topic I have a FICO score of 484! in General Credit Topics

I have a FICO score of 484!

bluerory — Thu, 22 Mar 2007 16:31:37 GMT

What can I do to raise it? it is mainly due to past due accounts and a default loan from college. my husband and i had to move several times and I didnt know much about credit and "forgot" about these accounts so they were still being sent to my old adddresses. now i am a teacher he is a therapist but our credit sucks. what is reasonable time to raise my credit score? I only owe about 4k. I can pay it off. my ? is should i get more accounts and pay them off to raise my score? does my mortgage help or hurt me? we financed 114K and have been successfully paying off our mortgage. is it helping or hurting? sorry for all the questions I was just VERY surprised to see that I am only above 1% of the population as far as credit scores go. HELP!!! thanks

I started with a score very close to yours (lower, actual...

Skiffy — Thu, 22 Mar 2007 18:30:08 GMT

I started with a score very close to yours (lower, actually), so there is hope! My current scores are 619 - 652, but it has taken me 2-1/2 years.

If you haven't paid off the defaulted loan, that's what I'd attack first.

The mortgage is helping you as long as you don't have recent late payments.

I'd get a good secured card to help rebuild (ones that will approve in your score band include National City and Elan) while you're handling the existing negative items.

After six months of that, then see what your score is.

In good faith you can pay it but as the pp said, atack th...

Brammy — Thu, 22 Mar 2007 19:10:39 GMT

In good faith you can pay it but as the pp said, atack the defaulted tudent loan frst. You do have a problem being a homeowner, you culd reasonably incur a lien from the outstanding debts but most won't bother for that amount of money. However, the moral thing to do would be to pay them but take them on one at a time. Don't even call unless you have the money to put on the table. You can ask for several things such as settlement when you have the green to back it up. I'd start with the smallest first, then work my way up. Get in a repayment plan on the student loan because the FED never goes away then start with the smallest debt first be sure to ask for deletion if possible and whatever you do GET IT IN WRITING whatever agreements you come to BEFORE making the payment,