cancel
Showing results for 
Search instead for 
Did you mean: 

Will paying a judgement bump my score

Highlighted
New Contributor

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!!

10 REPLIES
Epic Contributor

Re: Will paying a judgement bump my score

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

Contributor

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

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?

 

12/4/12 TU 589 MyFico ~EQ 579 MyFico ~EX 577(Fako)

Myfico 8 scores
7/31/16 TU 710 ~ EQ 699~ Ex 705
My Wallet: Cap1 3,500K ~FH 2950 Credit One 1800~Credit one #2 1500.00~Orchard Bank 400 ~NFCU nRewards 18K~NFCU Cash Rewards signature| 11K ~Care Credit 4,500
Last Negs to fall off: 2-Cap1 CO's PD (fall off 3/17)
Epic Contributor

Re: Will paying a judgement bump my score

Established Contributor

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.

 





Starting Score: TU 573 Exp 523 Lender Pull, Eq 583
Current Score: TU 673, Exp 664.,Eq 672 04/17/2015 TU 741 Equifax 682 Experian 678

Goal Score: 700 across the board


Take the FICO Fitness Challenge

Last HP 6/10/2015
Contributor

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

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

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)


Starting Score: EQ 546 EX 560 TU 568
Current Score: EQ 703 EX 718 TU 715
Goal Score: 750


Take the FICO Fitness Challenge

Moderator Emeritus

Re: Will paying a judgement bump my score

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

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.