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I currently have about 12 collections anything from medical to cell phones. They total up to about $2,100 across 3 different collection companys. If I call them up and agree on a one time payment if the PFD. How much would a credit score increase ?
There is no one answer for this. Your credit score depends on too many factors such as open accounts, payment history, credit utilization, loans etc. Luckily your total balance is relatively low for 12 accounts. However if doing a PFD will delete all of your existing collections there will definitely be some improvement.
@Anonymous wrote:I currently have about 12 collections anything from medical to cell phones. They total up to about $2,100 across 3 different collection companys. If I call them up and agree on a one time payment if the PFD. How much would a credit score increase ?
If you have multiple collections as you have indicated, having a few removed will prove very little to NO score improvement. When you have many derogratory accounts, you will not see a significant score increase until your very last one is GONE.
As everyone has said it would depend on how many negative lines and derogs are on your CR. Paying old collections is always a GREAT START to rebuilding credit for the future though, gets rid of any suprise demons as you approach financial credit freedom!