not boost your credit score becouse that bad debt or derogatory debt has already been factored into your credit score! So tell me the truth
2006-10-03 08:08:28 · 4 answers · asked by unique 1 in Business & Finance ➔ Credit
Just get a job, and pay money to your bills!
2006-10-06 02:59:04 · answer #1 · answered by Star 4 · 0⤊ 0⤋
Okay, well it depends what KIND Of derogatory do you mean? A paid collection doesn't do much difference than a unpaid one, especially if its old, but if it is paid, you can often negotiate or just dispute it and get it deleted.
An open credit card that is far over the limit becuase you stopped paying DOES need to be fixed. It figures into your score in several ways-- dragging down your utilization ratio (or upping yoru balance VS limits), adding more late pays, etc.
Once things are cleared up you can dispute the bad stuff and often get it fixed...but if you just ignore it nothing can be done. I got 3 old collections deleted and three of my accounts that had late pays changed it to 'pays as agreed' for every single month-- upping my score by 160 points. If i had still been in a bad situation with them, you can bet your butt they wouldnt have wanted/tried to help me out.
2006-10-03 15:53:04 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Some bad debts you should pay for better scores.
Paying other bad debts will worsen scores--often by a lot of points. Want advice on which is which? You need either an E-book or a consultation. See below
2006-10-05 03:20:21 · answer #3 · answered by supercreditguru 3 · 0⤊ 0⤋
true
negative credit of ANY kind stays on the report the required time frame- paid back or written off
2006-10-03 15:16:15 · answer #4 · answered by Mopar Muscle Gal 7 · 0⤊ 0⤋