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M9hellman

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i paid off all my collections full amount no questions ask, where do i go from here?
my wife and i have a baby on the way and would like to buy a house in the next year. will that be possible? what do i need to do to build my credit as fast as possible to do so??

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It is good that you paid off your collections as most mortgage lenders will require it before they issue a loan. You really should have tried to get "pay for delete" agreements prior to paying. Simply paying off a collection usually does not remove it from your report unless the company reporting it is super kind. The balance will be updated to $0 but you will still be penalized for having collections on your reports. Do some research on "Goodwill Letters" if the accounts are not removed within the next month. A goodwill letter is a letter that you will send to the company that is listing the collection account on your reports and you will ask them to remove the account. You will also want to get some lines of credit active now and keep them in good standing. If you currently do not have any credit cards you should get 2 or 3, even if they have to be secured. Spend an hour or two a night reading about how to build credit, the internet is full of information. If you play your cards right, you can really move a score in a year.

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