Comments on: How much will paying off accounts marked collections improve my FICO? http://nxus.net/how-much-will-paying-off-accounts-marked-collections-improve-my-fico.html Solution to your Niche Question Sat, 15 Oct 2011 00:02:34 +0000 hourly 1 http://wordpress.org/?v=3.1 By: SPIFIMAN1 http://nxus.net/how-much-will-paying-off-accounts-marked-collections-improve-my-fico.html/comment-page-1#comment-4172 SPIFIMAN1 Wed, 09 Dec 2009 19:42:47 +0000 http://nxus.net/how-much-will-paying-off-accounts-marked-collections-improve-my-fico.html#comment-4172 Once accounts go to collections the damage has already been done and the only way to raise your score by paying them is to get them to give you a pay for delete agreement which simply says that in return for your payment they agree to remove the account from your credit. Without this agreement the only thing that will change is the collection will show as paid with a $0 balance and you will actually lower your score when you pay because as soon as you do the accounts become current rather then old. Needless to say don't pay a dime without this agreement in writing Once accounts go to collections the damage has already been done and the only way to raise your score by paying them is to get them to give you a pay for delete agreement which simply says that in return for your payment they agree to remove the account from your credit.

Without this agreement the only thing that will change is the collection will show as paid with a $0 balance and you will actually lower your score when you pay because as soon as you do the accounts become current rather then old.

Needless to say don’t pay a dime without this agreement in writing

]]> By: Mike A http://nxus.net/how-much-will-paying-off-accounts-marked-collections-improve-my-fico.html/comment-page-1#comment-4173 Mike A Wed, 09 Dec 2009 19:42:47 +0000 http://nxus.net/how-much-will-paying-off-accounts-marked-collections-improve-my-fico.html#comment-4173 I dont think the score will go up that much as you will then have paid collection items on your report within the last 2 years thus negatively affecting your score. You are better off using some combination of simple credit repair and an authorized user tradeline program. I think the 2 together should get your score close to 700. Good luck. I dont think the score will go up that much as you will then have paid collection items on your report within the last 2 years thus negatively affecting your score. You are better off using some combination of simple credit repair and an authorized user tradeline program. I think the 2 together should get your score close to 700. Good luck.

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