Home Buying in Wichita>Question Details

Jlb138225, Home Buyer in Cherokee County, KS

I have a credit score of 547 i have paid off the collections on my report but was told it would remain on my report for 2 years, i paid off

Asked by Jlb138225, Cherokee County, KS Sat Feb 13, 2010

the 1 loan that i had, would this raise my score enough to get aproved for a morgage loan, also if not is lexington lawfirm a reliable sorce to get rid off the collections on my report since they are paid off.

Help the community by answering this question:


Hi Jib,

I have not heard favorable things about lexington law. I have written blogs here about ways to boost your credit score for free and options for credit repair. If your collections are paid off they are still showing negative on your credit reports. You want to try to remove these negative trade lines if possible. I can assist you and navigate you through the credit repair process. Good luck!

Hannah Fliegel
The Credit Repair Expert
0 votes Thank Flag Link Sat Feb 13, 2010
You can still work on getting it removed. You can still try to talk to the companies and ask them to remove it, you can also go through the credit Bureau and ask for them to be moved by either know "knowledge of account" or "never late" the company has 30 days to respond, if they don't respond it is removed from your credit report. (Not to say they can't put it on later). When they respond they have to show proof that it was late and your bill.
0 votes Thank Flag Link Sat Feb 13, 2010
You won't get accurate information removed from your report. Your report can show them as paid off, but still having been late. Just keep paying your bills on time, and that'll help your score go up. And Gregory's correct: Closing accounts, especially ones you've had for awhile, actually can lower your scores. The longer you've had an account, the better.

Good luck.
0 votes Thank Flag Link Sat Feb 13, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
With respect to securing financing for a mortgage, most lenders are looking for at least three tradelines (open accounts or recently paid off). If you paid off this account and closed it out, your credit score can be reduced as this will represent what the credit bureaus term reduced credit capacity. However, paying it off and leaving the tradeline open is best as it will show available credit. Given that you just paid it off, you may have to get your credit report rescored. Do this only after you have made sure you have addressed any other delinquent tradelines. Also, check with banks regarding affordable mortgage products that take other considerations into factor when approving a loan.
0 votes Thank Flag Link Sat Feb 13, 2010
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