Yes, that will certainly help. What you don't want to do is close any of the accounts. I am a local lender and can help you. Please feel free to either call or e-mail.
If you have a local bank, credit Union or financial institution you work with regularly, Pay them a visit, explain exactly what your wishes are and they will help you through the process...
paying off debt and delinquent bills are always a good idea.
But working with people you know and trust is always a good way to go!
I am a local lender that works very closely with buyers in cleaning-up credit to get them ready to purchase a home. Please feel free to either call or e-mail with any questions.
Hi Coxerika, A great free credit monitoring site (really, no credit cards etc) is https://www.creditkarma.com/ my clients find it to be right on the money when we buy homes and a full credit report is pulled.
You can also model scenarios e.g. paying off cards etc to see what effect it has on your score. Good luck to you.
It will definitely help and Simon's suggestion that you check with the credit bureaus is something you should definitely do (at least once a year). You may also want to write a letter of explanation for the past credit negatives & how you will not do that again to include with your application.
Paying off past due accounts is a good way to prove dependability and improve your credit. It can take some time, however, for these actions to change your credit score. It may be a good idea to check on your credit score now that these accounts have been cleared.
Another good way to help you to either buy or rent is to have a good security deposit or down payment. It can also be a good idea to have at lease one months rent or mortgage payment set aside in a savings account in case of emergency.