is it better to pay off old collection accounts to raise credit score or try to get new credit established.?

i have a bunch of old collection accounts on my credit history. i am wondering if it is better to pay those off or apply for new credit and pay that on time.

Public Comments

1. New credit as the old one will remain on your history even if you pay off or settle.
2. I don't know...but I was told it was better to pay the original debt to the person that you owe instead of the collection agents that are generally on the credit report. Once you pay them get a RECEIPT and turn it into the credit bureau so it can be removed. A lot of times, I am told the collection agency will not remove it like they say they will.
3. check and see what the saute of limitations is before you pay off the old stuff. they maybe to old to Collette and you can just make a statement of that on your credit report if they wont remove them. Good luck
4. Paying off old debt will no improve your score. The charge offs and collections have already done their damage. However, creditors look at your whole credit file, not just your score. Paid old debt looks better than unpaid. If you plan on buying a house, mortgage companies will insiste you resolve old debt before approving your. Negatives age off your file 7-1/2 years from the date of first deficiency. Start with the newest item and work backwards. The older the debt, the more likely you can settle for less. Ask for delete for payment -- some will, some won't. If the debt is more than 3 years old, offer 25%; 2 or 3 years old, offer 50%; less than 2 years old, offer 75%. Get any settlement agreement in writing and keep it, along with your payment proof, forever. Do not give collectors direct access to your bank account. You will still need at least a 24 month history of consistent, on time payment.
5. Pay off the old ones and then get more credit that has more value. If you obtain a little credit card now that will do little. Be paid off and get a car loan or a bigger card..... that will bump you up faster.