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Does paying off judgment increase score?

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brick
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Subject: Does paying off judgment increase score?

Tue Jun 30, 2009 4:38 am

Finally I have been able to pay off the judgment in full. But I wanted to know without having to pay for my report, by how much will my score increase? Are there other ways to increase my score quickly? I do not need a loan immediately but want to build up a good credit record. My score before I paid off the judgment was 630. I do not have any other baddies, except for a few late payments that are about a year old.

Thanks in advance for your help.

rachael

Joined: 11 May 2009
rachael's page
Posts: 244

6581 Magic Points

Tue Jun 30, 2009 6:44 am

Hi brick,

It is difficult to say by how many points your score will increase, after you pay off a judgment. As far as I know, your score will not improve immediately, as a judgment either paid or unpaid will remain on your report for 10 years. But you should make sure that the judgment is listed on your report as " Paid". The reason is that a paid judgment, though derogatory, is still better than a unpaid one.

In order to increase your score, you should look for any possible errors on your credit report, and dispute them. You can find some useful tips to increase your score quickly, if you visit the following link: http://www.creditmagic.org/score/increase-payingoff.html#29680
_________________
Looking forward to a debt-free life.

winnie
Guest

Subject: judgment Vs credit score

Wed Jul 01, 2009 6:02 am

Hi brick,

If you make timely payments for all your current credit accounts, your score will gradually increase. As the judgment gets older, it will have little or no affect on your score.

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