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Answers (3)
Best Answer
- sunnyview
- Contributions:25139
I would not pay off any of the closed accounts before you talk to a knowledgeable lender. Paying old accounts can actually drop your score in certain cases since often they are already being included in your current score and paying them "refreshes them" bringing to the top of the pile again. If the accounts are older than 7 years, you can ask the credit bureau to take them off your report.
You may be able to ask the current negatives to settle for less money or put them on a payment plan for $5 a month each to get them out of the bad account pile. Check with a lender about what to do. There is some information here on improving credit and MyFICO has a lot of good information here.
You may be able to ask the current negatives to settle for less money or put them on a payment plan for $5 a month each to get them out of the bad account pile. Check with a lender about what to do. There is some information here on improving credit and MyFICO has a lot of good information here.
- droopyd
- Contributions:403
If you're having difficulty paying off $800, you probably shouldn't be considering buying a house. Sorry.
- James Y. Kuang, "jkuang626"
- Contributions:29
You would have bad marks but just like a wound, as long as you take good care of it, it will eventually heal.
What I mean is take care of those accounts now and be current on any future payments. Your credit score will slowly improve, not overnight, but slowly.
As for how long, I can't give you a definite answer on that.
What I mean is take care of those accounts now and be current on any future payments. Your credit score will slowly improve, not overnight, but slowly.
As for how long, I can't give you a definite answer on that.
Question about improving credit.
Would taking care of these accounts active and the closed help my credit enough to apply for a loan or would the closed accounts still leave a bad mark since the accounts are closed. I really dont want to file bankruptcy......Thank you!
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