If I Pay All Of My Past Due Bills, My Credit Will Go Up. NOT TRUE!!
Does paying off past-due accounts neutralize their negative status?
No. Paid, once-delinquent, debts still show up as severe negatives. It's important to note that credit reports don't just show your current credit situation, but they also show what your credit situation has been in the past. Therefore, past delinquency, collection activity or charge off does a great deal of damage to the credit score even if it was paid off. This is one of the great ironies of the credit reporting system; paying your past-due debts does little to immediately increase your credit score.
However, paying off past due debts is an important step in working with a credit report repair lawyer. We usually suggest resolving debts while we work on your case.
http://www.nocreditnolife.com
No. Paid, once-delinquent, debts still show up as severe negatives. It's important to note that credit reports don't just show your current credit situation, but they also show what your credit situation has been in the past. Therefore, past delinquency, collection activity or charge off does a great deal of damage to the credit score even if it was paid off. This is one of the great ironies of the credit reporting system; paying your past-due debts does little to immediately increase your credit score.
However, paying off past due debts is an important step in working with a credit report repair lawyer. We usually suggest resolving debts while we work on your case.
http://www.nocreditnolife.com
posted by The RE Blogger | 4:47 PM
0 Comments:
Post a Comment
<< Home