I wish my score would improve faster, I am paying off my collections.

A note about Collections: Paying off non-medical collections, although this keeps them from being added back into your debt ratio, can actually lower your score. Once a collection is paid off, it will counted as “new” for the last time and will finally start “permanently aging”. Now credit score points will slowly come back over a period of years. Medical collections although they also take away from your credit score. do not count against your debt ratio. Now if you can get in writing that by paying your collection, the creditor will permanently remove the collection and not just bring it to zero, this will immediately improve your score upon completion.

April 30, 2017 by · Leave a Comment

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