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Judgment/Tax Lien - Post Satistfaction

Hello My husband has 2 judgments that we are budgeted to have completely satisfied by Feb 2014. We would like to attempt to have them vacated from his credit report, how do I find out what court to contact to see we are able to have them removed from public records?  Also, how long will it take for him to boos his credit after satisfying the judgment? He just got a very small credit card to use once a month for gasoline in order to establish good payment history.

I have a tax lien that we are budgeted to pay off by next month - November 2013.  This is the only thing besides late payments and some recent collections that is keeping my score down.  I am addressing the later issues, but how long will it take for the lien to not hurt my credit any longer?

We are running into the problem of having done what we can to improve our credit and save a down payment, but the scores may not have bounced back by early 2014.  Thank you!
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October 16 2013 - Marietta
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Credit scores and the topic of increasing them can be tricky without seeing the actual credit because there is so much that factors into the scores. Keep in mind that negative credit such as judgments and collections, once reported, have done the majority of the damage they are going to do to the score. While most lenders won't loan to you with an outstanding judgment, paying it off won't necessarily improve your score because the damage was done when it was first reported. Once the judgment is satisfied it can take 7 years for it to come completely off the credit report but each 6 month increment moving forward from the satsified date will increase your score incrementally. The same thing applies to late payments, once they are reported the only cure for them is time. Scores increase in 6 month increments from the last reported late. Also, keep in mind that the balance of that credit card your husband has needs to stay at or below 30% of the credit limit at all times to maximize the potential score benefit. Even if you pay it off each month don't let the balance get over 30% because without knowing the creditors reporting date you'll never know what they report to the bureau.
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October 16 2013
Time can't be the only thing to improve our scores. On time payments, with balances paid in full should help, no? Also, what about rapid re-scoring if we can get these items showing paid/satisfied?

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October 16 2013
No, you are exactly right, time is not the only thing that will help your scores. Doing a rapid rescore to show the judgment paid probably won't help your score out because like I said before the damage was done when the judgment was first reported. The only way to get the judgment removed would be to dispute it and that won't work necessarily because the judgment was in fact filed which is all the dispute would uncover. If you already have a copy of your credit report I would be happy to look it over for you free of charge and give you specific advice. You can look up my info in my profile. I only lend in Arkansas so in no way am I trying to steer you to me, just glad to help!
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October 16 2013
The moment you have the Satisfaction or Abstract Lien Release from the creditor you have to record it with the County Clerks Office. Once it's been stamped as received and recorded it should take only 30 days to show released on the credit bureaus. If that isn't fast enough for you,  a Loan Officer can  order a correction re-score and have it done in 48-72 hours.

Either way it WILL help raise your credit score, by how much? It difficult to tell without running your credit through the Credit Analyzer. I have been involved with dozens of lien releases over the years and in all cases, the credit score have gone up. Hook up with a good experience Loan Offficer and make sure they understand how the credit system works because what you do or DON'T do can help or hurt your credit scores.

Best of Luck!
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October 16 2013
There are free credit repair sites that list the aging of each type of negative report on credit.

Judgments stay on paid or not paid 7 years.  They are a public record.

No one can tell you how long it will take to raise your score.  Go to sites which offer credit repair advice without a fee.  Read the blogs and articles.  Everything you need to know to create a plan for improvement can be found there.  You will also find sample debt letters to use with creditors and the credit bureaus.
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October 17 2013
 
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