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Minime1960

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How does a paid judgement affect credit?

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A paid judgement has a negative affect on your credit and routinely is reflected on your account for 7 years.   The older the judgement is, some creditors will allow allowance, while others will use it in the computation for the life of the judgement. If you have the ability, try to work with the creditor so that it can be paid before any court date and they can retract their court order and it may not appear whatsoever.   Once a judgement has been filed and you make arrangements to pay the judgement, you will have this on your record.   The judgement probably was a result of a collection and/or debt not paid timely, so by the time it made it to the court, it was already a negative on your account.    The key is to always communicate with your creditors when you are having difficulty and work something out well in advance.   Waiting and ignoring the issue is never a good idea. 

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