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How many points will your credit go up when you pay off an old bill?


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2005-11-08 15:47:55
2005-11-08 15:47:55

THERE ARE ALOT FACTORS INVOLVED WHEN POINTS ARE ADDED UNTO YOUR CREDIT SCORE. IF YOU PAY OFF AN OLD BILL YOU CAN RECIEVE ANWHERE FROM 15-20 POINTS ADDED UNTO YOUR CREDIT SCORE. If by the term "old bill" you mean a collection account, then paying it off may not raise your score at all. Credit scoring software disregards the balance (or lack of) on a collection account. The fact that the account is in default PLUS the "date last reported" are what cause deductions to the score. So if this "old bill" had not been recently updated and you pay it, causing it to be updated NOW to reflect a zero balance; you may have just significantly harmed your score.


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first it depends what kind of charge off it is. and your credit score is all up to which credit company your checking your credit on .. there is no real answer to that question.

That totally depends on what your credit score is to start with.

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paying off your credit card bill

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Is there a grant to pay off credit card bills?

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credit scores are not likely to go up simply by paying your balances. But it will help your ratio when your credit is pulled. I do know that scores go down with late payments, credit checks, bankruptcy,

Sure! Assuming that the utility bill is delinquent, refer to the following points below. 1. If it is on your credit report, it will come off after 7 years. 2. You can negotiate with the utility company to pay for removal from your credit report, or at least update it to paid. 3. If the debt is reporting inaccurately, you can dispute it with the credit bureaus in order to have it removed.

Although there is no published system for how credit scores are calculated, [by the credit bureaus] there is also no way to calculate how many points are deducted for negative activity. Your credit score can be decreased by past due accounts, judgments, liens, bankruptcy, repossession, charge-off, settlements, collections, multiple credit applications, agreeing to co-sign, forclosure, high debt to lower income ratio, for example.

yes because points would get tooken off

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