If I had a bill from years ago turned over to a coll. agency and I pay it off does that help my cred

the bill was a credit card from 10 years ago maybe and they are offering my to pay it at 50% of the bill which was $3300. I know it needs paid but is it going to screw me somehow?

If I had a bill from years ago turned over to a coll. agency and I pay it off does that help my credit score?

If this credit card account was charged off 10 years ago, it should not be showing up on your credit report at all and has no impact on your score. If the card was just used 10 years ago, how long ago did you default on it? The reporting period is 7-1/2 years. Anything over than and the account shouldn%26#039;t be showing up.

If this account has been in default more than 5 years, counter offer 25%. It%26#039;s probably beyond the Statute of Limitation (SOL), the timeframe to bring lawsuit. This means the collection agency probably can%26#039;t do much. Get any settlement agreement in writing and don%26#039;t give them direct access to your bank account.

If I had a bill from years ago turned over to a coll. agency and I pay it off does that help my credit score?

It decreases your credit score when a bill goes to collection. By the sake token, your score should increase after you pay that bill off and it%26#039;s no longer delinquent. Your credit score affects the interest rates and types of credit offers you get, so you may want to think about paying off that bill, especially if it%26#039;s still accruing interest.

If I had a bill from years ago turned over to a coll. agency and I pay it off does that help my credit score?

When you pay it off you need to first request that they send you a letter that stats the account has been PAID IN FULL and ARE IN GOOD STANDING

Then ask them to report the same thing to all the credit reporting agencies also ask that they reage the debt especially if they are offering you a new card and have it all show in good standing

If I had a bill from years ago turned over to a coll. agency and I pay it off does that help my credit score?

You haven%26#039;t paid a $3300 bill in 10 years %26amp; your concern is about your credit score!! You screwed yourself on this, you can be sure your score has already taken a big hit on this %26amp; the bad mark it leaves isn%26#039;t going to be fixed easily. This is the kind of credit history that %26quot;lingers%26quot; long after you%26#039;ve paid it. No mater what anyone else tells you, in the end,there is only 1 way to fix your score %26amp; that is to pay what you owe, on time. Pay the bill but don%26#039;t expect your score to jump dramatically.