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3 years and not much success

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CreditOCDinCali
Regular Contributor

3 years and not much success

Hello everyone! I signed on with a credit repair agency back in 2015. They were able to remove about collection accounts. I was paying $125 per month for 3 years and I feel it was wasted. There has been very little improvement. I want to do it myself, but I don't know where to start or how to start. I have 3 collection accounts on my Experian all dental from 5 years ago. I also have 12 late payments for Fedloan from 2013. And 3 late payments from an old vehicle I purchased back im 2012. Please, any help is appreciated!! Thank you in advance.
Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: 3 years and not much success

35% of your score is making payments on time so... make sure you are doing that for sure!

30% of your score is Amount of Debt. Get your Utilization LOW. Under 9% aggregate.

 

What are all your credit card balances in relation to your limits? 

Like 500 out of 1000 and 250 out of 300 is 750 out of 1300 for 58%... which is bad.

 

We can help more if we know those numbers

Message 2 of 5
Adkins
Legendary Contributor

Re: 3 years and not much success

I recommend reading ABCD2199s rebuilding rules thread, here in this forum. They are very solid. 


Last HP 08-07-2023



Message 3 of 5
Anonymous
Not applicable

Re: 3 years and not much success


@CreditOCDinCali wrote:
Hello everyone! I signed on with a credit repair agency back in 2015. They were able to remove about collection accounts. I was paying $125 per month for 3 years and I feel it was wasted. There has been very little improvement. I want to do it myself, but I don't know where to start or how to start. I have 3 collection accounts on my Experian all dental from 5 years ago. I also have 12 late payments for Fedloan from 2013. And 3 late payments from an old vehicle I purchased back im 2012. Please, any help is appreciated!! Thank you in advance.

OK, thats the negative side of the equation, what do you have for positive accounts?

Message 4 of 5
CreditOCDinCali
Regular Contributor

Re: 3 years and not much success

I had 5 credit cards which I didn't do well with. I maxed them out and couldn't pay them off. My credit union offered me a debt consolidation loan @ 10.2% with a 611 credit score. So they paid off all my cards and closed them. My APR was 24% on my cards so obviously the loan was a better option. I pay $180 per month for 3 years. I only have 1 open card. Its Credit One with 16% APR much lesser than the 24% Capital One cards I had. The max is $500,I only use for gas and transport. I have Fingerhut $2500 line and Macys $700 line. All in good standing.
Message 5 of 5
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