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LaressaJ88

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Paying off old closed accounts.
If i was to pay the balance in full on a account thats been closed for two years would that help or hurt my credit.

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Top Contributor
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It wouldn't hurt your credit (it may in the short term due to an update on the account, but overtime it would come back, but if the balance is being counted toward your utilization now, getting the balance marked to zero may cancel out the damage from the update and may even be an improvement), if the account is already being updated monthly, then the update damage wouldn't apply.

You didn't say if this is an original account with a company or a collection account, or even what kind of account, so I am not sure what to advise you, but do some reading on "pay for delete agreements". This probably will not work though if it is a major bank.

I wouldn't expect any good increases to your scores for paying this unless you can get it removed, but you can prevent a collection popping up in addition to this account (if this applies to you) and you can prevent yourself from being sued if the debt is within the "statute of limitations" to be sued for it in your state.

My best advice to you is to do some further reading and ask some more questions before proceeding.

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