Hi all! I havent posted in a while-but I did want to post a score increase today and tell you all to keep going with gettin your score up there! Here is a time line from where my hubby started to now:
September 04, 2010: Fico 578
January 6, 2011: Fico 683
 Last collection was taken off today and boosted his equifax over 50 points! Keep up all the hard work. It can be done!!!
Over the past few months (and especially in Sept of 2010) I paid off multiple old debts. I know that this ‘starts’ the reporting over again on my Credit Report and can hurt it initially, but that the lowered balances (almost all of my bad debts are now down to 0) can help my FICO scores greatly. I have yet to see any improvement in my scores and was wondering if anyone else has paid off old debts and how long it was before any improvement on your score was seen? Any help would be greatly appreciated! Thank you!
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Wejo
How quickly will a credit card balance pay off show up in your score? I currently owe about $30000 and plan to pay $20000 December 1 with the help of an inheritance.
Has anyone had Credit Score Increase due to Paid Collections? If yes, how many points did your score increase.
I have paid off several creditors and after the first Change that’s it. Nothing, no more changes period. They say it helps if you pay but it your score does not change then No it does not help……Can anyone honestly tell me what’s the amount of actual credit ( your actual score ) that is going to change by paying off a Bill in full or a partial payment? 1 point 5 points?  If nothing is going to change for 7 years I would be smarter to keep the money and just wait..Â
This might seem vague, but what do lenders value more…your score or the items on your report? For example, a general mortgate rule of thumb has been 620. Are they looking only at your score, or can they find a score of 650 and see something in your report that disqualifies you? What about other lenders like credit cards, landlords, etc…I’m just curious and really trying to figure things out.Â
I just want to verify what I have been told. Â If you have a CA on your report, your score does not increase if you pay it off, is this correct? I have a $42 acct on all 3 reports, and it is something I need to pay because it is what is left on a defaulted student loan and I will be going back to school in the fall and in order to qualify for FINAID this has to be paid off.
I am 5 years post-foreclosure at this point and can’t wait for it to roll off in 2012. Does anyone know if a foreclosure’s impact on your score lessens over time or if it is constant until it rolls off?
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Thanks!
Did you notice if your score went up or down after they removed it? I saw somewhere someone said if it’s an old acct but has been paid then they would leave it alone otherwise if they delete it marks as a recent account and takes points away. Can anyone tell me if this is true and if so, how many points was taken off your CR. Thank you! =)
I need a little insight into this: Once a bill goes to collections and is reported on your credit report, is it still beneficial to pay the collection? Will paying the collection help raise your score? How will it be listed if it is paid and will it remain on your report if it is paid?