once bad debt is paid off and judgments are satisfied how fast and how much can your score go up?

Answer 1

Depends on many items. If you paid off and closed your oldest account your score could drop due to two things. One is that if you closed the account, you have less open accounts and could have shortened your average account age (the length the account was open). You could have also dropped your available credit limit, which means that you may now be using a larger percentage of your available credit. For example, if you have two accounts. One is $1000 and the other one is $100 and both are open and you only had $50 of debt on both, your available credit is $1100 and you are using about 9% of your available credit. You pay off and close the $1000 limit and still owe $50 on the $100. Now your available credit is $100 and you are using 50% of your available credit. There are too many factors used in formulating the score, so basically it may go up, but don't be disappointed if it goes down.

Answer 2

The sad thing is "Not Much", once you pay the debt it still reports that it was owed for 7 years. A Judgement stays on for (7) years. Just the fact that it occured is a reflection on your credit weather it's paid or not. That's why you NEVER pay a debt unless they will delete the debt for payment and then only if it's in writing from the original creditor. NEVER pay a collection agency money..unless they delete off your credit cause it does you NO good to pay these vampires. If it's under $1000 chances are they won't sue for a little amount

Answer 3

It's not going to happen overnight. Even though you pay off the bad debt, the collection accounts still show on your credit report for 7 years.

Answer 4

after 7 years ?

Answer 5

Never.