Credit score will rebound, but it will take some time
News from Columbia Daily Tribune:

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Dear Debt Adviser,

I have horrible credit, but I have recently righted my ship as far as trying to pay it all off. A few months ago, I paid off one of my outstanding debts. On my credit report, it is listed as “Payment after charge-off/collection.”

My question is this: Can I get this completely removed from my credit report, or is there something else I can do to look better? Also, my credit score is pitiful. Will it start to go up once I get all my bad debts and charge-offs completely paid?

— Donald

Dear Donald,

As you have learned, one of the consequences of not paying what you owe is “horrible credit.” However, with time, your credit will improve, and it is hoped you will have learned some valuable lessons that will prevent you from defaulting on future financial obligations.

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Dollars & Sense: Credit score vs. credit report
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During these tough economic times, it’s important to keep track of your credit score and your credit report. 

They are not the same. 

We had a viewer write to ask if it’s possible to get a free credit score.  If someone offers that to you, be cautious.

“Your credit score is typically not free.  You will have to pay one of the three large credit reporting agencies anywhere from ten to twenty dollars for that.  However, you should check with your bank.  Some banks do offer a credit monitoring service,” said David Hudson of Central Pacific Bank.

Some banks will provide information on what’s happening with your credit report and th…………… continues on KHON2
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