What happens to your credit score when old debts drop off? I have charge offs that will drop off in

I owe about $5000 in old credit accounts and medical bills, all past due as of 2002. Most of them are charge offs. I am trying to figure out if it will improve my score if I pay them AFTER they drop off my credit reports.

What happens to your credit score when old debts drop off? I have charge offs that will drop off in 2 years...

Debts have sort of an expiration date known as the statute of limitations (SoL) that keeps debt collectors, and even the original creditor, from pursuing it indefinitely. Before you agree to pay an old debt, first make sure the statute of limitations hasn閳ユ獩 expired. If it has, you might not have to pay

Each state has a debt SoL, you need to find out what yours is. If your old debt falls off the credit report (7 years), your score will go up. The FICO (credit) score is based on information in your credit report - the number of credit cards you have, the age of your oldest credit account, the number of applications you%26#039;ve recently made for credit, and the number of delinquent accounts you have.

What happens to your credit score when old debts drop off? I have charge offs that will drop off in 2 years...

not really credit scores are generated mainly by the last 2 years of payment history, if the accounts you now have have been paid current it will help but you wont see a hugh jump when they age past 7 years, its not like they disappear, they will still show but just as an aged account.

What happens to your credit score when old debts drop off? I have charge offs that will drop off in 2 years...

You have to pay these bills. These accounts may be resold by collection agencies to other agencies that may also try to collect. One of my friend%26#039;s FICO score jumped by 66 points, from 643 to 709, after one chargeoff credit card dropped off after 7 years. You have to be current with all other accounts that are not delinquent.