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My credit score is only 563 and I need 620. I have old debts from 5 years ago if I pay will it help my score?

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My credit score is only 563 and I need 620. I have old debts from 5 years ago if I pay will it help my score?

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6 ANSWERS


  1. Paying off old debt and staying current on new ones will improve your credit rating, but it will take time.

    BTW, there are other reasons you should be paying off 5 year old debts other than for your credit score.


  2. You can use credit repair agency to fix your credit - for example this one - http://creditreport.fateback.com - They can clean lots of bad stuff from your credit report - and do it much faster than yourself, so your credit will go up fast.

  3. Hi,

    I used "Credit Solution" to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58%.It's legitimate.I came across this company on NBC News Special Edition.Check it out here:

    http://is.gd/7il

  4. of course it will. you also may consider writing to the credit bureaus like experian, transunion, or equifax and request a copy of your credit. after you pay your debt send proof to the bureaus and they will update your credit alot quicker, your score will go up faster. good luck!

  5. Probably not.  In another 2 years the old debts will drop off your credit file. If you want to increase your credit score. Just get a small loan for 24 months and pay it back it 12.

  6. To raise your credit score you need to do two things:

    1 - add positive things to your credit records.  Such as paying your bills on time!

    2 - Remove negative things from your records.  These may be mistakes made by the credit report companies or bills you haven’t paid!

    If your problems aren’t too bad or too complicated than you can do this yourself.  This review site gives you e-books to explain the process and guide you through it:

    <>http://www.onlinebestinformation.com/cre...

    if your problem is complex - or you just don’t have the time or patience to do it yourself then you will want to use a credit repair company.  This review site will guide you to the three best companies to use:

    <>http://www.onlinebestinformation.com/cre...

    Good Luck!

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