Each of us lives only now, in this brief instant. The rest has been lived already. So make the most thoughtful choices you can today that will lead to a better future.
Steve's Thought of the Day
Stop drifting and hoping a magic solution will appear. Instead, you can participate in rescuing yourself. Find peace by pursuing facts through trusted advisers and research rather than the blind trust of salespeople trying to sell you something by almost any means necessary.
Steve's Thought of the Day
Make decisions to deal with your debt with logic and facts, not assumptions, and worry about what other people will think. People who judge you will soon be forgotten. Nobody thinks about anyone that much.
Steve's Thought of the Day
The world is nothing but constant change. Your life is only a perception. Choose a way out of debt based on facts, not assumptions. Do what is best for your future because those that judge you will not feed you.
Steve's Thought of the Day
Do you have a greater responsibility to repair your financial past or your financial present and future? Make good choices that allow you to tackle your debt and immediately start building your emergency fund and saving for retirement. Tomorrow will be here before you know it. Lost time is a sin.
Steve's Thought of the Day
There is no sense in wasting a perfectly good financial mistake. Instead, learn from it and do better moving forward. The past is gone. Turn and face the future now.
Steve's Thought of the Day
Those who judge you for past financial mistakes are not your friends. So don't make choices about your future out of fear of what they may think. Instead, make choices based on truth, fact, and what is best for you moving forward from today.
Steve's Thought of the Day
Don't believe everything you think. Challenge your assumptions about getting out of debt. Do what is best for you, not others.
Steve's Thought of the Day
Is it less moral to file bankruptcy or to not take action that leaves you old, broke, hungry, and dependent on others?
Steve's Thought of the Day
If bankruptcy is so bad, why did our Founding Fathers specifically include it in the U.S. Constitution as protection for financial difficulties?
Stop listening to people that say bankruptcy is a last resort. It is neither first nor last. It is a tool like credit counseling, debt settlement, and others. For the best result, you need to use the right tool for the job.
Steve's Thought of the Day
People that tell you to avoid bankruptcy want to sell you something else are repeating something they heard or do not know what they are talking about. Get the facts and then make your own decision. Don't let an unskilled script-reading commissioned salesperson make life decisions for you.
Steve's Thought of the Day
Debt problems are like fingerprints. No two are alike. A one-size-fits-all solution will give you a one-size-fits-all result. You deserve better.
Steve's Thought of the Day
You are not your debt. Your value, self-esteem, and existence should not be defined by the money troubles you may be facing right now. Debt problems are solved with proper action, not guilt, self-hatred, and disgust.
Steve's Thought of the Day
Debt is nothing more than math wrapped in emotion. The math is easy, the emotional part leads us to do impulsive things. Not the right thing.
Steve's Thought of the Day
What type of money personality do you have? It is important to know. Take my online test now and discover how you unconsciously deal with money, credit, and debt.
Steve's Thought of the Day
How much retirement savings are you willing to throw away by dealing with your old debt instead of preparing for your financial future? Find how much you will lose by making the wrong choice. Use my online debt repayment calculator now.
Steve's Thought of the Day
Does it make more sense to ask for life-altering debt advice from an unskilled and untrained commissioned salesperson in a call center or an experienced debt coach like Damon Day that provides a customized solution for money troubles?
Steve's Thought of the Day
I Have Bad Credit But Settled Some Debts. How Fast Will My Credit Score Go Up? – Lorraine
Bad credit score (595), and have a lot of accounts in collections. But I have paid them off for less than the full amount.
The past week I’ve been on a debt relief spree and I managed to take care of 3 of my biggest accounts that were in collections. BUT I settled all of them for less than the full amount. I know that doesn’t help my credit much, but I just wanted to get rid of it for peace of mind.
A couple of questions:
1) how fast will my credit score go up, or will it even go up, since i paid the account for less than the full amount?
2) I applied for a secured credit card before but was denied because i have too many accounts in collections. Since I paid most of them off now, when can I re-apply for a secured credit card?
3) how long will it take to get to a good credit score after this fallout?
Thanks!
Do You Have a Question You'd Like Steve to Answer? Click Here.
The fact you settled the account will still show the amount written off as a bad debt. And if you were late on the account that will appear for seven years as well.
But if you’ve tackled all the past accounts now we really just have to focus on getting new good credit reported to help bring your score up. That’s going to take a bit of time and more than one secured card to do that.
Please post your responses and follow-up messages to me on this in the comments section below.
Sincerely,
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Do you have a question you'd like to ask me for free? Go ahead and click here.
1 thought on “I Have Bad Credit But Settled Some Debts. How Fast Will My Credit Score Go Up? – Lorraine”
Dont make the mistake of trying to handle the problem yourself. Too many people I know try to do that and fail. It might cost you some money, but a place like Lexington Law is really the way to go. The extra interest that bad credit will cost you will pile on to the thousands. I would trust Lexington law mostly because I know they have a really good track record and have been around for such a long time.
Dont make the mistake of trying to handle the problem yourself. Too many people I know try to do that and fail. It might cost you some money, but a place like Lexington Law is really the way to go. The extra interest that bad credit will cost you will pile on to the thousands. I would trust Lexington law mostly because I know they have a really good track record and have been around for such a long time.
Hope that helps =)