Credit card debt, credit score...?

Dan Seen: While I know that a lot of people on here say not to pay things and just wait until they fall off, I have issues with that. For several reasons. First, you made the debt. If you have the ability to pay it, you should. It's just the responsible thing to do. But there is actually a credit reason also. Yes, it will fall off in 7 years, BUT that does not mean that you don't still owe the debt. It is owed until it is paid. All they have to do is sell it to a collection agencies which then has 7 more years to have it on your credit.Where as if you just pay it, it is done and over with and your credit score can start improving immediately. Plus if you are every going to need to apply for a loan, it always looks better to have things paid off then to have things in collection or charge off. In fact many places will not even loan to people with open collections anymore....Show more

Agustina Stimmel: Your credit is rated according to your payments. When ! you make payments on your cc, your credit improves. If you pay off your cc in full every month , your credit improves. If you don't pay for your debt your credit will get worse. Once it drops, it takes a long time to recover.Pay off your credit cards girl, be money smart. Learn about money and empower yourself.

Ricky Frazer: Your credit will improve once you pay returned a debt. The greater you pay, the greater suited your credit status gets. once you pay all your debt off, your credit will probable be very extreme, as curiously such as you had extremely some debt. in case you in ordinary terms make minimum money on a mastercard or very own loan, you're usually in ordinary terms paying the interest, and you will never get out of debt. Your credit cost nonetheless will improve, besides the incontrovertible fact that, as a results of fact the interest is a factor of your debt, and you're paying it. the only element you ought to do which may well be undesirable to you! r credit could be to no longer pay, or to pay late. Any time y! ou're able to desire to make a late charge (which ought to be prevented in any respect expenses), you are able to normally stay clear of unfavourable your credit by calling up the credit enterprise and apologizing for the late charge and asking them to no longer rfile it to the credit bureau. they are going to nonetheless fee you a late cost, yet most of the time they are going to do as you ask and not harm your credit....Show more

Donnie Bolio: Its true that eventually they will take the two unpaid cards off your credit report, but that can take years and in the meantime you'll have that mark on your credit report which may make it difficult to receive credit in the future. And the credit you do get might come with a much higher interest rate. While its not great that one is in collections, it will be better to pay it off because at least it shows you made good on what you owed, rather than leaving it to the credit company to write off as unpaid....Show more

Lo! u Rought: do your self a big big favor , pay off all your debt , cut up all your credit cards and NEVER EVER fall for the credit card trap again debt is DUMB DUMB visit this site PLEASE http://www.daveramsey.com...Show more