Can't Seem to Improve My Credit (sorry, this is a long post)

[laz98]

Can anyone offer any advice on what I can do, besides be patient? My CCs are listed below. They all have high utilization right now (>50%). My worthless FAKO scores right now are TU 619, EX 618, EQ 609.


Plains Commerce: $350 CL. 2 lates from 2005. Perfect payment history since then. Open since July 2004. (I just lost my card, so this now shows up as 2 accounts. The new account does not reflect the late payments from 2005). Already sent GW letter.

Cortrust Bank: $600 CL. Perfect payment history. Opened March 2006.

First Premier: $550 CL. Perfect payment history. Opened March 2006.

Orchard Bank Gold: $700 CL. Perfect payment history. Opened November 2006.

Orchard Bank Platinum: $300 CL. Perfect payment history. Opened June 2008.

Target Red Card: $200 CL. Perfect payment history. Opened May 2008.

New York & Company: $300 CL. Just opened September 19, 2008.


I am also an AU on some of my girlfriend's cards. They are listed below as well.


Mervyns: $500 CL. Perfect payment history. Opened January 2008.

Lane Bryant: $1020 CL. Perfect payment history. Opened December 2003. Only on EQ.

Bank of America WorldPoints Platinum Plus: $9000 CL. Perfect payment history. Opened March 2006.


I have a Verizon charge-off on one of my credit reports that is now past TX SOL; DOFD is June of 2004.

I have Midland on all of my reports collecting for Verizon. (But I got intimidated by their threats of arbitration, & sent a 33% payment to them in January 2008, thereby resetting the SOL.)

I have a charge-off on all of my reports for a personal loan that I defaulted on in December 2004 when I lost my job.

I have 1 inquiry on TU, 5 inquiries on EQ, 6 on EX.


Besides lowering my CC utilization, is time the only thing that will help me? Thanks for taking the time to read this. I apologize again for the length. Just wanted to give all the pertinent details for maximum help.

[cw81]

You have a lot of  positive accounts  so time will help you and lowering your  utilization as  you suggested  your lates  you just have to continue to GW  send letters   consistently and  hope that someone  understands  your  situation and helps you out  one letter will not  cut it some people send letters every week for months before something happens.

Your  VZW   you might  try a PFD  . I don't know if in  TX    SOL can be reset by partial payment  I will have to research that someone might chime in  and clarify that.

Is the CO paid off  if not  contact the OC and see if they will work with you.

I hope that helps

[laz98]

bump

[scramblingin2007]

You can also try to get some cli's on those cards. A higher cl=lower util. Try to bring your util down to 7%...

Message Edited by scramblingin2007 on 09-27-2008 06:21 PM

[laz98]

Plains Commerce just gave me a CL like 2 months ago, & Cortrust gave me one like 2 weeks ago. First Premier said no, only one per year. I'm waiting to see if Orchard will give me a CL this month on my $700 account. The other cards are too new, I think.

Why 7%? That's going to be tough on some of these lame CLs.

[laz98]

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@cw81 wrote:

You have a lot of positive accounts so time will help you and lowering your utilization as you suggested your lates you just have to continue to GW send letters consistently and hope that someone understands your situation and helps you out one letter will not cut it some people send letters every week for months before something happens.

Your VZW you might try a PFD . I don't know if in TX SOL can be reset by partial payment I will have to research that someone might chime in and clarify that.

Is the CO paid off if not contact the OC and see if they will work with you.

I hope that helps

---

No, my charge-offs are not paid. The OC was an A$$ & would not work with me at all. Very unprofessional, constantly calling & harassing me & my family.

I forgot to say that this is my first GW. I didn't mean it to sound like I tried, it didn't work, & I gave up. Just meant I am in the process.

Message Edited by laz98 on 09-27-2008 07:28 PM

[cfletch123]

Does verizon wireless accept PFD's?

[laz98]

i don't know. it doesn't matter too much, it's falling off on its own, it seems like. it just fell off my transunion report either earlier this week or late last week. i'm not too worried about that one. at least they never harassed me about the debt.

[Anonymous]

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@laz98 wrote:
i don't know. it doesn't matter too much, it's falling off on its own, it seems like. it just fell off my transunion report either earlier this week or late last week. i'm not too worried about that one. at least they never harassed me about the debt.

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If VZW falls off... they have sold it to a CA. Usually they seem to use AFNI. Just a bit of warning.

[treski]

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laz98 wrote:
Plains Commerce just gave me a CL like 2 months ago, & Cortrust gave me one like 2 weeks ago. First Premier said no, only one per year. I'm waiting to see if Orchard will give me a CL this month on my $700 account. The other cards are too new, I think.

Why 7%? That's going to be tough on some of these lame CLs.

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Below 9% is ideal utilization for your FICO.  Some have posted that it gets even better at around 1%.  You definitely want to go below 9%, though.

It demonstrates that you are responsible and use very little of the credit available to you.