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Thread: Paying off Old Debt...

  1. #1
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    Default Paying off Old Debt...

    My credit score is fucked. Like 540. But I'm only like 6K in debt. So I was thinking I'd just work really hard for a few months and save up the money and just pay it all off and be done with it. I know this won't raise my credit score immediately, but I figured if I do this, then get a secured credit card or a Walmart card or something, maybe in a year or so my score will improve? Am I correct? Is there something I should request my creditors put on my credit report like "paid in full" or something before I pay them?

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    God/dess cinammonkisses's Avatar
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    Default Re: Paying off Old Debt...

    Have them send you a letter saying that your balance has been paid in full. Also, have you pulled up your score recently? Where there charges on there that you feel you aren't responsible for? You could dispute some of those...

    By the way, your score is just a tad bit better than mine







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    Default Re: Paying off Old Debt...

    awww :hugs: it's okay cinni we'll get it together one day soon i hope. and yeah i checked. all the damage is all mine. but it's dumb stuff. like an old phone bill that was $54 and an old light bill that was $32 when i left my college dorm at age 18. Little stuff like that over and over again ate through my credit. I feel like an idiot now!

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    God/dess Emily's Avatar
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    Default Re: Paying off Old Debt...

    bad credit and debt have some connection, but you can have have a LOT of debt and have good credit. You just have to pay your bills on time and have a long history of doing so.

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