Debt payoff and credit score question?

Hey everyone!

I am really happy to say that since I%26#039;ve split from my husband I%26#039;ve been able to pay off most of my old debts...all except one so far. Those old debts were wreaking havoc on my credit...so now that these have been paid, would my score go up immediately or is this pretty much a work in progress w/ a long way to go? I%26#039;m basically starting over from scratch here. :-)

Debt payoff and credit score question?

work in progress with a little way to go

Debt payoff and credit score question?

I am afraid I have some bad news, take it from someone who is in the middle of cleaning up my credit. I had to hire a lawyer to help me clean my credit. according to the lawyers it is best to negotiate something call payment for deletion before you pay any money. you have to that in writing first. you see just because you pay your debt does not mean that creditors will remove those debt from your credit which is making your score low by the way, it will only show as paid but will remain there for 7 years. my best advise is to seek a lawyer and ask them for the best way to remove those negative from you credit report.

Debt payoff and credit score question?

I think everyone has asked this question. Once you pay all your bills off, it will reflect in your score. by how many points i cant answer. after that it will take time to rebuild your credit score but you will begin to receive credit offers because creditors share this information with one another. just because you paid the debt off do not stop using the cards. make a simple purchase then pay it off immediatelly in full and on time. as you do this, each month it shows that you have been responsible with credit and your score increases a few points. it may seem like it will take forever, but trust me, it doesnt. in one year you will be surprised at how much you can raise your score just paying your bills on time. if you cant pay the balance, pay the minimum on time ALWAYS. Each time it gets reported to the three agencies as paid on time, your score increases. also, to raise your score dont apply for credit because inquiries lower your score. get copies of your credit report and if you see any inquiries older than one year on your report, tell them to take them off. they should do so automaticallyl each year and this raises your score as well. if you have old debt older than seven years, demand it be taken off you will be amazed at how much this will raise your score. also, once you pay creditors in full, ask them to remove negative info from your reports as a reward for paying them off. you%26#039;d be surprised at how many will do this for you.