Understanding FICO® Scoring

[jd9339]

I've had a judgment on my public recorded for 3 years. I just found out about it 3 months ago when I went to refi my home. The debt has been settled and the creditor is sending me a release of lien which I will record at the court. Does any know how this judgment has effected my score and how will it effect it once it has been released?

[llecs]

It depends. It depends on what else negative is on your report aside from this judgment. For example, if you had a couple others, then removing this will have very little effect, if at all. If this were your only baddie and your reports are perfectly clean, then removing it could net you a large gain. 

[RobertEG]

Filing of release of judgment based on its satisfaction does not remove the judgment from your credit report.

I suggest calling the clerk of the judgment court and ask about the court's policy and procedure for vacating their judgment based on satisfaction.

Some courts will, others wont.

[webhopper]

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RobertEG wrote:

Filing of release of judgment based on its satisfaction does not remove the judgment from your credit report.

I suggest calling the clerk of the judgment court and ask about the court's policy and procedure for vacating their judgment based on satisfaction.

Some courts will, others wont.

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I agree! This would be worth filing a motion to vacate or motion to dismiss... best of luck to you!