why is it a bad idea to pay off judgements and collections? My redit score is getting higher and higher with each month and am still saving for the downpayment on the house...so it will be at least another 5 or 6 months before I am ready to apply for a loan. But I am curious what sort of affect paying off a collection will have on your credit score?
Why should you not pay off a collection when applying for a home loan? I thought when applying for a mortgage you had to have everything outstanding on your credit report resolved.
wow I didnt realize I had already askedthe question.....some five months ago...:(
MissJenni2642 7 months ago
why is it a bad idea to pay off judgements and collections? My redit score is getting higher and higher with each month and am still saving for the downpayment on the house...so it will be at least another 5 or 6 months before I am ready to apply for a loan. But I am curious what sort of affect paying off a collection will have on your credit score?
MissJenni2642 7 months ago
Don't listen to this idiot. He does not know how credit works. It's just a scam
piron6000 9 months ago
Why should you not pay off a collection when applying for a home loan? I thought when applying for a mortgage you had to have everything outstanding on your credit report resolved.
MissJenni2642 1 year ago