on the file for two years
  •  All other purge rules as noted above apply

New York State Residents Only:

  • Satisfied judgments remain 5 years from the date filed.
  • Paid collections remain 5 years from the date of last activity.

 

From a BK years ago to:
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802
3/10 EQ- 800

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Message 5 of 6
Senior Contributor

Re: Paying off a judgement ??


Lovelygal31 wrote:

Does paying a judgement off and having them write to the credit bureaus as the judgement being satisfied improve my credit score?

 

How long will a judgement stay on my credit report after I settle it? 

 

I tried asking for a pay for delete but they say they can't do that. I was even willing to pay the FULL balance but they said all they could do was say it was settled?

 

Should I just pay if off or look into credit help?

 

I disputed it a few times but it remains.


Thanks!


 

Guiness56 is right.

 

The only way to have a judgment removed early is by having it vacated.  Simply payng a judgment does not vacate the judgment.

IAALBNYL
Message 6 of 6