I have a credit score of about 650 and want to improve that score. There are 5 medical bills that are approximately 7 years old and turned over for collection. Would it benefit my credit score to pay these bills?
Yes, since the debt is nearly seven years, I think that you need not pay off the debt because the debt will automatically fall off from your report after seven years and six months from the date you became delinquent. Once it comes out from your report, your credit score will automatically improve. However, in the meanwhile try not to make any late payments towards your existing debts so that you credit history improves. Even if you pay off the bills, your credit score will not improve because these negative items cannot be removed before seven years.
Good advice, CAROL. I have a few Medical Bills, myself ( and some other debts, as well) on my CR. However...........ALL of the 'Fall-Off' dates are in 2009. So..I'm not EVEN gonna touch them! I'm slowly, but, surely, getting my credit cleaned up a bit.
At seven years they are ready to fall off, you should just wait and see what happens in a few months. When do they hit seven years?
Yes, since the debt is nearly seven years, I think that you need not pay off the debt because the debt will automatically fall off from your report after seven years and six months from the date you became delinquent. Once it comes out from your report, your credit score will automatically improve. However, in the meanwhile try not to make any late payments towards your existing debts so that you credit history improves. Even if you pay off the bills, your credit score will not improve because these negative items cannot be removed before seven years.
credit
Good advice, CAROL. I have a few Medical Bills, myself ( and some other debts, as well) on my CR. However...........ALL of the 'Fall-Off' dates are in 2009. So..I'm not EVEN gonna touch them! I'm slowly, but, surely, getting my credit cleaned up a bit.