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New Contributor
Posts: 69
Registered: ‎05-31-2012
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Will paying a judgement bump my score

Judgement from 2007 , am about to settle.

 

Am trying to negotiate for them to vacate it but Im not hopeful.

 

If I just pay it and its marked "satisfied" on my report - will this give me any points?

 

This is the last "baddie" on my report - I have no other collections accounts etc.

 

Most recent scorewatch was 692 - Soooo close to 700 I can taste it!!

Epic Contributor
Posts: 22,397
Registered: ‎01-17-2008
0

Re: Will paying a judgement bump my score

Probably not.  I would try till the end to have it removed after paying it.

Contributor
Posts: 81
Registered: ‎05-18-2012
0

Re: Will paying a judgement bump my score

No, you won't see an increase until it has been removed.  Even if the Plaintiff files to have this vacated I believe ultimately it is up to the judge whether he will vacate or not.  I'm sure this also varies by state too.

Established Contributor
Posts: 902
Registered: ‎12-09-2012
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Re: Will paying a judgement bump my score

If a Judgement blance is included in your UTL , then it seems that if it is paid off, even if its not removed, would help the UTL and give a boost... or am I thinking wrong?

 

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Epic Contributor
Posts: 22,397
Registered: ‎01-17-2008
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Re: Will paying a judgement bump my score

Established Contributor
Posts: 920
Registered: ‎08-13-2011
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Re: Will paying a judgement bump my score

I would check your states SOL on judgements, I belive that they can show on your credit report for 7 years from date judgement issued, if not paid, then they can be renewed, and stay  on for another 7 years. Best to pay them and let them fall off report, especially since its been almost 7 years for you. I have 3 judgements on my reports, I had success for 1 removal, the other CRA's won't budge, I might have gained 5-10 points after they were paid, but it wasn't much. I don't think that they affect your utilization at all.

Best wishes.

 





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Contributor
Posts: 100
Registered: ‎12-10-2012
0

Re: Will paying a judgement bump my score

Just in my experience... A judgement was reporting on my CRs from 2/06 from Macy's. It was paid in 2009 to a CA but was never reported to the courts. It actually fell off of my report this month and I saw only a few point bump. Very minimal. I don't know if the impact of a judgement lessens as the years passed or what. I was dissapointed as I was expecting quite a bump Smiley Sad
Epic Contributor
Posts: 22,397
Registered: ‎01-17-2008
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Re: Will paying a judgement bump my score


traveler2005 wrote:

I would check your states SOL on judgements, I belive that they can show on your credit report for 7 years from date judgement issued, if not paid, then they can be renewed, and stay  on for another 7 years. Best to pay them and let them fall off report, especially since its been almost 7 years for you. I have 3 judgements on my reports, I had success for 1 removal, the other CRA's won't budge, I might have gained 5-10 points after they were paid, but it wasn't much. I don't think that they affect your utilization at all.

Best wishes.

 


SOL on judgments is different than CRTP.  A judgment, paid or unpaid, stays for 7 years from date filed.

The SOL on a judgment is how long they have to collect.  If it is not collected on in that time, it can be renewed for the time period again.  But, it can't be put back on your report if the original 7 years have gone by.

 

Tax liens are a different story.

 

New Contributor
Posts: 55
Registered: ‎06-14-2012
0

Re: Will paying a judgement bump my score

So, what you are saying is... seven years go by, the judgement falls off, it CAN NOT be put back on your credit report? Is that correct?

(My husband has one on his that is reaching the 7 year mark)


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Moderator
Posts: 14,034
Registered: ‎04-15-2011
0

Re: Will paying a judgement bump my score

It can be renewed, and since it's a judgement, you can be garnished.

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