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dustin256

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if i was to pay off all my debt in two months how long would it be before it effected my creditscore

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Top Contributor
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It typically takes 30 to 90 days

for everything to report and cross report and everything to be updated. 

Credit reporting is a slow moving beheamouth, Nothing happens fast. Unless you want to pay to have it done, Usually when your trying to get a mortgage etc.  but  that ain't cheap. 

I hope your realize, of course, that just becuase you paid something offf doesn't mean your score will automaticlly go up.  Scores are based on your behavior over the last 7 years, the amount you owe only accounts for about 30% of your score. 

Read a few of the articles for more on how this all works.

Good luck

Top Contributor
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Before you get too carried away here, let me ask if you are planning on closing the accounts? Paying down debt or paying credit cards off is good as long as no accounts are closed in the process. Now if you are addressing loans that will close after paying them off, you may be in for a surprise. Usually when accounts close, credit scores go down, not up.

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