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Posted in Paying Your Bills
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Question By
andytn

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how much will my score be affected if i pay off every debt?
I currently have a 520 Experian and 597 Transunion score, I owe approximately $2,800 over 7 different accounts, they have seemed to refresh themselves over time so I figured instead of hoping they fall off just go ahead and pay them off because I want to buy a house within the next two years. will my credit score go up at all by paying these accounts off? I've heard mixed answers so I would really like some clarification on this please!

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You want to do some Pay for Delete Letters on the accounts that are in Collections.   You want everything in writing other options.

You want every other account Paid off , BUT do Not Close the accounts.

Keep ALL of your Paper work because when you go for a Home Loan they may want to see that the accounts are paid off.

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If they significantly reduce your revolving utilization then they can help.  However, if these are charge offs or collections then they will not really help.

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