Is it true that if you pay a credit card debt that been there so long, it could lower your credit score?
402483
Pretty good question.  You might consider this as well, if you have a long (inactive) debt on your record, there may be a line item on your credit report from that company as well indicating that you defaulted.  The ammount may not have been worth their effort to try to collect, but that entry on the credit report may also have an effect on your credit score.  On the other side, it may not be worth your effort to pay the back debt and get the company to resolve the credit issue.  On a third side, you should always pay off your debt as soon as possible just because it is the right thing to due.\n\nRomans 13:8 - Let no debt remain outstanding, except the continuing debt to love one another, for he who loves his fellowman has fulfilled the law.
235578
If you were paying the payments on time then paying off your loan will probably have very little effect on your credit score, positive or negative.\n\nYour question is about Credit Reporting Lag, the time from when you pay off(down) a revolving account or pay off a loan to when it is reported on your credit files. The time frame can be from 30-90 days with the average being about 60 days.\n\nGood Luck
345681
That depends on what you do after you transfer it.\nIf you leave the balance like it is it wouldnt be good because now you have another line of credit. (which can be used to further your debt). It also depends on the limit of your new card. Typically it will be lower than your old one so if you want to transfer the whole balance at once you will be closer to maxing out the new one (percentage wise). This also can bring down your score. Try to keep your card at least 25% below it's limit. I would transfer and pay off a chunk at the same time. Then if the card you are transfering from is your oldest I would shred the card (but dont cancel the account).
173014
Yes, there are several credit card issuers that will approve you for a card if you have bad credit.  There may be some up front fees or you may pay a higher interest rate since you pose greater risk, but at least there are options.  Check out the bad credit section at CreditCards.com (http://www.creditcards.com/badcredit.php)
37131
i would be careful.  they are trying to "reage" the old debt.  See on old debt time runs out that they can contact you, and also put it on your credit score, so they are trying to keep coming after you.\n\nIf it is your debt think about paying it off, if for some reason it is debt that is not yours, throw the paper away and do not do it.\n\nhttp://moremerchant.com probably has info on it.
785892
It will not hurt your credit if you pay off their bill.  If you do not, then it will.  After all you did promise to pay if they do not.
1010822
Let's say you have 4 credit cards with varying balances and interest rates.  You take a loan with a lower interest rate than the cards have and pay them all off.  Now you have 1 payment instead of 4, with a total lower payment than the four combined, and probably a shorter time required to pay the debt off.
692184
paying bills early has no effect on your credit score the best rating you get on that transaction is "paid as agreed".\nYou can maintain a good or better than average credit score by living in the same place for an extended time and being on the same job for an extended time while maintaining some open credit accounts and keeping them "paid as agreed".
93115
I wouldn't bother, it's still going to ruin your credit for X number of years- a settled debt is still a bad debt. I settled a credit card debt, and it was on my credit report as a bad debt for 5 years.
41524
Depends on if you charged that debt to a Visa or M/C or if your medical facility reports it to the credit bureaus.\n\nMost don't...but, some do!
151363
Not unless they report to the credit bureaus.  If they don't report, than it's not doing anything besides delaying your payment.  Most of the time places like that don't report until you are grossely delinquent.
112594
Yes, it's one of the better choices, when trying to keep your credit rating good. Often, you end up paying less than you owe, or get a lower payment, that enables you to pay off the whole amount easier. It's better that you call them too, instead of waiting for them to find you (and find you they will!). I did that with a credit card and got my payments lowered to less than a third of what they were demanding. Of course, I told them it was either that or bankruptcy. They chose the reduced payment. And because of that, my credit score goes up every year that I keep up with my payments. And, I raise the payment by a couple of dollars every 6 months, showing that I'm making an attempt at paying it off quicker, which is something they like. All in all, you owe them money, so it just makes sense that you make whatever arrangements you can to pay it back. <*)))><
328115
They can impact your credit score, although it's hard to say how much.  If you normally pay everything else on time, you won't be hurt as much by one bad account.  However, if you are late on a lot of accounts or don't have a good record with anyone, then you'll see a much larger impact.\n\nIf United Financial is calling you with that threat, they are probably a collection agency.  They may have bought your old debt for a very small percentage of what you owe.  If you are really concerned about your credit but can't afford the $250, you can probably get them to settle for a lot less.  If you tell them you can't afford the entire amount but you want to settle the debt, they may offer you a deal - like $100 to call it even.
