424 credit score :( any advice would be appreciated

[Anonymous]

okay so first i would like to say hello and thank you in advance to anyone who is willing to give me alittle advice THANK YOU  

I am 20 years old and before i became ill last year i was in the process of building my credit and was so far in the mid 600's i had a daniel's jewelers account that totalled $500 and college credit card with a $150 limit and a credit one card with a $300 limit i had also taken out a $2000 dollar loan with rise and a $255 dollar payday loan, right after i had taken out the loan with rise i became ill and had to quit my job. Now i am doing better but am still no longer working but my credit score really took a nose dive. Mid September i checked my credit score via credit karma and it was 424. The accounts that are shown on my transunion credit report are:

Daniels: is shown as open and 120-149 days late with a balance of $506 9missed payments

Rise: is shown as closed and purchased by another lender but before it was closed the balance was $3800

1FBSD: current balance $151 limit $150 1 missed payment

Credit one: current balance  $342 limit $300 2missed payments

and another jewelry account that is closed. Then i have 2 collection account

AD ASTRA REC(payday load): $315

UNIQUE NTL C(county library) $57

so far i paid the payday loan and when i did my score went to 470 and lasy week i paid the library but havent seen it reflected yet. i brought my credit cards that i do have below the availible credit limit $151 is now $28 and $342 is now $244 (still working on getting it to 10% usage) i also set up a payment plan with the company that daniels wanted me to pay but i started the payments at the end of last month and still have not seen daniels change the balance. Lastly i set up a paymeny plan with the company that holds the Rise loan. At this pont my score is 494 and yesterday i applied for a capital one secured card and got approved for a $200 CL with a $49 down payment is there anything else that i can do to help my report, like is it possible for me to get them to remove those collection accounts all together since they've been paid and if so will that help my score? 

[Whitneyy]

Good morning,

I have some suggestions that I know will work. 

Unique will do a pay for deletion, so pay them the $57 and they'll delete from your credit. You may have to contact the library and pay directly. 

Credit One will remove late payments by asking for a good will, but ebfore you do this, I think you should pay down the card to show good faith before requesting this goodwill. 

You did the right thing by obtaining the secured card, this will take a lot of time and patience.

Good luck!

[Anonymous]

good morning and thank you  

i paid the library last week so i gues ill just wait for about a month and if its not removed i will contanct them and i didnt know that i could do that with credit one, thank you!!

[Anonymous]

Get with all your creditors that are charged off or closed and request pay for delete. If they won't, after they are paid, start your goodwill letter campaign. Get your free report and check every entry line by line. Note any inaccuracies and dispute those as needed. And read. There is a treasure trove of information on here, including sample dispute, goodwill and validation letters. Welcome to the forums!

[Anonymous]

Sounds like you are on the right track.....sometimes it takes a bit for things to catch up with your reports - so have patience.   I got gung ho about my credit over the summer - I'm still waiting for my last credit card to report to the bureaus.   I basically started in August and between having things fall off and applying for new credit lines - I think the last thing will hit my report this week (statement cuts tomorrow).   At that time I will really know how all my work has paid off. 

Work on pay for deletes (PFD) and goodwill (GW) campaigns on the ones that have been paid.  Keep you balances low (less than 10%) and have at least 3 lines reporting plus an installment loan if you can.   After that - just pay on time and garden and your score will grow!

Good luck

[OMW2_HighAcheiver]

So if an account is in charge of status, but within 7.5 years, I can offer the CA PFD?

[Anonymous]

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@peaved_about_credit wrote:
So if an account is in charge of status, but within 7.5 years, I can offer the CAPFD?

---

if I can offer some suggestions:

If you  have a CO and a CA, you have two accounts associated with one debt, and that is usual.  The OC (mine were almost all CCCs) did a CO and then sold the debt to a CA, who then pestered me.

First, I would verify the SOL for CC debt in my state.  Assuming it is beyond the SOL, you cant be sued, although you would have to show proof of being beyond SOL.  In that case, you could offer the CA a PFD.  If they accept, it would make the debt satisfied and also delete the CA account.  You would still have the OC account.

Technically, you can offer the CA a PFD at any time.

After the max time of 7.5 years, it will no longer be displayed on your regular CRs for both the OC and also the CA.  If not paid, it will still be an open debt, just not displayed..

In some cases, a mortgage lender could pay extra to get a 'full and factual report' that would show excluded items like the unpaid debts.  Employers looking for candidates that require a Security Clearance could also be effected.  I am not sure how far back a full and factual report will go, but I think it is generally believed to be 10 years.

HTH