Tomorrow I Can Pay Off All My Debt of $130,000 - Help Me Do It Right Please

[Anonymous]

Sweet!  If you are able to pull your credit scores once your new lower/paid off balances report, I'd love to hear how much your scores improved from this.  Congrats again on a job well done.

[Anonymous]

Nothing like being debt free, and sleeping good at night.. Great job!!! 

[AverageJoesCredit]

Well done OP Now is the time to enjoy but make sure you dont fall back in same position in future. Im not even close to your debt lol, but when i pay off my 9k in debt im going to celebrate by getting rid of dead weight cards and trimming my profile so i can better manage not getting in debt again. Great job again

[Anonymous]

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@Anonymous wrote:

I've read that paying off big debt in lump sum can sometimes lower your score, I think it's called a windfall. I would care less if I lost a few points, however,  as long as I was debt free.

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I recently paid off all of my revolving debt.  If my scores fall, so be it.  

[RobertEG]

Paying off debt can have negative scoring impacts if the debt is currently delinquent, as the updated reporting to show the debt is paid is also considered an extension of the delinquency on the debt up to the date that it is updated to show paid.

In your situation, update will be from a current good-standing status on all accounts, and will not harm your score........