General Credit Topics

[jeffrey_d127]

ok heres the issue i'm paying my debt off and raisinfg my score. The problem i have is a civil judgement that sais it will go away 10/2007 should i still pay this or should i put the money on other accounts. the reason i ask is the credit report sais its for 208.00 but when i call they say its 600 any help would be appreciated.

[HouseHunter]

I've studied up for 3-4 weeks now on credit - was clueless before (and boy was I ever).  A friend of mine has a friend who is a lender and she said DO NOT PAY ANYTHING that is going to drop from your report very soon.  Let it fall off.  When you pay, that's new activity and could potentially end up being on your credit report for another 7-10 years.  If you're only trying to rebuild your credit, you should be okay.  If you're planning on making a huge purchase soon, then either way it could possibly pose problems.

I just learned there are pro's and con's when it comes to things coming off of your report though.  I disputed items on two of my reports.  I had one negative on each of them, the same thing from 7 years ago.  When it came off of TR, that score rose by 98 points.  I just got notice yesterday from EX that they had deleted the account they had on file and my score with them dropped by 43 points and it was my highest score.  Why the descrepancy, I don't know.  It's like walking on eggshells.

[jeffrey_d127]

thanks, i think what i'll do is let them fall of and then pay them in the future if it becomes a problem.

[yoreljm]

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HouseHunter wrote:

I've studied up for 3-4 weeks now on credit - was clueless before (and boy was I ever). A friend of mine has a friend who is a lender and she said DO NOT PAY ANYTHING that is going to drop from your report very soon. Let it fall off. When you pay, that's new activity and could potentially end up being on your credit report for another 7-10 years. If you're only trying to rebuild your credit, you should be okay. If you're planning on making a huge purchase soon, then either way it could possibly pose problems.

I just learned there are pro's and con's when it comes to things coming off of your report though. I disputed items on two of my reports. I had one negative on each of them, the same thing from 7 years ago. When it came off of TR, that score rose by 98 points. I just got notice yesterday from EX that they had deleted the account they had on file and my score with them dropped by 43 points and it was my highest score. Why the descrepancy, I don't know. It's like walking on eggshells.

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HAHA..that is true..it IS like walking on eggshells. Everything is a doudle edged sword. If you have high credit limit, you cant use it cause that will tank you score. If you have low credit limit, you get denied credit cause your limits are low. If your limits are high and you DON'T use it, that is bad too because you have the potential to go into debt if you DO use it.