I paid off 6 old debts on my credit report in exchange that it be deleted. How many points will I increase

Question

I paid off 6 old debts on my credit report in exchange that it be deleted. How many points will I increase

Answer 1

I assume you got the pay for delete letter. Assuming all your negative information is removed and you have 24 months and more of good credit payment and usage (under 30% of your available credit) on your report, your score should be 700+. This assumes you have never been late and don't have any negative marks on your report. I assume when you paid off the 6 debts you got a pay for delete letter in writing.

Answer 2

There is no 'number' that anyone can ever tell you that would be accurate. The FICO scoring system is ever evolving and even with no change to payment history or balances your score can and will change from month to month. One thing for sure is that it WILL recover and get better IF they are removed COMPLETELY.

Be cautioned, in an attempt to collect a debt companies will tell you it will be removed, but it won't actually happen. They will report it is a 0 balanced outstanding, but the line item on the report itself isn't removed and still will show. I hope you got it in writing. If not, I would try and GET it in writing, otherwise you have no recourse with the credit bureaus. I've seen it happen on so many occasions I can't even count.