Question

I have several things on my credit score in collections (mainly medical bills). I’m desperately needing to improve my desire score. Is it better to pay down my vehicle loan or pay the collections accounts? I’ve read paying the collections accounts will not increase my score. I do understand it still needs paid and some creditors will consider the paid status even if the score doesn’t improve. Just looking for input in the best way to go about things

Answer 1

Only pay down ones that are 2 years old or less. After that they barely affect your score at all and you won't see more than a couple point increase. Pay down loans, credit cards, and having more accounts helps. Pay them all on time too.