Effect on FICO score from satisfied judgment

[Anonymous]

How does FICO score a satisfied money judgment from 2003, satisfied in 2007?

Does the satisifed judgment add or subtract on the FICO score?

How much?

[fused]

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fraudfighter wrote:

How does FICO score a satisfied money judgment from 2003, satisfied in 2007?

Does the satisifed judgment add or subtract on the FICO score?

How much?

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In FICO scoring it doesn't matter if the judgment is paid or unpaid, they are both bad and scored the same. I know it stinks but it's true. The good part is this judgment is more than 4 years old and is having less of a negative impact on your scores. Charge-offs, collections, 90+ day lates, judgments and other public records reporting less than to years old will have a major (negative) impact on scores. Recency is the key point here!

[Red1Blue]

You can try to get the judgment removed by filing a motion to vacate the judgement with the court, assuming your creditor would be willing to help you and work with you.

[Anonymous]

People would like to say that when you pay a debt it does help your score improve. I would venture to say not much and if so I would say a mere couple of points if any. Remember a judgement is very bad to have. If you pay you suffer if you don't pay you suffer. When you pay you suffer a little less but only as it relates to future securements of loans. Banks like to see that you have paid or settled your debts rather than to leave them die and wait. I hear people crying about the new overhaul to FICO but don't be scarred.......The credit scoring system will get better and imagine arriving at a perfect score to tell your story of how dependable you are. For the people who do not have one they strive to do better. So what if you are in the 600s it will teach people to be more responsible. Everyone is not the same. Everyone has different ways to dealing with stress and debt repayment obligations. A snapshot of that in the form of FICO score will keep our economy under scrutiny. You don't want to have a 850 and then someone else has the same score for just piggybacking or getting things expunged. The more accurate the better for us all.

[Anonymous]

every negative on your FICO is negative and you must show other good behaviours for it to have a lesser impact not the other way around. If you continue to miss and be late in addition to a judgments there would be little to no improvement on your score. So every negative must be held up by mulitude of perfect spending and debt management behaviours. So i don't buy the less impact becuase you get to 4 years becuase there is a significant impact so long as a person continues to not hold up to their obligations. Its almost like making an A and then making an F. if you score the two together the F is still there and it greatly impacts your score to the point that you are mediocre or less than, but you have to keep making A's before that F can come up to show that you are really an A student.

[Anonymous]

 I had a judgement reported on my Equifax & Experian. It was a mistake in which I had eventually removed. But, I did notice the effect it had (comparing CR frm 10/6/2006 to 11/4/2006) It was not reported on the 10/6 report. I only pulled a new one because of my monitoring told me new activity. It made my Equifax & Experian go up 5 points Trans Union went up 1 point (but was not reported on TU

)Go figure. I should have left it on there.