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jimmydean2010

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remove derrogatory marks
My current score says I have 5 bad marks on my file. What I am wondering is how many points it goes up once you pay it off and if it can be removed? How much are these marks bringing my score down? Also I have seen on my actual credit report that some of these will be falling off or removed very soon in 2014. Should I wait or call the creditor to remove them now??

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I can tell you about my experience. When I signed up for KC I saw I had two derrogatory marks on my report. One was a medical bill that was relatively small but got lost in the shuffle of being a new parent (it was from delivery). The other one I'm researching because it's a mystery. Anyway. Paying off the medical bill was the first thing I did after signing up for KC and the only thing I did in the first month. It took the creditor a month to remove the mark from my report, but just that one change improved my score by 4-5 points. So it does make a different. Decreasing my utilization 8% and fixing that issue increased my score by 12 points.

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The Fair Credit Reporting Act is a federal directive stating how long credit items will be reported.  The majority will stay on for 7 years.  A Chapter 7 bankruptcy will remain for 10 years.  There are no "loopholes" allowing the items that are yours to be removed before then. 

Paying them off would be a good idea since it will put some positive marks on your credit report and those will reduce the "sting" of the negatives.  But all remarks are part of your credit history and must stay until it is time for them mto drop off.  Sorry.

I have gooten several things improved on my credit score which went up several months ago but is at a plateau, and will remain so until the negatives that are on my report drop off.  I'm okay with this.  I'm just avoiding doing anything else that could drop it.

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