How long does it take to realistically jump up 100-120 points?

[Anonymous]

Some of us newbies who are rebuilding our credit, need some encouragement!

I want to know from everyone out there when you started to rebuild your credit where did you start? Score wise, general credit profile info like:

collections

charge offs

high util

etc (what ever you deem relevant) would be beneficial.

Basically how long did it take you to go from 500 range to 600 and above?

This may better help us to assess our goals more realistically!

Thanks to you guys I believe I am on the right track.

Some horror stories to dreams come true fico style is what I want to hear about!

[Anonymous]

I started with a score under 400 yes under 400 that was about a year and a half almost 2yrs ago for all 3 CB.

I had like 10 CO and 9 collections as well as a BK from 2000

Now I have 3 Collections and 3 CO  BK will come off in 3 more years

My scores are now TU604; Exp595 and Equ is 528 it keeps going down Was at 565 about a month or 2 ago and have not been late on anything and have not had anything added to my report and it keeps droping.

[Tuscani]

I was mid 400s once upon a time!! Some of us battle this stuff for years with success coming at a snails pace and others breeze through it like a whirlwind. You never know which you'll experience.

[Anonymous]

I think it depends upon so many different factors.  It seems to me, and this is personal experience only, that the longer you have had credit, the faster the negatives pop off. 

For instance.  BK dismissed in 2005, score was like high 4's.  Had a few inaccurate reportings because of the BK and was working on getting those fixed.  Worked diligently for a while, then gave up and now started again.  But, score is low 600 now [and I mean low, like 601].  Anyway, I have disputed quite a bit of inaccurate information in the last 30 days, just waiting to see what effect, if any it will have on score, but technically the scores should rise significantly.  Have 20 years of credit history [which was relatively unmarred prior to BK].  I will keep you posted, as I should be seeing a change in a few weeks.

I think another factor is time.  Because FICO is a risk scoring model, the information and the scores are based upon risk and risk is determined over time. So the longer you go with paying on time [no lates ever] the better off you will be.  Because I do know that one late on an already damaged score will tank it like you would not believe.  However, if you have excellent credit, one late barely makes a difference.  It's all in the time/risk...

[joeykaplan]

Same boat here for the most part, I hate dealing with some of these people.

[Anonymous]

That's wonderful. When I look at simulators it says the same thing that my score would go up like yours over the next 12-24 months with paying down 90% of my debt that I would see the over 150 point improvemnet you have received. Your hard work is paying off!

[Anonymous]

How long ago was it and how long before you saw the 100-120 point jump?

[Anonymous]

I paid one lousy card with a $1K limit from a $900 balance down to a $75 balance and gained 70 + points in one reporting cycle. I couldn't believe it. My file is very thin as far as tradelines, so how many you carry on your files will factor in for your scenario. Also, fight like a bulldog to get lates removed which can also do amazing things for your score. Even if an account remains a derog, removing the lates will give you a big bump. Message Edited by devhip on 05-02-2007 12:00 PM Message Edited by devhip on 05-02-2007 12:00 PM

Message Edited by devhip on 05-02-2007 12:01 PM

[Anonymous]

Started in march this year my scores were TU 610, EQ 565, EX 580 today TU 597, EQ 568, EX 630.

I have gotten 2 Collections deleted, 6 inquiries deleted, 1 Paid Collection and 1 paid Judgement but my 2 paids have yet to be updated. Have 2 GOOD accounts on TU that have not updated since March. Now I still have 1 collection and 1 CO on TU, I have 1 CO and 3 Collections on EQ and 1 CO and 2 Collections on EX to contend with. All combined I have 1 CO and 4 Collections left. My plan is to use Tuscani's PFD letter on 3 of the collections the other I'll dispute till the end of time, (It's not mine).

The CO I Don't know what to do with, reported by HSBC in 09/03 purchased by another lender but there is nothing on my Reports as to who has it. Anyway thats where Im at with my battle for Credit Repair.

[Anonymous]

That's great! you had a huge jump as well. I have approx 17 years of hx so I hope I will rebound quickly but I will keep youposted as well! Thanks for your input!