Lupe Loan

I recently got a copy of my credit report and it wasn’t good. A few years back I had lost my job and it was all down hill from there. I have 10 write offs (write off inclue; utility bills, cell phone, cable service and cash in advance loans and two credit cards). They are all small amounts that I owe, not one exceeds $1000 and if I add all the debt it’s less than $5,500. My questions are:

1) Should I make payment arrangements or I pay it all off in one go?

2) If I do pay it all off in one go, how soon after that would my score go up and by how much?

3)I’d like to purchase a home by July 2008, how soon would I have to fix my credit to make this goal realistic?

Lupe

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Hi Lupe,

1) Collection agency agreed to delete.

2) FICO has no memory.

3) Building good credit, but make sure you finish (1) first.

Thanks for the questions and hope this helps.

Paul