Does your credit improve if all of your debt is in collections and you pay it off?

Written by on July 15th, 2009

McChesney asked:

If I settle all of my debts, which are about 11 different items, will my score go up or do I have to wait 7 years for it to be cleared? If the score will not go up by paying off those collections, how do I get it to go up?

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