How much will this improve my score and how long will it take?

Question

I am in the process of attempting to purchase my first home and have 7 judgments from my apartment complex totaling 5339.00 showing up on my credit report dating back as far as 2002. All of these are incorrect. I'm contacting both my apartment manager and the credit bureau, but my question is how much would this improve my score and about how long will this process take?

Answer 1

Best case scenario this will take you atleast 3 months.  Chances are you will get a lot of runaround or lipservice from the creditors as well.  You should just dispute these items online.  We cant really speculate about a score increase without knowing your current score.  

Answer 2

If you are sure you can get these baddies removed, by all means do it before you apply for a mortgage.  If you don't, you will get turned down and then have a ding on your credit just for applying.

What is your score now?  If it is 500, then you might see it jump to 600.  Thing is, it depends on whether or not you have reestablished credit since the baddies.

If it's 600, it might jump to 650.  The higher your score already is, the less points you get back.

Answer 3

this site will answer all your questions: www.creditscore.pro

Answer 4

If they are incorrect and you get them removed your score could go up 100 points or more. You are looking at anywhere from 5-25 points per neg item.

http://creditcardwarehouseonline.com

Answer 5

I was in the same boat as you are two years ago. Hopefully you can get this straightened out. If not I had great success with Lexington Law. They removed two stubborn judgments from my credit report which helped me to get approved!

http://credit-repair-story.com/lexington...

Answer 6

If 7 judgments are removed, you should have a huge score increase!  But you may as well forget about purchasing that house till you get this cleared up.  Mortgage companies are not going to approve you with 7 judgments on your credit.

You might want to contact the court and ask for copies of these judgments.  Are these incorrectly listed in your name or are these the result of some misunderstanding with your apartment complex?

Judgments stay on your credit file for 7 years or the expiration date, whichever is longer.  Judgments are good for 10 to 15 years in a lot of states.

If you do get these removed, your score should improve within 60 days.

Answer 7

You should work out a deal with your apartment manager to repay the debt/correct the error, then get a written letter from whoever put the bad mark on your credit report to begin with, and then send a copy of the letter to all three of the major credit reporting agencies. If the judgements are removed from your credit report, then it should improve your score greatly. If you can't get the errors/judgements removed, then at least you can take heart that they should begin falling off your credit report next year, as negative reports are only supposed to stay on your credit report for seven years.

Answer 8

Unless these items are taken off of your credit bureau report, your score will not improve.