Can my credit score tank if i pay old debts?

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I have medical debts on my credit report that are collections that were reported in 2007 the debts are from 2003 from surgery i had, would it tank my credit rating if i paid these or how long should i wait for the collections to come off they were assigned in 2006 i have been thinking of filing ch. 7 on all off them what should i do.




  1. Yes it can.

    The way to get around this is to contact the collection agency's and get a pay for delete agreement in writing before you pay them a dime.

    This simply says that in return for your payment they agree to remove the accounts from your credit report.

    If you pay old collection accounts without this agreement they become current rather then old and your score actually goes down.

    Besides, if they are not going to work with you what's the point of paying them they will drop off soon on their own.  

  2. If you pay off your debts your score will improve.  Just make sure to get a "paid in full" letter for each account that you resolve and send a copy of it to each credit bureau.

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