Since payment history makes up such a large part of your credit score, several past due accounts have a significantly negative effect on your score. Taking care of these is crucial to improving your credit score. Your goal is to have all your past due accounts being reported as “current” or “paid.”
- Get current on accounts that are past due, but not yet charged-off. Do what you can to keep accounts from getting charged off.
- Pay off charge-offs.
- Work with debt collectors to take care of your collection accounts.
Should You Pay Old Collections
