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7 answers

at the earliest 30 days. the creditor will have to report to the credit bureaus, so it's up to them. you can always request that they report it as soon as possible and then your credit score will start going up.

2006-09-25 04:56:06 · answer #1 · answered by bella_4624_19 4 · 0 0

It seems to change about 30-60 days after paying something off, but can be any time. If your goal is to get your score up over time, the debt does not have to be paid off to have your score go up. Sometimes paying off debt will not affect your score that much. Having debt itself is not a bad thing. It is missing payments, having more debt than you make, having cards maxed out, etc. You can have 20k in debt if you make 100k, and still have an 800 credit score.

2006-09-25 04:15:48 · answer #2 · answered by BillyBoy 2 · 0 0

Which are you paying off? Credit cards or intallment loans? The loans, paying them off might not help at all-- and might even hurt... the reason is you need good positive accounts to be ongoing and current, not just old closed ones.

Credit cards, if you had higher balances, the score should spike as soon as its reported-- 30 days, usually.

2006-09-25 04:31:11 · answer #3 · answered by Anonymous · 0 0

You will see incremental increases in your FICO. It will be most dramatic upon completion of a "24-month" period of rehabilitation.

Creditors can note when the customer is "rehabilitating" his credit with a perfect 24 month period of timely payments after a "season" of credit defaulting and late payments.

The correct sequence of events is DEFAULT, Pay off in full of ALL DEFAULTS, followed by a 24 month PERFECT payment among ALL creditors with NO JUDGMENTS, COLLECTION ITEMS, or LIENS added to your credit file in the 24 month period.

You must fulfill every single one of these criteria.

If you screw up even one, you GO TO JAIL and you DO NOT COLLECT $200 and you must roll the dice three times or roll "doubles" to get out of jail.

Credit is like a MONOPOLY board.

Play the rules and play responsibly.

2006-09-28 21:32:00 · answer #4 · answered by DaMan 5 · 0 0

Ask the creditors to update your credit reports with payments and then get a copy of your reports (all three) after 30 days of payments... if they don't show up, provide receipts and challenge the information. That will force them to update or remove entries.

2006-09-25 03:51:13 · answer #5 · answered by Anonymous · 2 0

If your debt take you as far as to a court,then the chances are not good.Else it should not be an issue to score back you availables.

2006-09-25 04:38:29 · answer #6 · answered by emmanuel_vandmk 2 · 0 0

get a note from your creditors you have paid it off.

2006-09-28 21:11:32 · answer #7 · answered by Anonymous · 0 0

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