Scores in the 620 range

[Anonymous]

Hello,

I currently have a FICO score of 570.  I have three paid collections and no matter what type of GW letter I write, my wonderful friends at Central Finance Control won't remove it.  It's about 8 months old and too bad I didn't know about this board earlier or I could have done a PFD.  Has anyone had any luck with this collection agency in getting it removed? 

I also have 30 day-late that was 3 months old.  Including 4 credit cards that is about 87% util. 

My question is, If I can't get collections removed and the 30-day lates, But i pay my CC down to about 20-30% util, is it possible to get a FICO score to around 620 or so...  Or would I always be in the 500's until the collection and lates are gone.

I know might be hard to answer so any feeback or suggestion would be greatly appreciated.

I have heard people talk about 50+ points jump just paying the CC down so wasn't sure if that's for real or not. 

Thanks in advance.

[PayYouNever]

Yuo'll see score increases by paying down the CCs. As you'll see all over this board, high CC debt is the number one easily fixable culprit from pumping up a FICO score. If you can get your CC UTL to 10 to 20% you'll receive the maximum jump possible with other recent problems.

In regards to the other Derogs, they need to be at least 24 to 30 months old for their negative effects to diminish...

As everyone says, time is the healing factor for FICO scores. Continue to pay on time and reduce your overall debt loan is your goal. Also, as you pay down your CCs, ask for CLIs it'll make the UTL go down faster.

[Anonymous]

I went from 95% UTI to 7% and saw a 30-40 point jump across the board.

Getting below 10% is your best bet.

[Anonymous]

43% to 4% was 80 points for me-

[Anonymous]

80% to 11% took me up 67 points fromg 565 to 632.  Just took 14 days for all my CC's to report.

[Anonymous]

I have two accounts showing Paid/Chargeoff's and I am sitting in the 650's.  Do yours still show any balances??

Also, I guess I should add I was in the 610's with about 90% util, and I am now at 2% util.

Message Edited by AttaGirl on 04-25-2008 04:32 PM

[Anonymous]

I don't have any chargeoff's.  My collections were medical bills which I just paid in full without disputing it.  As for the 30-day lates, they were about 3 months ago.

Is there a bigger impact to the credit score for chargeoff/paid versus if you just paid in full?