Due to losing my job last year, I currently have about $1000 in collections at different agencies. I got my 3 credit reports earlier this year and they were all correct. If I begin paying off these collections one by one, how much will it improve my score?
I fell behind on my credit card payments and my account was closed, but my bank set up a payment plan and they report payment to the credit bureaus. I've been on time with my payments for the last 9 months, will this alone help my score, even though the account has been closed? I don't think I could get another credit card and don't know if I should pay my collection debt first, or get a secured credit card?