Need a score boost of 20 points.......

[Anonymous]

Newbie here......Hello )

How would one boost their fico score if they have no cc to pay down because they are all in a debt consolidation program, no other outstanding bills, just recently paid off both car loans? I know that it would probably be a benefit to get a secured cc but I think I read that you can't do this if you are involved in a debt consolidation program. My husband actually called the place that we are dealing with (debt consolidation) and they said they don't have a problem with it but if our creditors found out they could cancel our agreement

My husband needs to boost his score by 20 points but we can't figure out how to go about this.

Also, if I have 30 past due but they are over 1 yr old from my car that is not paid off, do I need to try and get these removed? I thought that as long as you had 1 year free of any baddies you would be ok for fha but I see so many trying to get old stuff taken off their credit report...why is this? It's not going to change your score is it?

I'm sure that I'll have more questions but I'll start with these....Thanks in advance

[Anonymous]

12 months clean payment history is needed, but that's separate from the credit score requirement.

As late payments age they have less of an effect on your credit score and sometimes it's recommended to leave them because they add to the average age of accounts. However, if you can GW/remove any that are less than 2 or 3 years that should definitely have an impact on your score.

[Anonymous]

Ohhh, now I understand. So would I still be able to GW these lates for my car even though I'm done paying for it? And I have multiple 30/60 days because of a lay off so I'm wondering if there is any chance in getting them all removed. Even if they just remove one or two will that still make a difference in my score?

[Anonymous]

It can be tough if there are multiple lates, especially if they're fairly recent. (A little easier sell if it's a one-time error.) I'd try the account that's paid off and see if they'll do anything.

As for open accounts with multiples lates I doubt if there is much you can do. If there was an explainable reason and your account was perfect before and after, maybe you could get them to report a shorter period? (ie, report for 12 months, not 24, etc.) It doesn't cost anything to try, but I wouldn't hold my breath either.

[Anonymous]

I don't have any open accounts with lates. Only the car to which the last late was January 2008.

Thanks for you help

[Anonymous]

If the accounts are closed and relatively recent, I would try to get them removed. Same thing with the car - at least it's been over a year so they can see you're back on track. It'll be a tough sell, but worth a shot.