Does paying off collections improve your credit score?

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asked Jul 2, 2017 in Credit by Khorev5422 (280 points)

Does paying off collections improve your credit score?

If I have debts that have been sold to collection agencies and I pay them off how long does it take for my credit score to show the collection agencies have been paid and to improve my credit score?

1 Answer

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answered Jul 2, 2017 by Gloria45398 (340 points)
Yes paying off debt that has been sent to collections is a good thing and will help improve your credit score.

A good credit score is a must today. A good credit score helps you get loans, home loans, car loans, and you will usually get a lower interest rate with a good credit score.

Once you pay off the debt collector it can take a month or 2 before it's reported on your credit rating.

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