I have been paying off old accounts that have been in collections, but how come my FICO score is not improving
by Author on Saturday, August 28th, 2010 | 6 Comments
I am trying to improve my credit. I paid off a judgement 8 years old, I have paid off 3 collection accounts, and I continously pay each month old collection accounts, but my FICO score is not improving.
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Just because you paid them off that does not cause them to come off your report, instead they will show as either paid, or satisfied, and will remain there for 7 years, unless you got in writing that upon payment of these accounts they will be removed from you credit score.
You have to contact the credit bureaus and your creditors to make sure your credit reports are being appropriately updated.
YOU HAVE TO BE PATIENT! YOU"VE BEEN FKED IN THE ASSHOLE, YOU HAVE TO WAIT 1 WEEK FOR IT TO RECOVER AND BE ABLE TO SHAT RIGHT, NOT JUST 1 DAY
Paying off the old debt looks better than all those unpaid negatives. Check your report to make sure they are being reported as paid. Send proof of payment to the credit bureau to correct if needed.
For your score to improve, you have to have at least a 2 year history of consistent on time payments.
Your on the right track, don’t get discouraged now! I recommend 2 things.Lets address what you have already done first.
1. For the Collection Accounts and Judgment/Public Records, on your credit report, that are now paid in full, you need to dispute them with the credit bureaus. Ask that they be deleted.
2. Any future Collection accounts that you plan on paying off, make arrangements to exchange payment in full for deletion.
I am happy to assist you further if you wish to email me. Good Luck!
Accounts past 2 years dont factor in as much; they can actually push your score lower if you pay them in some cases. Why not consider a seasoned tradeline program? I used 1 after filling out a free evaluation form at http://www.totaldebtsolutionsllc.com My score jumped 90 points in 45 days.