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- Why A Drop So Much In My Credit Score?
- Is It Illegal To Check Someone Else’s Credit Report With Out Them Knowing?
- How Long Will It Take For My Credit Score To Raise?
- What Is The Quickest Way To Raise My Score? How Do I Raise It Over Time?
- Is It True That You Can Remove Info On My Credit Report After 7 Years?
- Does Paying My Credit Card Twice A Month Help My Credit Score ?
- How Can You Get Your Credit Report And Score Free Without Going To The Free Annual Report?
- Will Paying Off Or Settling A Irs Judgment Increase My Credit Score?
- Can A 30 Day Late Payment Be Added To My Credit Report 2 Years After The Fact?
- I Want To Sublease An Apt For 2 Months And The Owner Wants My Credit Report And References?
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It depends, if the accounts have already gone to collections paying them off will not improve your score at all as a matter of fact it will actually lower it because when you pay them they will become current rather then old.
The only time paying old collections will help your score is if you can get them to agree to a pay foe delete agreement, this is a simply contract that says that in return for your payment they agree to delete the account from your credit. If they do agree to this get it in writing before you pay them a dime.
If on the other hand these accounts have not been sent to collections and you pay them off your score will increase as soon as your creditors report to the bureaus the next month.
Good luck.
do not agree with riverman. All you have to do is stay current. You can get a copy of your credit reports at http://www.annualcreditreport.com and dispute false information or unworthy information on your credit report. Then attian credit cards that report to all the credit bureaus, and pay bill on time, and pay more than the minimum payment. You will probably increase your score 120 points in the first 6 months.
Hope this could be of great service!
I guess your credit score won’t improve until it can be demonstrated that ALL your debt(s) is(are) paid off.