How quickly will my score go up
Date: Fri, 12/15/2006 - 14:26
I have been looking at my 3 in 1 credit report and score. I have about 3500.00 of bad debt that I could pay off in a few months time.
If I start paying these things off how quickly will I see my credit score start to go up? Is there anything that I can do to help improve it once I pay these debts off.
From what I am reading, even if I pay them off, my credit score will still not change until the items actually drop off... if thats the case I would rather reclare bankruptcy..
I know I made mistakes, but I want to buy a house within the next couple of years time frame.. I need to fix this as quickly as possible.
Help
If I start paying these things off how quickly will I see my credit score start to go up? Is there anything that I can do to help improve it once I pay these debts off.
From what I am reading, even if I pay them off, my credit score will still not change until the items actually drop off... if thats the case I would rather reclare bankruptcy..
I know I made mistakes, but I want to buy a house within the next couple of years time frame.. I need to fix this as quickly as possible.
Help
You had the wrong info. Derogatory remarks will improve after th
You had the wrong info. Derogatory remarks will improve after the payments are done on the accounts. The negative status will not be taken off from the file because they will stay till the reporting time is over as put in the FCRA.
What types of negatives are posted in your credit report? Even the lowest credit rating can be improved with a good payment history. But since the credit was already tarnished, a paid off account will do some good.
You might reconsider declaring bankrupcy
Depending on what kind of debt it is you might not be able to declare bankrupcy to clear the amount owed.
I would advise paying the debt off because bankrubcy will appear on your record for seven years.
