I just paid off 10k in bad credit and paid 9 collections. Will my credit score get better and how lo

Paid outstanding balances from small companies to big time bank loans. Eliminated collections ranging from 100 to 1000 dollars. Need to know if this will help my credit as i intend to buy a house after my deployment ends next March 08.

I just paid off 10k in bad credit and paid 9 collections. Will my credit score get better and how long 2 wait?

If this should ever happen again you should request a pay-for-deletion of the collection amounts and pay-offs.

Doing so and getting the collection manager to agree will improve your credit score much more rapidly than collection items showing as PAID on your credit report.

See hyperlink for form letter.

I just paid off 10k in bad credit and paid 9 collections. Will my credit score get better and how long 2 wait?

you should start seeing an improvement w/in 6months to a year

I just paid off 10k in bad credit and paid 9 collections. Will my credit score get better and how long 2 wait?

might have to wait 3-5 years

I just paid off 10k in bad credit and paid 9 collections. Will my credit score get better and how long 2 wait?

It will DEFINATELY help your credit. Your credit score will gradually go up as they come in reported that this is paid to the credit agencies. (equifax etc etc). But I do not think you will notice anything for at least 6 months at the earliest and definately by a year. Most likely you will start getting mail for credit cards and emails if you used your email at all. Dont let them snake you in again! Good luck and grats.

I just paid off 10k in bad credit and paid 9 collections. Will my credit score get better and how long 2 wait?

Well it is a good start. The formula creditors use is going to take a lot more into the equation than what you have done NOW.

They will look at your past payment history, how you have managed your credit previously, what your revolving credit lines are, what your current income is and a host of other items.

Paying off your debt is a good thing. Keeping a managed credit score depends on some good financial planing and implementation of fiduciary responsibility.

9 items in collections at once will waive several warning flags for any Loan agent.

Keep your balances low, no more than 25% on each card and pay it off on time each month. Do not pay just the minimum amount.

High risk loans are out of favor and there will be a high ratio of foreclosures due to high credit risks. I would anticipate a hard time closing your loan.

Good luck.

I just paid off 10k in bad credit and paid 9 collections. Will my credit score get better and how long 2 wait?

You could start seeing an improvement within 30-60 days. You can get a free credit report once a year from www.annualcreditreport.com. Wait about 2 months and check it. You need to be sure to do this at least once a year. Also if you have a bunch of open credit card accounts even if they do not have balances on them they can still lower your score. Try to close as many open accounts as you can. From this point on, always pay on or before the due date or your score will go down for that as well. If you have a bankruptcy it can take 7-11 years to go away. 7 years on a re-po%26#039;d car as well.

I just paid off 10k in bad credit and paid 9 collections. Will my credit score get better and how long 2 wait?

Listen to DaMan. I recently did had all of my debts except my house, car and student loans, taken off my credit report. So far it has been a month and my score has jumped up 90 points. Within the next month it should be in the 700%26#039;s. You should either write the credit reporting agency or call them and explain your case and they will remove or dispute the items.

Get a copy of your crdit report so you can do a before and after comparison. to make sure they have taken the debt off.

Downside is if you remove to much you will be left with no credit and this can bring your score down. You could request that they change the status of your debts to paid in full. This looks very good to potential lenders.

I just paid off 10k in bad credit and paid 9 collections. Will my credit score get better and how long 2 wait?

Yes it will, u need to give it time. It may take like 30 to 90 days to see anything change..

I just paid off 10k in bad credit and paid 9 collections. Will my credit score get better and how long 2 wait?

Actually, there is usually a boomerang effect where it goes down a little more when you pay off old collections then shoots up later. Credit repair can speed this process. If you are deployed, chances are you have time to send the appropriate letters after you are shown the correct verbage, and you are getting free postage. Usually companies charge hundreds of dollars to simply pull your credit and send correctly worded dispute letters閳ユ敄his is the key閳?.people will tell you that you can do this yourself for free but the truth of the matter is that the credit bureaus will throw your letters away or simply reject them. There is an easy to use online kit that will deliver the results you want available for just $19.95 at the source website. A similar kit is being sold via infomercials and radio talk shows for seventy dollars more but they try to solicit you repeatedly for other services after the fact. Good luck!