Credit question, anybody please?? ??

[Anonymous]

Hey guys, in process of ""repairing"" my credit by paying my debts off in full, 

question is and this might sound like a dumb question, but I've never done this before, so when I pay one off in full, by how many points will my score raise, if any? 

[Remedios]

That depends. 

Do you have negative such as lates, charge offs, BK, or is it just high utilization?

Also, how many cards do you have, what are their limits and balances? 

[Anonymous]

No cards at all, score is 580 if that helps, and 4-5 negatives which I'm starting to pay off

[Trudy]

Not a dumb question but that's not how it works.  Do you have any open accounts?  All that @Remedios notes and the specifics are important to help guess what might be your gain(s).  There are just so many moving parts including age of accounts and everyone's credit profile is different so it would require more information to help.

[Anonymous]

Credit Score Breakdown: "according to a well-trusted site/CRA".

CREDIT SCORE 580

On-time payments: 100% **AWESOME**

Credit utilization: 0% **AWESOME**

Avg Age of credit: **FAIR** 1 yr 11 mos (STUDENT LOANS, NOT IN REPAYMENT YET)

Total Accounts: 4 **FAIR** (2 STUDENT LOANS, NOT IN REPAYMENT YET, AND 2 UNPAID DEBTS(THE ONE's IM REFERRING TO) 

Derogatory MARKS: 2 **FAIR** (Guess the 2 unpaid debts?????????????????????????)

Credit Inquiries: 1 **AWESOME**

[SouthJamaica]

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@Anonymous wrote:

Hey guys, in process of ""repairing"" my credit by paying my debts off in full, 

question is and this might sound like a dumb question, but I've never done this before, so when I pay one off in full, by how many points will my score raise, if any? 

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It just doesn't work that way.

There are 2 different kinds of debts: (1) installment and (2) revolving

Your payments towards each of your debts (a) can affect your scores, (b) may have no effect on your scores, or (c) may affect some of your scores but not others.

So we would need much more detail about what debt you have in order to give you a general picture of how to tackle paying things down. But no one will be able to specifically answer how many points you might gain from paying off a particular debt.

[FlaDude]

By "Unpaid debts", do you mean debts with late payments? If so, my guess is that the late payments are probably what is holding your score down. Have the debts been sent to a collection agency? How late are the payments (30 days, 60 days, etc?) Paying off the debts won't erase a negative payment history (the derogatory marks). Payment history will stay on your credit reports for approx 7 years, although could have less effect over time. If you can supply more detail, you will get better answers.