Collections

[Neenee9]

My credit score is extremely low which I had assumed was from past due medical bills. I see I have 4 debts owed. I believe they are collection agencies but I dont recognize the name. If I pay those all off fully how much should my credit score increase?I have no credit cards or car payments & am retired. Im trying to see how to raise it or if i should file bankruptcy.Any feedback would be greatly appreciated.

[Carl]

Paying off overdue debt does not instantly make your credit score good. The debt was still not paid per the original agreement with whoever loaned you the money or gave you the credit. So that "ding" doesn't go away just because you pay it off. Only time can improve your credit score. The more of your debt that you pay in accordance with the agreement you signed for that debt, the sooner your score starts rising.

There are things you can do to speed up the process. But you need to pay off the overdue debt first, before even getting into those things.