Paying Off Old Credit Card Debt to Update Credit Report

Author: holly
Posted: Thu Jun 24, 2004 5:21 am
Post subject: Paying Off Old Credit Card Debt to Update Credit Report

I just looked at my credit report--not good! But if I have an old credit card account that says CLOSED/REVOLVING, can this still be paid? Or is it on my report forever.

Also, if I pay an account off, how long before it shows paid and increases my credit score.

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Author: NightStar
Posted: Thu Jun 24, 2004 7:00 am
Post subject: Paying Off Old Credit Card Debt to Update Credit Report

It will only stay on credit report 7 years regardless paid or not, looks better if paid (or even better if you can pay for deletion - negotiated with the creditor).

Changes submitted by a creditor to the bureaus can take 30 to 60 days usually - unless you ask them for a confirmation letter to forward yourself to each bureau asking for the update to show paid, or if you negotiated for deletion,