Legal Question in Credit and Debt Law in Georgia

Those are not legal questions, and you are asking for a guess about your credit report. Check your reports periodically.

This is not a legal question and no lawyer will be able to answer it.

Creditors update their reporting on their own schedules, as does each credit bureau. All three credit bureaus use a complex (and different) scoring, which they do not release to the public, so the only way to answer you is to tell you to keep checking your three reports. Note that the effect also depends on other information you have (which constantly changes).

It depends. What is the reason for the 2 major collection removals? If a debt has been resolved, it may take 30-60 days. If you resolved debts because you are in the middle of getting a refinance or making a home purchase, the lenders can do what is called a "rapid re-score." Usually, the lenders want someone (like an attorney) to review the information and explain why they do not need to worry about the outstanding accounts.

You ask how much your credit score will improve. Again, it depends. While 2 negative items were resolved, what about the other stuff? Is there anything else on there? There are credit score simulators. Try www.myfico.com. They have a simulator there which allows you to plug in variables and see how your score would or would not improve.

Most of your score is made up of two things: (1) paying your bills on time; and (2) having a good mix of credit that does not exceed your debt income ratios. Examples are having a mortgage, car loan and owing very little on no more than 2 credit cards and your total obligations should be only about 1/3rd of your total income.