I have about five collection accounts on my credit report and was wondering if I pay these off how many points would I get. I mean is there a way to tell?
You will get exactly - zero points. In the eyes of the scoring models, an unpaid or paid collection are the same. What you should do is negotiate with the ca's for payment for deletion.
I am trying to purchase my first home and my scores are 605,520,500 and they say they go by the middle score so I need sixty more points for 100% financing....So I thought paying them off would help.
Sorry. What you need to do is get rid of them. Have you disputed them as not yours with the cra's? If not, that is the first thing I would do.
