So long as you pay your bills on time, your credit score shouldn't change. Paying down the debt will, of course, help increase your score.
Too many inquires on your credit report can hurt your score since it may appear that you are applying for too much credit at once.
Every time the credit report is accessed, it is lowered slightly.
It only hurts your credit score when someone else pulls your credit report.
It will not affect your credit if you pay off the balance when you close the account.
What do you mean by "fix" it? Do you want this taken off of your credit report? Was the loan legitimately charged off? Do you still owe a balance on the loan? If you have a legitimate charge off reported on your credit report, it cannot be legally removed. If you owe a balance and the charge off is recent, paying off the balance could help. However, the charge off will still show on your credit report for 7 years, and only time will remove it. Still, if you keep your credit in good shape otherwise, the charge off will hurt you less and less as time goes by. Read more about your credit report and score in the link below.
yes they do, they impact your score greatly
Refinancing can affect your credit report, and excessive shopping can also hurt it too.
thats what id like to know
A repossession hurts your credit score whether it is voluntary or not. The creditor will report late payments, a charge off status, and a balance if one is owed. A repossession may hurt your credit score anywhere from 60 to 120 points.
Canceling cards usually does lower your FICO or credit score; if you have a balance on a card, pay it off or transfer the balance to a lower-interest card. Then take scissors and cut up the old card (and any new ones they send you in the future). But then you don't need to actually cancel it.
A repossession can drastically hurt your credit score. The repossessed account may report late payments (30, 60, 90 days late), a pad due balance, and a charge-off. A repossession can lower your credit score anywhere from 30 to 200 points depending on the other accounts reporting on your credit report.
Yes, credit card consolidation will affect your credit score. It will show on your credit report for at least five years, it doesn't hurt as bad as bankruptcy however.