Fixing Credit Report

Fixing Credit Report

I just started fixing up My Credit report, my score is around 605 which i thought was good but i was mistaken,

I just started fixing up My Credit Report, my score is around 605 which i thought was good but i was mistaken,what i am trying to figure out is how come when i finished paying off one collection account and it now shows paid in full my score went from 612 to 605, i thought paying off collection accounts was a good thing or am i wrong? Also i would like some advice on what i should or should not pay, i will provide the details if anyone is interested in helping me out.

Thanks
MM
I do have like 1 or 2 more collection account. For the one i just paid off i did get a letter stating that it was paid in full is this the same as a pay to delete letter and if not is it too late for me to get a pay to delete letter. Also if the CA does not offer a pay to delete letter should i not agree to pay it? I now have good new credit, i have a new car loan its been over a year and never missed a payment and my girl also added me as a user on her Credit Cards and she has a score over 700

Paying off is a good thing since it shows it has been resolved and over time it will have less of an impact. You should NEVER pay off a collections item without getting a pay for delete letter. Your scores will jump significantly if and only if these entries are removed off your credit which can happen if you get a pay for delete letter like this URL states

http://www.creditliberty.com/credit-repair/pay-for-deletion-letter.html

I am guessing there are other collection items on your report that are putting you in the low 600s. Just 2-3 collection items are suffecient enough to plunge your score in the low 600s. After those 2-3 other collection items are like piling on more crap which doesnt hurt. For scores over 700, your report should be clean of any collection items and charge offs.
Are you making Good Credit right now? Most ppl forget that to have a high score, not only should your report not have negative marks but also should have good credit on it. Start making it now and in the next year or so your scores should be higher.

Pay in full is not the same as pay for delete. You should try it with your other items. As other posts say, over time your score will get better since this entry will be older. FICO scores are really wierd becuase when an old bad debt is paid off, it becomes "current" and over time its impact is reduced. Showing it paid off is a lot better than having it say charged off.

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Fixing Credit Report

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