Learn Credit Repair in 15 Minutes

What a wonderful site! Lots of GREAT info, here!!!

My question will *possibly* stump ya’ll … it sure as heck has stumped US!

We just paid off a small ($500) tax lien, became up-to-date (and then some) on a student loan that was near default, and have a few medical bills in collection dating back to 2005 … Our current credit score averages at 530.

My question is this: should we pay off the medical bills (they total around $1000)? And once the bureaus are notified that we’ve become current on the student loan ($28,000 balance) and have paid off the tax lien, how much do you think that might raise our score?

Specifically, we’re REALLY hoping to kick our score up to 560 to qualify for a home loan (we  have $40,000 to put down) and need to do it QUICK (have to move MIL in with us and it’s the only way!)

Your help is MUCH appreciated! And thank you for giving me the chance to possibly “stump the experts!”

Marie

————

Hi Marie,

You may find that your credit score drops once the medical bills are paid.  If you are in a rush, a much better approach would be a pay for delete. 

Spend fifteen-minutes listening to our Raise Your Credit Score Seminar and that should equip you with the right game plan.

Thanks for the questions and hope this helps.

Paul