Public Record question

[Anonymous]

I have a public record on my CR from a credit card. I have settled the debt and received a letter from the collections lawyers stating the debt was satisfied. I called the courthouse today and the clerks office told me their records also indicate that the debt has been satisfied.

What happens next? Will the public record be removed or just marked as satisfied?  Will my credit score improve as a result? 

Any advice would be appreciated.

Thanks

[Anonymous]

No score improvement and it will report satisfied. It will not be removed. You may need to send the CRA's a copy of satisfaction.

[RobertEG]

Judgments are not excluded based on payment of the debt.

The public record will be updated to show that the judgment has been satisfied, which will make your report look better upon a manual review.

Howver, it will not affect the exclsuion period.

The only way to get the judgment deleted prior to its normal exlcusion period is to have the court actually vacate the judgment, which means it is removed as if it never occured.  Some states permit vacature of a judgment based on satisfaction of the debt, while others do not.

Check out your state statute on permissible reasons for vacating a judgment.

[Anonymous]

I had two public records (judgments) on all three reports. After I paid them and received notification that they were satisfied I called all three CRA. I was successful with Experian and Transunion (they both removed the public records) however, Equifax (as always) would not remove them at all  

I would recommend you call Experian and Transunion and request to have them remove. 

Good luck!