Will FICO drop by settling on judgment?

Hersheykiss · ‎02-28-2013

I am so confused right now. I thought I was doing the right thing by negotiating on my judgment. I haven't paid them yet, but promised them a confirmation phone call tomorrow. I am planning on getting a mortgage in the near future. If my score drops, I'm not sure what kind of interest rate I will get. It may not be worth the short time savings of settlement.

My PSECU FICO is 687. What kind of impact can I expect? I have no other collections and a very good paying history for 20 years other than this one from 3 years ago.

guiness56 · ‎02-28-2013

Paid and unpaid is scored the same by FICO, as a judgment. As long as it says satisfied you should be ok.

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Shogun · ‎02-28-2013

+1

Starting Score: 504
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Current scores after adding $81K in CLs and 2 new cars since July 2013
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Hersheykiss · ‎03-01-2013

Ok, great. That is a total relief.