Question by angiepepa: Will paying off all my debts that have already been turned over to debt collectors raise my credit score up?
My credit score right now is a sad 505 and i want to raise that up as much as I can. I’m in debt with collections a total $ 774.

If i pay all that off at once will it raise my score??

and if anyone can give me GOOD advice on how to raise my score please let me know.

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Best answer:

Answer by SPIFIMAN1
The only way paying old debt that has been sent to collections helps your score is if you can get a pay for delete agreement, this simply says that in exchange for your payment they agree to remove the account from your credit report.

Without this agreement the only thing that will change is the accounts will show as paid with a $ 0 balance and your score will actually drop because a soon as you pay them they become current rather then old accounts.

As far as raising your score, try getting a couple of credit cards and use them for every day things and pay them off in full every month before the due date. This will raise your score fast by establishing a good payment history.

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