If I pay them, will my credit score increase?

I owe a truck driving school and a security school money, which they have reported to the credit people. If I pay the credit people who took over the responsibility. Will my credit score increase?

Public Comments

1. The best way to pay things that are already on your credit is on time monthly. The trick is to pay more than the minimum as it is those monthly charges that will kick your butt. Call them and work out the payment schedule for less than you are able to afford over say 16 payments and then pay the extra and you will have it paid off in no time.
2. No it will not and please do NOT buy into a company who will claim they can fix your credit. It is a scam and when you attempt to get credit in the future it will show up on your report that you have used one of these companies, further discrediting you and your credit. I worked as a mortgage broker for a while... for a very legitate and honest mortage company who would not touch a client with a ten foot pole who had gone this route. I highly advise you to work on getting your credit in better shape and in 18 months or so your credit rating will be greatly improved without using a scam method.
3. It will go up eventually once you start to pay off the debt and not miss any more payments. Do make arrangements with the creditors or collection agents if possible. Do plan to be conservative with any additional spending (essentials only!!! food in home, basic shelter-share an apartment and basic flexible wardrobe, transport to/from work via public transport, bicycle or friend while u contribute to gas) Do not spend any money on 'credit repair' companies - more are unethical than not - from what I hear. Do not buy anything more! Once all is paid off - buy 1 smallish purchase and pay it off ON TIME over 2-3 months and show better responsibility - the numbers will climb!