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How soon/much my current Credit Score can GO UP ?

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I need to fix my Credit History ASAP ----- Currently I owed $ 15,000 total in credit cards loan. All my accounts are about 3 years old and currently with Collections Agencies and most of my original creditors had already “charged off the original loan”. I have total 7 different Collection Agencies trying to collect on me at this time.

Now Currently I am making payments only for my student loans and I don’t have any other current / existing loans.

My Current credit score with Equifax is 607 and 573 with Experian TransUnion.

Now my question is if I make / Settle /negotiate / pay all 15,000 in next 30 days with all the Collection agencies. HOW MUCH MY SCORE CAN GO UP.? Can it go upto 100 points may be 50 point or atleast 20 point up.........

Please can someone tell me this so I can make a decision

In 30 days?? I would assume that you are trying to get a mortgage. It is really unlikely that you will get that achieved in that time frame. Most CA's and creditors only report once a month.

Negotiations and settlements take time. You might have luck with some, but not with others. You will have to negotiate for paid for delete cause a paid/settled collection account doesnt do you any good.

Sub: #1 posted on Mon, 04/27/2009 - 21:10

Moderators Cum Industry Expert
(Posts: 17209 | Credits: 4746.14)

Ok I understand that it will take more than 1 month and I am fine with that. so for example if it takes 3 months and for best senario Collection agencies delete some collections and report "paid in full" etc(all the good comments) How much my score could go up? any idea .......thanks for the info

Sub: #2 posted on Mon, 04/27/2009 - 21:35


Point is that paid in full collection or charge off is still negative.

Sub: #3 posted on Mon, 04/27/2009 - 21:39

Moderators Cum Industry Expert
(Posts: 17209 | Credits: 4746.14)

Guest your best bet is getting the collection account deleted off your credit reports if possible. That is the only way your score will even improve if any from this.

As far as the charge offs, it may be favorable after a passgae of time. Example, in my job when we review credit reports we look for the date and amount that was charged off. It is of little significance to us if it occured over 2-3 years ago. A matter of recent months is definately a red flag to us. Just my 2 cents :?

All in all it depends on the flexibility of your lender. Most are not that flexible :(

Sub: #4 posted on Mon, 04/27/2009 - 21:47

Cool_Abyss Cool_Abyss
(Posts: 2936 | Credits: 173.61)

i owe 891 dollars i am going to pay it off tommorrow i didn t know that i had these bills i am currently paying student loans off only 2500 left if i get this paid will my credit score go up and how long would in take i need a 150 point to get a loan for the school i want to go to and i have three months to get this done

Sub: #5 posted on Wed, 10/14/2009 - 11:32


It will take several weeks to update your credit score after 30days. It will increase your credit score by 20* points.

Credit score never update in just 1 month. So you have to still wait after pay off this debts.


Sub: #6 posted on Wed, 10/14/2009 - 19:14

gunz.ijjistaff gunz.ijjistaff

(Posts: 88 | Credits: 20.08)

How do I dispute information on my credit report from 10 years. The house my
ex has was in both of our names, and he has it. It is on my report and I have nothing to do with it.

Sub: #7 posted on Wed, 10/14/2009 - 20:24


WESLEY....I was looking over your post. You need '150 points" for a school loan? I'm assuming you're talking about your credit score? I never heard that your credit score needed to be a certain 'number', unless you are trying to get a loan from a Private Lender. Please explain your situation..thanks.

Sub: #8 posted on Wed, 10/14/2009 - 20:32

sdchargers_63 sdchargers_63

(Posts: 1798 | Credits: 179.17)

if i take out a personal loan and payoff all my credit cards that is in debt consolidation at this momment......does my credit score go up???

Sub: #9 posted on Thu, 03/04/2010 - 10:28


In one month I seen my transunion went up 44 points afetr I settled alot of my collections. So I'm assuming my equifax and experiaon went up 44 points also

Sub: #10 posted on Fri, 03/26/2010 - 21:38


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