YAH! Judgment paid - Increase in Score!

[Anonymous]

I just wanted to share this, as I have seen a lot of posts that paying off a judgment will not increase your score...

HOWEVER - I recently paid off a judgment, faxed the satisfaction to the TU and XP (the only two it was reporting to) and saw an increase on my TU of 8 points!!!  Whooo hooo!  And this was the ONLY thing that changed on my report - from unpaid to paid.  So, paying off judgments CAN increase your score!  (doing the happy dance!:

Message Edited by KimberlyC on 10-13-2009 05:40 AM

[XAVIERSMAMA]

How long ago was the judgement place on your CR?  Just trying to get a few more details so we can try to figure out how FICO works

[Anonymous]

The judgment was put on in 4/2008, so it was a year and a half old..

[fused]

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KimberlyC wrote:

I just wanted to share this, as I have seen a lot of posts that paying off a judgment will not increase your score...

HOWEVER - I recently paid off a judgment, faxed the satisfaction to the TU and XP (the only two it was reporting to) and saw an increase on my TU of 8 points!!!  Whooo hooo!  And this was the ONLY thing that changed on my report - from unpaid to paid.  So, paying off judgments CAN increase your score!  (doing the happy dance!:

Message Edited by KimberlyC on 10-13-2009 05:40 AM

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Paying a collection or a public record (judgment) does not improve FICO scores. In FICO scoring, public records with balances owed aren't factored in scoring. If its on your report, paid or unpaid, the damage is the same. Since you had an increase of 8 points on TU, I would check you report for other changes. In any event, congrats on the 8 points!!!

[Anonymous]

Well that's what some people say, but I am here to tell you that I looked the report over and over - and there is not a SINGLE change other than the judgment showing as paid - and I got an increase of 8 points. 

[XAVIERSMAMA]

It's also possible that other things have changed.  Your report is never exactly the same i.e. your AAoA is different each month because accounts become older, old baddies age so they become less current, how your file stacks up against other files in your particular scoring bucket changes (someone's always coming in, someone's always going out)   These types of events alone don't necessarily trigger a score increase/decrease but cumulatively they affect your score.  Even still 8 pts WOO HOO

[Anonymous]

Of course you could be right - it could be some "hidden" thing I can't see.  BUT, I subsribe to CreditCheckTotal so I pull my report each day and had just purchased my TU score 4 days before.  The only change I can see is the judgment showing as paid.  In fact, the reason why I re-purchased my TU score after such a short time was simply to see if I got an increase.  Coincidence?  Maybe.  In any case - I'll take the 8 points happily!!!