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 â€œcharged off the original loanâ€. 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 donâ€™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
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.