Will paying off my debt in a year help increase my credit score?

I am currently 15,000 in debt and I have a really bad credit score, I recently got a second job because I want to move and apply to pharmacy school. By my calculations with the second job in a year I'll have tow to three thousand left. I have a repossession on my credit as well that I am paying off. Will I be able to get an apartment and raise my credit score?

Asked By: SanJuanPR01013 - 8/16/2010
Best Answer - Chosen by Asker
It is extremely hard to raise your credit score...especially when you have a repossession on your report...They will not just go away...they usually stick on your credit score for 7 years...Even if you pay them off they will be changed from 'CHARGED OFF' to 'PAID' account. And most of the time if the account is in... More
Answered By: canthomp27 - 8/16/2010
Additional Answers (2)
Are these items in collections? Paying them off will NOT improve your score (at least not instantly - but with time). IF you really bad credit you may have to offer a landlord 6 months worth of rent upfront. Do you have credit card debt? Pay it off in full each month to give your rating a boost. /
Answered By: Judy - 8/16/2010
It is true, when you get your bills paid off, it does not improve your credit score immediately. I have been helped by for almost two years now. They literally do everything for me. It is a government agency that eliminates your debt for you at no cost to you and stays in contact with the... More
Answered By: Shayshay - 8/17/2010
Sponsored results
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Click. Search. Apply. Free!
Complete OFCCP compliance that actually helps you recruit.
Jobs hiring near your local area. Part-time, Full-time, Work at home.

Other Career Questions

What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
3 answers - Asked By: drop pants not bombs!.♥ - 3/2/2010
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
4 answers - Asked By: bayebd24【ツ】 - 11/21/2007
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
1 answers - Asked By: roseparkerly - 1/26/2009

Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.

Popular Articles

Best-Paying Work-from-Home Jobs Article Rating
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook Article Rating
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.1.40.24-312