Have you ever wondered what the impact on your credit score would be if you paid off a certain collection, or credit card?
I’m going to do a video illustration on this subject, but I wanted to write a quick note to you about it because I want you to know this is something I can do for you.
There is a “what if” service we use through our credit company that allows us to ask what the impact of paying off or down any account. It will tell you the expected impact of the action on your credit scores.
This is important because it can save you a ton of money.
I have some people that pay thousands of dollars against 6 or 7 year old collections – only to find out the impact on the score was negligible.
So, if you are trying to get your scores up – and you are considering paying off some accounts.
…Let me run the “what if” scenario for you to see how it will impact your score first.
Thanks for reading! …and, have a good day!
Brett
If you are thinking about buying a house, but you aren’t really sure if it’s…
Here is a breakdown of the maximum seller help amounts by loan program… Program: Conventional…
Your property tax bill usually comes out in late November, or early December. There are…
If you want to acquire rental properties, but you are having issues proving your income…
If you receive money from the State or a County sponsored organization for providing foster…
FHA gift questions come up often. I wanted to give you the rules on FHA…