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I need to raise my fico score really quick I want to buy a house

Valued Contributor

Re: I need to raise my fico score really quick I want to buy a house

PUBLIC INFORMATION
<SCRIPT type=text/JavaScript>document.write("www.truecredit.com/popup/PublicInfocreditreportPopup.jsp?popup=true','defaultPopup','height=430,width=645,scrollbars=yes,resizable=no','true','false'); \" name='/popup/PublicInfocreditreportPopup.jsp' style='background-color: transparent; font-size: 11px; font-weight: bold; padding: 0px; margin: 0px; border: 0px; line-height: 10px; text-decoration: none;' class='tableHeading1' target=_blank>?"); </SCRIPT> ? ?

 
-Tax Lien----- Type:   State Tax Lien    Status:   Filed   Date Filed/Reported:   10/18/2005   How Filed:   Individual   Reference #:     Released Date:       Court:   MERCER CO REGISTRY   Amount Owed:   $250   Remarks: [TransUnion]     [Experian]    

[Equifax]    

It is on my credit report. I live in pa for last 9 years. I tried to dispute it few times but it is not removed from my credit report. I sent 250 dollar check to Mercer Co registry address on my credit report. They returned the check and told me that it is for dmv surcharge. Then I received a letter from NJ Surcharge to 250 dollars in the mail. I dont want to have any state tax lien on my credit report. I did call the toll free number on Nj surcharge letter.They told me that they have no idea why do I owe them 250 dollars but I should pay that otherwise my license in PA would be suspended too. What dmv surcharge has to do with state tax lien. What should I do? I am planning to pay it anyway.

Message 11 of 36
Valued Contributor

Re: I need to raise my fico score really quick I want to buy a house

SUMMARY
<SCRIPT type=text/JavaScript>document.write("www.truecredit.com/popup/SummarycreditreportPopup.jsp?popup=true','defaultPopup','height=430,width=645,scrollbars=yes,resizable=no','true','false'); \" name='/popup/SummarycreditreportPopup.jsp' style='background-color: transparent; font-size: 11px; font-weight: bold; padding: 0px; margin: 0px; border: 0px; line-height: 10px; text-decoration: none;' class='tableHeading1' target=_blank>?"); </SCRIPT> ? ?

TransUnion Experian Equifax
TOTAL ACCOUNTS: 13 17  10  OPEN ACCOUNTS: 8 3 3 CLOSED ACCOUNTS: 5 14 7 DELINQUENT: 0 0 0 DEROGATORY: 8 12 6 BALANCES: 4192 4885 2852 PAYMENTS: 0 0 0 PUBLIC RECORDS: 0 1 0 INQUIRIES (2 years): 4 5 2

 

Here is my credit history. Any suggestions?

Thanks

 

Message 12 of 36
Regular Contributor

Re: I need to raise my fico score really quick I want to buy a house

The balances (4192 4885 2852) need to be paid off.  That's whats depressing your scores.  You'll probably get a 80 pt jump once they go to zero.  Hope this helps.
Message 13 of 36
Established Contributor

Re: I need to raise my fico score really quick I want to buy a house

definately pay down those balances to as low as you can.
 
Message 14 of 36
Valued Contributor

Re: I need to raise my fico score really quick I want to buy a house

are u serious? mostly are in charge off state. I read somewhere that paying off your old debts does not make much difference to fico score?
Thanks
 
Message 15 of 36
Regular Contributor

Re: I need to raise my fico score really quick I want to buy a house

Very serious.  I was in this very situation a few months ago.  By paying off the balances that were reporting, my score jumped 80 pts.  Some lenders report amount owed to be $0 after charge off, but not all.  If there's a legit amount owed being reported, you will gain a great increase in your score by paying it off.  Don't pay off an old account that is reporting $0 owed.  That's where the confusion comes in.
Message 16 of 36
Valued Contributor

Re: I need to raise my fico score really quick I want to buy a house

besides most mortgage lenders would have required you to pay off any of the charge offs and such.
Message 17 of 36
Valued Contributor

Re: I need to raise my fico score really quick I want to buy a house

Thaks for your message. I owe 2100 dollars to some collection agency name certified recovery systems. I sent them a message that if they delete all the collections from my credit report I will pay them in full. They have like 5 collection acocunts on my credit report. They told me that they dont remove it from credit report, but they can change it to paid. Should i still pay them?
Thanks
 
Message 18 of 36
Established Contributor

Re: I need to raise my fico score really quick I want to buy a house

try your best to get them removed if you pay. Do you know when they are scheduled to fall of the reports?
Message 19 of 36
Regular Contributor

Re: I need to raise my fico score really quick I want to buy a house

You may want to check out the PFD letters that are here, and try again.  You will also be able to settle with them for less that full amount.  Bottom line is that your scores will improve by paying off these debts, and as posted by another, lenders may require you to do so in order to get financing. 
Going down the path of PFD and payment of the debt seems correct in this situation.
Message 20 of 36