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Friday, March 12, 2010

If i pay off my deliquent bills will it help my credit rating?

I have not had the money make a payment in almost 2 years now i am getting back on my feet and really want to pay off all my debt so i can get my own place. any suggestions?

If i pay off my deliquent bills will it help my credit rating?
It depends on how far back the bills are. If they're recent bills, Yes pay them off but if you try to pay off old debts like a few years, it can hurt your score just as bad. I know I did that and my score dropped 80 points trying to pay off a old debt. The recent bills, you can call the creditor to do a settlement for the debt.
Reply:Yes, pay them off before they file lawsuits on you and you have judgments against you!
Reply:It may help in time, but you may have to hire a credit attorney to fix your rating. There is a lot of red tape involved with this and an attorney can get this done for you.


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