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I have recently paid off all my credit cards thru debt counseling, and 2 collections. How long will it take to improve my credit score with everyhting showing paid?

2007-05-30 09:32:05 · 9 answers · asked by K.C. 5 in Business & Finance Credit

9 answers

I agree with jds

You might do a couple things --
Send a goodwill letter to the collection agencies and ask that they remove the trade lines.
Look over your reports for any inaccuracies being listed and dispute them with the CRA's.

If your lucky the collection agencies will delete after receiving your goodwill letter (but don't count on it)
Chances are better that they won't verify when you dispute the inaccurate info on your reports. If they don't, the trade lines must be deleted.

Don't use the free FACT-ACT reports when disputing since that gives them an extra 15 days to investigate.
Use paid reports, then they only have 30 days to investigate.

2007-05-30 10:07:47 · answer #1 · answered by echo 7 · 1 0

Just because it shows as paid does not mean your score will improve much. Your score is still affected because you were in collections. What you should have done is made a deal with your creditors saying you will pay if they delete all negative items from your report. Now you need to get a line of credit and pay on time and in full.

2007-05-30 09:36:48 · answer #2 · answered by jds 2 · 2 0

You need to spend lets say 100 dollars on a credit card and pay monthly without missing a payment. Credit can only be fixed with making stable payments. Paying off account is only the first step

2007-05-30 09:36:03 · answer #3 · answered by simply-remember 5 · 0 0

You need to check out this video on how to increase your credit score by using a 100% legal loophole. Here is the video URL: http://www.creditscoresecret.org

I was able to get to 595 from 489 in just one day and from 489 to 748 in just a few week; that's pretty fast in my book. Good luck!

2014-09-12 00:51:27 · answer #4 · answered by Anonymous · 0 0

there are a number of many valid credit restore businesses. some may be very costly although, so be careful. be conscious too which you would be able to restore your credit your self in case you want to place it sluggish and attempt into it. each and all the main significant creidt bureaus submit training on a thank you to restoration issues on your credit record. they are Experian, Equifax, and Transunion. circulate to their web content and you will see. you should manage each and each bureau one after the other. working example, in case you spot some thing on your record that doesn't belong to you, you should write down a letter to each and each of those 3 businesses and enable them to renowned that it is not your account. they're going to inspect it and do away with it. credit restore businesses are a convenience which you pay for by using fact they do each little thing for you. They focus on and comprehend each and all the tricks on a thank you to sparkling up your record and in step with probability strengthen your credit, yet keep in mind that there are additionally issues they cant do. in case you have been 60 days previous due on your own loan or automobile fee some months in the past, extra beneficial than probable they cant make that circulate away. My suggestion is to talk to somebody on the corporation first and ask them precisely what they might do for you based upon your credit record and precisely what assure they are offering. make certain you're sparkling on the expenditures that they are going to cost. Ask your realtor in the event that they comprehend of all and sundry who has used them in the past and what wwere the outcomes. look to work out how long the business business enterprise has been in business business enterprise and in the event that they are indexed(do a sprint prognosis on them). basically be completely attentive to what you're entering into in the past you devote to something and you should be positive.

2016-11-23 19:05:50 · answer #5 · answered by ? 4 · 0 0

Not sure about the time, but in a very short amount of time it will show zero balances which is good. Late or missed payments will probably be on your report for a while.

2007-05-30 09:35:13 · answer #6 · answered by hirebookkeeper 6 · 0 1

Well, you can start building good credit right away. But it will take several years before your bad debt history goes away. I believe that number is somewhere around 7. LOL

2007-05-30 09:41:34 · answer #7 · answered by G. H 3 · 0 1

There is a good free ebook on this page. Lots of info.

2007-06-01 21:14:32 · answer #8 · answered by Anonymous · 0 0

6 months to a year..

2007-05-30 09:34:52 · answer #9 · answered by shorty21 5 · 0 1

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