Repairing Credit
Date: Wed, 06/27/2007 - 19:54
If I set up payment arrangements with each creditor, could my credit score increase once I have paid off each debt?
Are you going to pay in full or are you looking to settle with y
Are you going to pay in full or are you looking to settle with your creditors. Your scores will go up if you have a "Paid" or "Paid in Full" or "Paid as Agreed" status besides every account by your creditor.
"Settled" or "Settled in Full" doesn't have a very good impact on your credit since the future lenders will think that you were unable to pay your debts in full to your previous lenders. However, you can convince them that you are not going to be a risk to their finance in the future. It later depends on them whether they are willing to give you new credit.
