How will it effect my score

MrJohnP_2

Hi every one need advice. So I have debt that ended up with debt collection Company's from defaulting on my accounts. What I want to know is if I settle these accounts will it be bad on my score from the day I settle it or from when I defaulted? Or does this work as two bad marks one from defaulting and one from settling the account? Trying to work out the best thing to do with them as I will get some inheritance money which would be enough to pay them all off but at the same time don't want to spend it all on clearing debts.

Thank you in advance for all help

[Deleted User]

Any change, good or bad, generally lowers your score, but it doesn't matter.

Lenders will oonly be looking at the management of your accounts, so get the debts cleared.

[Deleted User]

The score might be affected but the score is a gimmick, not seen by any lender, at best it's like a guesstimate of your credit worthiness.

Individual lenders score you using internal systems that you will never see