Do I Need to Pay My Current Bills During Credit Repair?

Yes. Credit repair works to fix your past credit problems and inaccuracies on your reports. Failing to pay your current accounts will not help raise your score. On the contrary, adding excessive credit debt or causing new damage can ruin qualification on loan offers, and any new negative information added during your credit repair process may further damage your credit score.

While credit repair can help remove inaccurate, negative credit items such as past late payments, collections and charge-offs, bankruptcy residue and more from your credit reports, in the end credit repair is not intended to help you stop paying on legitimate, current monthly bills.

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Credit Repair FAQ - The Rest of the Story...

The primary benefit of credit optimization is the correction and repair of your credit reports - as they improve, your credit score rises over time. Credit repair typically uses a system of credit disputes (formal letters) and legal challenges that place the burden of verification (proof) on the credit bureaus and creditors — not on you.

Success in credit repair therefore presumes that no new negative information will be added to your reports during the credit repair process, and it presumes your credit debt can be maintained or reduced.

Failure to pay current bills, whether these be credit card minimums, a mortgage or refinanced home loan, student loans, vehicle installments, retail store cards — anything that will hurt your credit if a late payment appears — can sabotage your credit optimization strategy.

Hopefully this is common sense. If credit repair cleans up and fixes an old, invalid late payment on your credit reports, then adding a new (valid) late payment deletes any benefits gained by the removal of the older late pay. Keep in mind that the more recent the damage, the more it hurts your credit score.

For the most part, damage slides down a point scale for about seven years. Thus any new charge off, collections, late payment, and so forth will hurt your score more than the removal of an older, similar negative item will be able to compensate.

While we can counsel that it is best to pay all of your bills, and on time, Veracity recognizes life isn't always that easy. If you do have a new credit problem, please let us know promptly so that we can help advise on ways to minimize damage that may be incurred - we encourage our clients to take full advantage of our credit specialists.

We'll chug away writing dispute letters and requesting investigations from the credit bureaus on any invalid data, but we're also your personalized credit consulting service. Contact us at your convenience, and we'll gladly explain how to best pay down your credit debt, deal with collections, better distribute revolving credit, or prepare for a home mortgage loan.

Still, while we do everything we can to help, Veracity's credit repair services can't remove legitimate credit debts — what you owe, you owe. Deleting an item from your credit report does not change the underlying responsibility for legitimate credit debt, and we advise that you pay all valid debts to remain in good standing with creditors.