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Im2Asian4u

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Need help. I have a lot in collections. If I pay these accounts, will my score improve?
I have a lot of accounts in collections. Mistakes from my past. I am not at a position to get a grasp on things and fix my mistakes. Just curious if I was to pay off these collection accounts, will my credit score increase? After being paid, will it be removed from my credit report or do i have to ask for it to be removed? Are you usually able to negotiate a settlement with an account that is in collections? Trying to bounce back, any advice would be greatly appreciated.

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First thing should be for you to make sure that all of the accounts in collections are actually yours, since errors on credit reports are quite common.  Then, check the Statute of Limitations on Collections for your state (they vary by state).  On any debt where the SOL has expired, just wait for it to drop off your credit report 7 years from the date of first delinquency.  The remaining debts should be paid and you can try to negotiate a 'pay for delete' ageement with them.  You can understand the articles here and this would be the best way to handle things. 

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