topic Re: Question about public record in General Credit Topics

Question about public record

senseidab — Fri, 11 May 2007 17:41:40 GMT

If I paid off a judgement near 5 years ago.....it is now just showing up as paid. will my score go up as a result of the status showing paid? TY

Re: Question about public record

Tuscani — Fri, 11 May 2007 17:51:33 GMT

Doubtful. You want it gone. Try a GW letter.

Re: Question about public record

smallfry — Fri, 11 May 2007 18:42:09 GMT

@Tuscani wrote:
Doubtful. You want it gone. Try a GW letter.

I guess its a remote possibility that you could GW a BK or a state tax lien away. If it were possible who would you send this letter to?

Re: Question about public record

Anonymous — Fri, 11 May 2007 20:10:15 GMT

Not sure on how it will have an effect on your FICO, if any... But by having something on your report as Paid isn't going to hurt your financing power.

Re: Question about public record

Anonymous — Fri, 11 May 2007 20:17:22 GMT

I beleive a judgement can stay on for 7 years. Yes it makes a big difference on your creit report whether an account "READS" date closed, paid off etc. I read this on a website some months ago (can't find the link) I then started inquiring about my paid accounts, balanced owed and close date. Yes, my credit score did go up when they were corrected.

Re: Question about public record

Mindnumb — Sat, 12 May 2007 18:23:49 GMT

FWIW, EQ & TU each removed 2 paid tax leins that were filled in 97 and paid in 8/2000. EX was 1 removed, 1 remains.

My request said "they were old and by rule should be removed".

BTW, if you click support on the above right of this page and go to 12 it will tell you that tax leins remain on your credit for 7 years from date filed if paid and stay if not. This is different from what I read everywhere else (7 years from date paid or 15 years)

Oh yes, my EQ dropped 3 points on the same report the tax leins were removed with no other apparent change. EX and TU both went up, but they showed other changes.

Message Edited by Mindnumb on 05-12-2007 11:23 AM

Re: Question about public record

Tuscani — Fri, 11 May 2007 22:07:55 GMT

Acidsniper wrote:
Not sure on how it will have an effect on your FICO, if any... But by having something on your report as Paid isn't going to hurt your financing power.

Paying collections can actually bring down your score.

Message Edited by Tuscani on 05-11-2007 05:07 PM

Re: Question about public record

Anonymous — Sat, 12 May 2007 03:41:35 GMT

Yes...as a rule of thumb do NOT pay a collection or charge-off, because you'll get no credit for doing so.

Exceptions would be if they actually follow through on threats to sue (rare), or if your mortgage provider insists on it (they want their kickback from the original creditor for strong-arming you into paying). Or, of course, if they agree to a PFD in writing.

Message Edited by TheNewWorldMan on 05-11-2007 08:41 PM