How can you boost credit rating without paying off past debts?

Question

How can you boost credit rating without paying off past debts?

Answer 1

Waiting long enough to they write down your records ( it could take up to 7 years).

Then, open a new account and pay it on time.

That's the way I know.

Answer 2

You really don't, the only way to boost your credit is to pay your debts.

As long as your are paying your monthly payments toward your debt consistently your credit will improve.

Answer 3

If you are carrying balances on your credit cards, pay them off.  Carrying balances of more than 30% of your limit, hurts your score.  Pay off the balance and get a quick boost.

Otherwise, you need at least 24 months of consistent, on time payment history to improve your score.

Creditors look at your whole credit report, not just the score.  Even if your score improves, you will still not qualify for some credit, especially better interest rates.

It takes 7-1/2 years from date of first deficiency for a derogatory item to age off your credit report.  That's a long time to carry that albatross around your neck.

Answer 4

I really don't think there is any way to do that.  You need to pay down your past debts

Answer 5

you can't pay the bills then get letters from them all saying you paid them in full //

Answer 6

the very BEST way 2 improve yer credit is pay yer past debts. additionally, U MAY wanna check out an advertsed website called feedthepig.org. the tips r that U pay yerself B4 any 1 else, & consider cutting up a credit card & tell a friend 2, also. U should ALSO put away parta yer paycheck every single payday. this should B done 1'st B4 paying any 1 else u owe. failure 2 do so will result in yer NOT B'n able 2 eat or yer neglecting yer immedi8 household's needs.

       Only AFTER setting aside $$$ 4 yerself should Upay-off those debts!!!!!!!!!! When U DO pay, set aside the $$$ IF it's gone 2 collections, & when U get enuff 2 pay some 1 then DO IT!!! finally, NEVER cut yerself short. yer $$$ is enuff 4 U 2 live on, just like a single-man life raft is meant 4 only 1 person. this is y paychex r so small, they're meant 4 a single household, NOT the whole world!!!!!

Answer 7

u can't....you must pay off the past debts...they stay their 4  along time

Answer 8

Well, there are a few ways that you can give it a boost.

1. Get anything off your credit report that you can which can be disputed. Sometimes people carry outdated negative ratings they could easily dispute and have taken off.

2. Pay what debts you have open in a timely manner.

3. In some cases, you can file for credit with another individual who has perfect credit, and get a boost from their good credit rating. This is something I do not recommend, as it could cause problems with your relationship with them if you left them with the bill to pay.

4. Don't close any accounts you have paid off and carry a zero balance. Closing a revolving credit account is a ding on your credit rating.

5. Pick the smallest bill you owe and target it for pay off. Save, scrape and scrounge every penny you can to get that thing paid off. Cut out all unnecessary expenses, such as drive-thru money, and get it paid off. Do you have HBO? Cut back on your cable package and put that extra ten bucks into it.

Then do the same for each debt.

I know you asked how to do it without paying your debts, but the method I've outlined will work better than anything else.

You can improve your debt score, but it will take a little work on your part.

I hope I've given you some tips that will help you achieve what you are striving for.