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kt11bravo

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I have 4 accounts in collectons, If i pay them all off at once will my credit score go up a lot?
I have the money to pay off these 4 accounts at once today, I know it takes 30-90 days to show up. My score is very poor at 541, how much should I expect it to go up?

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Unfortunately, there is no instant fix in credit.  The fact that the accounts are in collections is a negative mark on your credit score.  However, you MAY be able to negotiate a "pay for delete" agreement with the card holders asking them to delete the negatives on the accounts for full payment.  You will have to do this in writing.  If they won't do that, then the fact the accounts are paid in full will show on your credit reports but your past history of them having gone into collections will also show for the next seven years. 

Paying on time and not having a balance carried over every month is the best thing to do, and doing so from now on will show fiscal responsibility, which will also boost your credit score quite a bit.

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