Shortcut Navigation:

Question for the Money Doctors

Question submitted on Feb 11, 2013.


I have old debts that I would like to pay off to improve my credit score as I am looking to apply for a car loan in 6 months. How would I contact those companies and once paid off how long until my credit report would be updated to show good standing with the creditor?


Hi, thank you for the question. It usually takes a creditor around 30 days to update your credit report. If you pay a debt that was delinquent, it may still show up on your report and bring down your score. You may check with the creditor prior to paying off the debt to see how they will report it. Please visit the AICPA's website and see the section dealing with credit and debt for more information. The website is below:

For additional information visit