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badassmonkey11

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Paying derogatory accounts in full drop score?
Paying derogatory accounts in full drop score?

Good question?


I have/had 3 derogatory accounts on my credit since the credit cards were "charged off/profit loss" all in 2007. I paid off 1/3 in full over a year ago, but I am still making monthly payments on the other two. I plan on paying another off in full next month and the 3rd one will be to follow in the next 4 months or so. MY QUESTION: will this make a positive or negative difference to my score once i pay them off? As far as I have been researching all of the accounts will fall off 7.5 years from the date of FIRST DELINQUENCY, not starting from the date of the most recent payment (meaning all three accounts will fall off my reports in 2014). Am i correct in believing paying off the account will not re-age when the status of the account will eventually be reported as "Paid in Full"? The damage had already been done over the course of the past 5 years and I have been working HARD to repay those debts in full. I am looking into buying a house in 2013. I just want to know the best way to go about the final payments for both of those accounts

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