Will my credit score improve when I take care of old debts?
I have many medical bills on my credit report that are very delinquent by more then 3 years. I didn’t have medical insurance and had a lot of kidney problems thus racked up the debt. I also have one bank account that was a joint account with my ex husband that I will pay off this year and one bad check which I will also be paying off this year. I have a auto loan that I have not had any late payments on and one auto lone showing payed in full. I also have a line of credit to a local furniture store that is almost payed off that also has no late payments. What else could I do to improve my credit? Is paying off the medical bills going to improve my score and ratings? Thanks
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saved_astronaut said on April 12, 2009
Don’t file Bankrupcy
Yes, it helps. U MUST ask each creditor a Pay-4-Delete Agreement signed by them. NEVER pay w/o this in hand!!! U then negoti8 the debt & B open/honest w/ them, they’re humans, 2.
Miles C said on April 15, 2009
debtreliefoftheusa.com
Go to the FICO source to evaluate your situation:
Kay said on April 16, 2009
What Causes Bad Breath
Delinquent medical bills had alrealdy ruined your credit rating, and paying off does not necessary improve it. But if you don’t pay off, it further erodes your credit rating.
The best way to improve your credit score is to pay 90 to 100% of your revolving charge account balances (credit card and store card balances) each and every month on a timely basis. According to my bank and credit agencies, with this payment practice, you could earn 70 to 100 points of FICO score.
Important thilng is not to spend outside of your means. Until you become debt free, just buy only living essentials like food, gas, toileteries and pay rent (mortgage) and utilities. No fashion or home improvement items that are not essential for you to live.It takes decipline because it’s so easy to charge it. But you can do it if you put your mind to it as I can see you’ve been trying. Also, if your health is better, take a seasonal part time job to earn extra money. It’s a good time to apply. Earning more income is just as important as being frugal on spending. The combination of earning more money and being frugal on spending, you will become debt free in no time.
Keep up the good work and good luck!
Lucille said on April 16, 2009
How To Live Frugally and Cheaply
You can improve your credit score with knowledge, some time, some effort and not a lot of money. Start by learning the credit laws in the United States the big one thatwill help you is that credit bureaus must respond to disputes in a set amount of time or they have to remove disputed items from your credit report.
Get a copy of your credit report and go over it with a fine tooth comb. Find the inaccuracies; almost every credit report has them. Write letters to the credit bureaus, disputing the inaccurate items. If they can’t prove it’s correct or don’t respond in time, the items must be removed.
Lisa J said on April 17, 2009
Don’t file Bankrupcy
Your credit history is just that – history. However, if you owe the money, i think it’s ethical to try to pay it off. Your credit score will improve over time.
Sounds like you are doing a good job with your other lines of credit. Best of luck!
Shaquille G said on April 18, 2009
Todays Cure For Bad Breath
Get a free online auto loan quote. The questionairre will give you results based on your credit and financial situation. It’s free and you can get an answer in minutes.
Credit Guy said on April 19, 2009
discountemporium.info
Now you need some GOOD entries.
1. Borrow at least $5,000. just to hold it on deposit. If you just hold it on deposit, you can borrow it with no credit check at creditloader.com.
2. Make payments on the loan for at least 6 months.
3. Give back the deposit to pay off the loan.
Once you finish, you will have borrowed $5,000. and paid it back in 6 months. Your credit will be pumped up, and you can even do more than one of these if you want. NO CREDIT CHECK.