Credit history question: I have some debts on my credit report which total less than 10k?

due to unpaid debts my credit score is very low now, if I pay off all my debts together, does my credit score imroves immidiately ? how much it imroves and how long it takes time ?

for some of debts its mentioning: %26quot;Estimated date that this item will be removed: 2012 %26quot; so even if I pay it off; will it be in effect till 2012; Elaborated and complete answer to these questions, would be greatly appreciated ? Also if you have any suggestion or offer about the best way for handling it

Credit history question: I have some debts on my credit report which total less than 10k?

If they are estimated to come off in 2012 this means that they are fairly new debts(around 2005). You didn%26#039;t say what was the negative information, but I would guess that they are charge-off%26#039;s because of non-payment(s). So you are still within the Statute of Limitations for most states. This will vary from 2-6 years from the date of the last delinquency. The SOL is the time limit creditors have to take legal action against you to make payments. Once you are outside of this date they can no longer file a suit against you to pay. So because of the age they probably still will be able to come after you if you do not pay.

If you have the ability to pay, you need to get with each creditor or collection agency and offer to pay in full, IF they remove the negative information. Be sure that you have this agrement in writting from them before you send any money. If you pay it and they remove it, your report will be reflected as if they never existed which will help you the most.

Now, if you wait and get past the SOL without them filing suit, the records will remain on your report until 2012 as it states. The time starts from the date of the last delinquency, and creditors are not allowed to re-age debts. It does not make the debt go away it just says they can no longer report it to the Credit Reporting Agencies after 2012.

Credit history question: I have some debts on my credit report which total less than 10k?

u have to paid if u want your debt to go low. But it%26#039;s going to take time. the best get a advice from the bank or credit officer the will help u and do not take this matter easy. Will effect your future.

Credit history question: I have some debts on my credit report which total less than 10k?

Paying now will affect your rating over time but it WILL NOT increase your score in a short time.

Credit ratings are calculated based on several variables including taking into account the passage of time (hence the term- credit %26#039;history%26#039;).

Quick example. Say you pay your bills (all of them at once). Then you check your rating in a few weeks. It will not make a huge difference. Say you check it 2 months from now. It looks good because for 2 months you have had clean credit. Now lets say you check it 6 months later. Now your credit will look even better- your rating will also be better- because for the past SEVERAL months you have had clean credit. Do you see?

To answer your second question. The debt is in effect only if you don%26#039;t pay it by 2012. Obviously, if you pay it before then, then it is no longer a debt.

If you have accounts that are charged off, try settling with the creditor. *NEVER OFFER TO PAY IN FULL* They will usually offer a 50% settlement (you can pay the balance at 50% provided you give them a lump sum). If you save a bit of money and do that, that is often the quickest way to rid yourself of old debt.

Credit history question: I have some debts on my credit report which total less than 10k?

1st of all, it says estimated, because if you don%26#039;t pay the debt off it will not come off. If you do not pay the debt off, at the end of 7 years (in your case 2012) the debt is reassigned by the original creditor and so starts another 7 years...it doesn%26#039;t actually come off until it is paid (and then it is 7 years after that, if you aren%26#039;t lucky enough to get it removed right away...which you can do if you follow the advice in my link).

2nd your credit score will improve quite a bit if you pay your debt off and it should happen within a month or two. Please remember when you are negotiating your settlement you can also negotiate your credit score...here is a great website that gives really good advice (that is 100% free) about repairing your credit.

http://www.creditinfocenter.com/rebuild/