2007-01-02 05:56:17 · 4 answers · asked by shorty2002 2 in Business & Finance ➔ Credit
Actually, yes. You should notice an immediate increase in your credit score if delinquent debt items are removed by dispute, or by attrition (removed when 7 years old). The increase is larger when you have several accounts that are in good standing on your credit record.
There is a difference between removing delinquent debt items and paying them off. If you pay them off, but the reference remains, then your score will not increase as much initially. It will however still give your score a noticable boost.
2007-01-02 06:17:25 · answer #1 · answered by Anonymous · 0⤊ 0⤋
NO - it takes a lot of hard work to raise your score. The score is set once the delinquent debt is placed on your report. The only way to up your score is to pay on time every time, and obtain more credit other than credit cards, like a car loan or a mortgage, that you again pay on time every time!!
2007-01-02 14:51:39 · answer #2 · answered by BMW BFD 5 · 0⤊ 0⤋
No. It takes a long time and a lot of hard work to raise your credit score, even if you pay off large debts or loans your score will not just instantly jump.
2007-01-02 14:02:12 · answer #3 · answered by ♥♫♥ Crystal ♥♫♥ 4 · 0⤊ 0⤋
It takes time to Up your score as its a track record of your credit behavior...I would say 3-6 months would bring it up some...
2007-01-02 13:58:52 · answer #4 · answered by Scott 6 · 0⤊ 0⤋