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I have some accounts in collections that is really messing my credit score up.. where I cant get a home loan. what options do I have? I can pay off the money i owe, but how do I get it off of my credit report and bring my score back up?
Yeah...it would be better for you to pay off your outstanding debts asap. But the collection accounts will remain on your credit report for 7 years from the date of your first default. You may request your creditor to update your account status properly. It will help you to improve your credit score gradually with time.
Hi rmufb47,
Welcome to the forums.
The negative listings will be there in your in your credit report for 7 years, even if you pay off the debts. In order to improve your credit rating, you will have to pay off the debts and avoid incurring any additional ones.
You can't get it off your credit score so fast. You have to atleast wait for 7 years. Take steps to repair your credit score in order to be able to take out a home loan.