112859
If you have satisfied the debt and it's showing a $0 balance, that is not an inaccuracy.\n\nIt also does not bring down your score unless your payment history for that account show slow pays beyond 30, 60 and 90 days.  Additionally, it also brings down your score even if you paid down the account if the payment was received in response to a collection or a chargeoff.\n\nAlso, the reporting of a credit account does not, by itself, bring down your credit score.  Other factors come into play such as\n\n1) How old your credit history is.  \n2) What types of credit you have/had: revolving (credit cards, etc), installment (car loans typically), real estate (mortgages).\n3) Your repayment history and whether your accounts are paid as agreed or whether there have been slow pays\n4) Whether there have been garnishments, collections, liens, bankruptcies\n5) How many inquiries have been made in the past few months (i.e. have you been applying for loans all over town or trying to get credit cards)\n\nUnfortunately, I think you're out of luck on this one.  \n\nUnless you have grounds to have those accounts removed (e.g. that wasn't your account, the payment history is inaccurate), they will continue to be reported for about 5-7 years.  \n\nThe reason for this is that, before approving your credit application, creditors want to know how well you repay credit lines and loans in the past, not just the accounts with open balances.  They also want to know if you're carrying too much debt.
1011838
Unfortunately not. There are many factors that make up your score. The biggest percent is how you pay your bills (timely or not). A few other factors include, the debt to available credit ratio, how long you have had credit, how many accounts you have open, etc. If you go to annualcreditreport. com, you can purchase the score for 5.00. That is the cheapest I have found.
79751
ACTUALLY THERE IS A STATUTE OF LIMITATIONS ON CREDIT CARD DEBT! \n\nIt depends on the state you live in.  You would have to look it up some how.  I know that some states it is 4 years some 5 and others may be a little longer.  \n\nIf you have not recently been contacted by the creditor in relation to the 12 year debt and then PROMISED to pay it - then no.  If you HAVE been contacted and then you said you would pay it.... you just may have screwed yourself.  \n\nThe main thing with old debt - if it is near the statute of limitations, the creditors will start to call you about it.  If you promise to pay it in any way or say you have the ability to do so it opens your statute up again for another "how many" years.  (what ever the statute of limitations is in your state)  \n\nExample on your 12 year debt. If you lived in a state that had a 4 year time period...and  If you hadn't paid anything on that debt, then right around the 4 year mark you would start getting phone calls about the debt - If then you promised in some way  you would pay it... it would extend your statute for another 4 years... then once those 4 years passed & you never paid, you would be nearing your new 4 year statute of limitations they would start calling you again.  If you then promised yet again that you would pay - You just extended that statute Yet AGAIN.  So if you have 12 year old debt and they are calling you on it... this may be what is happening to you.  If you have promised to pay this debt off in the past, you have extended your statute of limitations each time.  \n\nIf you don't intend on paying it cause you just CAN NOT and have no money to do so - DON'T promise that you can.  Tell them "NO - I CAN NOT PAY it".  They will write off your debt.  Once the statute of limitations is past it will be illegal for them to pursue you for that money.  \n\nGood luck.
352273
Yahoo just had something on the homepage about devious "junk buyers" buying old debt for pennies on the dollar and then trying to make you pay even after the statute of limitations had passed-I know there is limits but as to what they are I can not 100% tell you.  \n\nAnd actually it is never 'removed' from your credit report, but companies only 'pull' a 7-10 year history, so it does not show, the debt is always listed on the report, so it never really disappears, just hanging out in old debt land, and if you go for a Senate Hearing or something they will pull it up.\n\nThe report said something about the basement buyers buying the debt and then reporting it as a 'new' debt to get it back active on your Credit Report, which is against the law.  The report also said they target those that paid some debt, because they were more worried about the ramifications of the credit report.  I will research and see if I can find the article-it was an informative read.