If I pay 2 charge off, will that increase my credit score & how do I notify credit company.?

I would like to increase my credit score to get a house by September of this yr.

Public Comments

1. You will increase your credit score by paying them off but do not close the accounts! That worsens your score. On each statement you receive, there will be contact information. In general, just pay off the balance and no other action is needed.
2. Sure it will increase your score, but the question is how low is your current score because September is pretty close. I know that it took us 2 years to raise my score from 485 to 678 so that we could purchase our 1st home. You should have a plan of action to dispute all accounts that are incorrect and build timely payments with your good accounts. Take a look at my yahoo answers profile for a link that can help you. Best of luck to you and your family,
3. Not necessarily. When you pay these charge offs it will reactivate your account and it will stay on your credit history for 7 years starting the day of last activity. Consider writing the chargeoff company and ask them if you pay them off will they not report you to the credit agency. Obtain a letter from them stating that.Then pay them in full, keep your proof of payment. This will drastically raise your credit score (75-125 points). Good Luck