How much would my FICO increase if I paid back my debt?

unfortunately the answer isn't that simple, No one really knows the formula they use to compute FICO scores, and Fair Isaac does not make that information public as they view it as proprietary. your score will always be damaged because you have a collection agency reporting; even if it is paid. They will most likely report it as "Paid Collection" which while not as bad as an open collection, is still bad.

At this point I always view it like they have played their last card. Since the damage is done, what incentive is there for me to pay now? Paying wont help my credit score that much. The ball is in your court.

Use this to your advantage. Contact them and see if you can come to an agreement. If you are going to pay in full ( which you really should do as you accepted responsibility when you incurred the debt), then make an agreement for payment in full with the following stipulations:

PAID BY MEANS OF YOUR CHOICE ( I recommend a cashier's check or money order sent CMRR or by other traceable service Priority Mail, FedEx, UPS, DHL, etc).

In addition they should remove any negative reports. (if they absolutely refuse on this one, then don't settle for any thing less than reported as "paid" or "Paid in full". If the original creditor reported this debt on your report then under the FCRA one of them has to be removed, as the same debt cannot be reported twice.

Payment will only be sent after receipt of acknowledgment and acceptance of agreement in writing

i think you have to show that you are capable of sustaining that good faith of paying off your debts in time to increase your credit score. So your score might not change at first, but it will take a few months of paying your debts on time to get back near to where it was before the negative report.

its very easy to break a credit score, but its a lot harder to fix it.

It's a definate uphill battle. You will notice big changes as you pay things off...My score has risen 50 points or more in the last few months due to my paying things off and getting inaccurate information removed.

It's very hard work, and you can not expect quick results, or the same results as someone else. But I do know that the more work you put into improving your credit score the better your results will be.

Someone who reports information to the CRA can also delete it. Its the only way to get negative information off your report. It's not a sure thing, thats why I said that if they absolutely refuse to budge, then you want to push for the next best possible report, with is "paid" or "paid in full" with no mention of collections or charge off. You want this agreement in witting from them so if they fail to follow through, you have it in writing to present to the CRA when you file a dispute later.

NEVER give a collector or junk debt buyer any information which gives them access to your money. Once they have your Credit Card number, they can go back at any time and take more out of your account, even without your authorization. You also don't want to give them debit card numbers, or checking or savings account routing or account numbers for the same reason. The laws leave open for you the decision of how to pay them. If they don't want to accept payment by your preferred method then they don't get paid. You document that so that if they try to pursue litigation you can show you were trying to pay the debt and they refused.

By using a cashiers check or money order they cannot later try to put through a ACH or EFT transfer of funds. They get paid but your account information remains isolated. Not to mention that many of these collections agencies hire people with less the stellar morals, and someone may simply lift your account numbers off the paper and use it for other purposes.

Not all agencies report to the three CBR companies. It is very easy for a collections agency to find your social security number. I can think of at least 5 different tools off of the top of my head that gives that information. The first being your CBR.

Some agencies, depending on the client or if they own the debt entirely, will remove negative marks when accounts are paid in full. Not all companies do however be sure to ask.

You stated above that you have recieved letters from them but ignored them so it's safe to say they have your address as well as your name. They do not need your place of birth. All of the other information is easily gotten.