Will this lower my credit score??

[Onlyoneme0205]

Hello everyone. I was thinking about filing for bankruptcy, but would like to know two other things. I want to pay off three things that are on my credit report that's currently in late status. One is from a rental company for unpaid rent (around $1,500) and two are for utility comanies (both combined to around $700). They happened around 2009-2010 when I was seperating from my ex-husband due to domestic violence. If i paid these three things off,will my credit score go up or will it drop since it's been on my credit report for the past 4-5 years? I will be paying the full amount on all three. I want to move next summer after finishing college (currently staying with my mother) and different rental companies told me if i paid those off they might be able to work with me.Should I still file for bankruptcy if I still have other things on there (medical bills,car loan,etc).Any advice is appreciated.

[gdale6]

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@Onlyoneme0205 wrote:

Hello everyone. I was thinking about filing for bankruptcy, but would like to know two other things. I want to pay off three things that are on my credit report that's currently in late status. One is from a rental company for unpaid rent (around $1,500) and two are for utility comanies (both combined to around $700). They happened around 2009-2010 when I was seperating from my ex-husband due to domestic violence. If i paid these three things off,will my credit score go up or will it drop since it's been on my credit report for the past 4-5 years? If it has been reporting monthly no the score will not drop, if it is not updating on a monthly basis it will drop score temporarily as the DOLA comes current to show paid in full.

I will be paying the full amount on all three. I want to move next summer after finishing college (currently staying with my mother) and different rental companies told me if i paid those off they might be able to work with me. Should I still file for bankruptcy if I still have other things on there (medical bills,car loan,etc).Any advice is appreciated. No one is going to tell you whether or not to fie BK based on the info you have given here, we would need a bigger look at your financial problems and amounts there of. If you are considering BK because you have student loans as well, they are not included and cannot be discharged unless you prove extreme financial hardship. Personally I would look to renting from private owners and not management companies its what I did during the middle of a BK..

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[jbrown773]

You should post more information about your situation besides the 3 accounts and I'm sure someone will have a similar situation and can give you better advice on your question. I know from reading through here that old collections dont hurt you as bad as new ones. When I paid off an old collection I didn't see much improvement with my credit score. That might be the case if you did that too. I do know BK drops your score wayyy down >500 . My gf had to file a few years back and she went from 680 to upper 400's. I hope that was somewhat helpful for you.