Frazer Harrison Model Elle MacPherson arrives at the Vanity Fair Oscar Party at Mortons on February 27, 2005 in West Hollywood, California. Photo by Frazer Harrison/Getty Images Chrissy Teigen attends the 89th Annual Academy Awards at Hollywood & Highland Center on February 26, 2017 in Hollywood, California.
The only positive in this situation is that in September, the collection account will be removed from your credit report, which should boost your credit history. The judgment should also be removed from your credit report seven years from the date it was entered. The bad news is the judgment will still be there, even though you can't see it on your credit report, lurking in the shadows, waiting for the worst possible time to leap out and surprise you.
How Long can a Judgment Impact Your Credit Score? I had a judgment against me for a defaulted bank loan for $5,000 six years ago. There was nothing I could do to clear the debt because I was not in any position to make payments, and was looking forward to it disappearing from my credit report eventually.