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Question By
wantmylifeback

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I just paid off all accounts on my credit report in collections, how long will it take to adjust off
and possibly increase my score and by how many points?

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thanks

big man

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stays on 7 years from last date of activity.  Affects score less and less as time passes.

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Negative items stay on for 7 years from the time of the negative action, not the date of last activity. Charge offs will remain for 7 years from the date of first delinquency (meaning the date of the first payment that you missed that led to the charge off). Collections will remain for 7 years from the time that the original creditor account became delinquent. Lates will be 7 years from when you were late.

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As to the OPs original question, unfortunately paying things off usually do not result in their removal, it only marks them as paid. You should have tried to negotiate "pay for delete agreements" prior to paying the accounts. If any of the accounts were working against your credit utilization, then having the accounts reflect a $0 balance would be helpful to that. But there is more bad news, if the negative accounts haven't updated for a while, they will update now that you've paid them and the update will most likely cause your scores to drop. All in all though, your credit reports will look much better under manual review and if any of the negatives have been updating monthly, then the accounts should cease to update and that will let your score start to grow. You've definitely made an acheivement, just be patient and persistent and your credit will grow.

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