I applied for 3 credit cards at about the same time 2 years ago. They all got maxed out, and I never paid any of them after a while, and they got sent to collections. I paid off one, but it didn't seem to help me any in terms of the score. Will paying off the others help? I need to raise my score, but if paying them off won't help me I'd rather wait until I had a good paying job to settle them. I am on the phone with one of the credit people now as I type, but I need assistance on what to do ASAP!!! Please help!!!
2007-09-10 13:05:14 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
Paying one of them probably didn't help your score because the other two were still unpaid. You should pay off these cards now. They are not going away and could take you to court.
You will need to have at least 12 months of on time payment history to offset those 3 negatives.
2007-09-10 13:32:16 · answer #1 · answered by bdancer222 7 · 0⤊ 0⤋
The collection agencies should report your account as "Paid/Settled Previously Charged Off" or similar. The balance will show 0 dollars. This is usually automatic. If you paid them off be sure to have a letter from them that says it is paid. If you don't have one now, contact them and have them send a paid in full letter. Keep this letter because if it ever comes back several years down the road you have proof. It takes a couple of weeks at least for the records to get updated, so sending in a dispute too soon after they paid off may not have been necessary. By the time they get the dispute it will probably have been updated. If by chance they still say you owe it and did not update the items, send them a copy of the Paid In Full Letter. Do this through Certified Mail and not the On-Line Form. As soon as your report is updated with the new information you should see some improvement. The Paid Collection will look a lot better on your account than an Unpaid collection. Then as time goes on it will have less and less effect on your overall report.
2016-05-21 09:42:02 · answer #2 · answered by ? 2 · 0⤊ 0⤋
Secret insider technique erases all debts in 24 hours.
Find out how to increase your credit score in 72hrs!!
Information the BIG 3 credit bureaus don't want you to know!
Get fresh lines of cash in your hands by tomorrow.
Buy a house, car, clothes, go on vacation... whatever.
You can finally buy anything you want... instantly.
Plus: Affiliates, make insane cash just exposing our link.
Product sells MILLIONS, and you never even lift a finger.
Make $1,ooo to $10,ooo per month for doing nothing.
http://usacredithospital.com/BH2211.htm
2007-09-11 01:38:43 · answer #3 · answered by lamew88 1 · 0⤊ 0⤋
Here's a website that really helped me understand credit overall - they even have a service that helps you remove negative items from your credit - they're 100% legal too. I used their service and am so happy i did! Check them out and let me know if you have any questions about the process.
Good luck!
www.secureyourcredit.info
2007-09-10 15:24:08 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Do you have any idea how much interest you are giving them
at 14-25%. That is money you are throwing away. If you paid them off, that money would be in your pocket to do things like creating interest for you (savings, CD's, money market).
2007-09-10 13:25:00 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Pay off the debt that you owe, dont' be a deadbeat.
2007-09-10 13:12:13 · answer #6 · answered by justin c 2 · 0⤊ 0⤋