Legal Question in Credit and Debt Law in Georgia

The existence of the lawsuit, even if settled, stays on your report seven years.

It is unclear from your question what the issue is here. If you settled the legal action, did you do so before or after a judgment was entered? If a lawsuit is settled before judgment then there is no record of any public action on your credit report. If you settled after a judgment was entered, then the plaintiff was required to mark the judgment as satisfied. The credit bureaus have their own people report public records and the fact that the judgment was paid/satisfied should be reported as such.

Attorney Ashman is correct that the judgment will stay on your credit report for 7 years from the date of entry

However, the important thing is whether is is reported as paid/satisfied or still unpaid. If it has not been satisfied, I am not sure why. Most states (including GA) have statutes requiring the plaintiff to mark the judgment satisfied within 60-90 days after your payment (or last payment if it was a term settlement). If it has not been done, then you need to write a certified letter to the creditor and demand that it be done. Usually, this is all it takes. I have never had a creditor refuse to mark a judgment satisfied because once you have made the written demand, if the creditor fails to do so, they can be sued and you can recover money damages. Most creditors do not want to pay money to debtors. Also, depending on what court the judgment was entered in, sometimes a debtor can file to have the judgment marked satisfied if there is acceptable proof of satisfaction.

You need to see an attorney who specializes in FCRA/FDCPA law. The attorney needs to see your credit report showing the judgment as unpaid and needs to see your proof of settlement (you should have a settlement lelter or agreement, a copy of your cancelled check and some kind of closure letter or document indicating that the judgment was satisfied or payment was made). Then the attorney will be able to determine what needs to be done.