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After I pay a judgement, will it increase my credit score?

I have 2 accounts in collections within the last year but still report to the credit bureaus that I have late payments. I have 2 other accounts that have been charge off over 3 years old. Which ones should I pay? The earlier or later ones??

After I settle my debt and they are marked as paid, will I ever be able to have good credit again? Thanks!

  1. Reply
    Isn't she lovely
    July 5, 2011 at 6:08 am

    I am in the SAME situation as you and I’m trying to fix my credit. I have about 4 or 5 accounts that i need to take care of. Yesterday I settled an account and the collection agency said that if i pay the money they would delete their whole entry from my credit report and they gave me a letter. If you pay in full and dont’ ask them to remove it they will never take off the negative mark!!! you NEED them to tell you in writing so that way it will fix your credit if they dont remove it theres no point paying because you credit will still be bad. So I told the Collection Agency give me a letter saying you will remove the negative mark in my credit and i’ll pay the settlement amount. and you need it off your account not just “paid” because the late charges and “charge off” will still be there. there’s one on mine that says “paid after charge off” so what good does that do me?? so ask them to take it off THEN pay.. good luck

  2. Reply
    timothy p
    July 5, 2011 at 6:52 am

    If the charge offs are past the statute of limitations in your state worry about them last. The biggest hit to your credit score is coming from the 2 collections in the past year. Simply paying these will not help your credit score although most lender require you pay them when closing on real estate and some other type loans.

    You need to have the collections deleted. A collection is still a big negative on your credit even if paid. Try to obtain a pay for delete contract with the collector before paying these off. Do all communications by mail with return receipts. Keep good records of your communications with them. Never take their word for anything. Never give them personal financial information.

    Your credit score gives much more weight to the past 2 years than it does older items. After you take care of the recent problems then work on the older things. Good luck.

  3. Reply
    July 5, 2011 at 7:30 am

    Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service –

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