Declined because of my credit score, what now?

[Chris Miedema]

The house I wantgoes off of the market in 6 days. I qualified for an FHA loan, except for my credit score. I have an outstanding bill from FASFA who has handed it over to collections for 600 dollars. I can pay this right away. But the question is, whould this boost my credit score up from 590 to 640 by the time the house is auctioned off? Has anyone experienced this personally and have any shortcuts/loopholes? I was possibly thinking about putting an offer down, hoping to win and also hoping I get the loan by time I need the money offically. But that is extremely risky. The house is perfect though. A wonderful investment.