I have negative accounts older than 2 years. Will paying them increase my score?

    Published: 06-16-2009
    Views: 9,702
    Mortgage Consultant Markita Aldridge discusses what you should do if you have negative accounts older than 2 years.

    Host: I have an unpaid collection or negative account older than two years; will paying them increase my score?

    Markita Aldridge-Woods: Actually, it will, but you will be surprised that it will not increase it by very much. Again, the scoring model for credit score actually gives more weight to payments that have been made in the two last two years. So, once those accounts hit your score, even though you pay them back is not going to be a dramatic change, but we still encourage you to pay those accounts off, so that you can have a good clean history and show that you are willing to correct your mistakes.