Credit Question

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Full Member
15+ Year Member
May 31, 2003
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I have a question concerning my credit history and FICO score that I thought someone might be able to address.

I have a couple of negative items on my credit report, such as a charge-off and an account in collections. These items are from 2 years ago.

Basically, I am wondering if I should contact the creditors to resolve (pay) these accounts - in other words, would paying a charge-off and collections account increase my FICO score significantly?

I know some of you are going through home-buying processes and other types of credit transactions and seem to be fairly knowledgable on the subject. I appreciate any advice/insight you can provide.