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Really Confused!?!?

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Anonymous
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Really Confused!?!?

I am new to the board and after reading the posts I am more confused than when I started. Does paying off passed due closed accounts help me raise my credit score? I am looking to raise my score to help in purchasing a house. But I don't want to pay off closed accounts if it will not make a difference, I would rather pay off open accounts that would. Can someone please clarify. Thank you!
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Anonymous
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Re: Really Confused!?!?

That would depend on what type of accounts and who is reporting them.
 
Even if they do not help your score, they will look much better reporting paid than unpaid during a manual review.
 
If you'd like to post more information(nothing that shares personal information) about each account, we can provide you with a more specific response.

cbhockeygirl wrote:
I am new to the board and after reading the posts I am more confused than when I started. Does paying off passed due closed accounts help me raise my credit score? I am looking to raise my score to help in purchasing a house. But I don't want to pay off closed accounts if it will not make a difference, I would rather pay off open accounts that would. Can someone please clarify. Thank you!



Message 2 of 3
Anonymous
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Re: Really Confused!?!?

Generally, the answer is no, paying closed, charged-off accounts or collections will not help improve your score.

There are, however, a handful of exceptions. Most notably is if the collection is reporting as a past-due revolving account (they're not supposed to, but some do) and thus counting against your utilization.
Message 3 of 3
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