If possible I would like to IM with someone who knows about credit and debt. Thanks so much.
2006-12-19 10:09:19 · 9 answers · asked by janeflame2005 1 in Business & Finance ➔ Credit
IM me, baconshmals, with the yahoo messenger if you want to... I'm a mortgage broker and deal with this daily.
Idealy, at 510, with all debts settled and re-reported to the credit agencies, your score should improve by about 100 in the next year or less.
There are other factors though, like how much debt was involved, and how many accounts open, just to name a couple.
2006-12-19 10:12:33 · answer #1 · answered by baconshmals 2 · 0⤊ 0⤋
The improvements tend to come in 1 year increments, or occasionally 6 months. Something 13 months old counts less than something 11 months old, but there's not a real difference between 11 and 9 months..
2006-12-19 10:20:57 · answer #2 · answered by msmith7811 2 · 0⤊ 0⤋
well if you pay off all your outstanding debts it will take three to six months ,but you should get a letter of satifaction from your creditors and mail copies to the credit scoring company trans union ...that way your in control and what ever credit you have left make sure you pay them on time and no new inquiries ok that will let your score go up TIMELY PAYMT ,NO NEW INQUIRIES
2006-12-19 10:25:31 · answer #3 · answered by MIMI2 1 · 0⤊ 0⤋
years
2006-12-19 10:11:05 · answer #4 · answered by Anonymous · 0⤊ 0⤋
credit Scoring companies seem at your debt stability to entire credit line ratio. regularly you prefer to be around 50% so in case you have extra beneficial than one mastercard pay down those that are on the fringe of their cut back first.
2016-10-05 12:41:45 · answer #5 · answered by ? 4 · 0⤊ 0⤋
It is true it takes awhile to show as paid but depending on why you are asking, keeping proof of payment might help 'til then. I couldn't say how much it could improve or exact time period, sorry.
2006-12-19 10:16:53 · answer #6 · answered by deedoe_2000 2 · 0⤊ 0⤋
if you live in los angeles, i highly recommend taking the credit class here...it costs 50 bux and the counselor will go line by line of your actual credit report.
http://www.lanhs.org/
if you dont i could help you out but i'm no expert
2006-12-19 10:12:32 · answer #7 · answered by Anonymous · 0⤊ 0⤋
iF your credit stays good.. I would think in a few years you should be in the mid 600's
2006-12-19 10:12:21 · answer #8 · answered by tchem75 5 · 0⤊ 0⤋
Approximately one year for everything to show up on your records. They are FAST in making it bad. Slow in making it right.
2006-12-19 10:10:34 · answer #9 · answered by Trollhair 6 · 0⤊ 0⤋