Am I on the Right Path ???

Anonymous · ‎08-31-2017

Looking at Rebuilding and would like to see 700 in the next year or two..

Right now all scores around 550 per CCT

3 Cards

NFCU 4750/5000

Credit One 0/400

Cap One 525/600 ( Will be paid in full next week)

2 Collection accounts

Caine and Wierner 245- PFD on 8-17-17 Have not seen anything report yet but was told its gonna happen

Account Resolution Service 695 Have not done anything with this old medical bill

Student loans of 11k in default, finish rehab on 9-15-17

Currently bring home about 3100 a month

Any Advice, NFCU card UTI is high because I am young and DUMB. Will not happen again ( TRUST ME)

Anonymous · ‎08-31-2017

What if any can i expect my scores to do after the one PFD is removed, my cap one card is pif and student loan rehab finishes. Signifigant ?

Anonymous · ‎08-31-2017

@Anonymous wrote:
Looking at Rebuilding and would like to see 700 in the next year or two..

Right now all scores around 550 per CCT

3 Cards
NFCU 4750/5000 I would bring this to about $500 for 10% UTL
Credit One 0/400 Do you have an annual fee on this?
Cap One 525/600 ( Will be paid in full next week) I would bring this to about $60 for 10% UTL

2 Collection accounts - What are you doing with this at the moment?

Caine and Wierner 245- PFD on 8-17-17 Have not seen anything report yet but was told its gonna happen - Did you get a verbal or written removal?

Account Resolution Service 695 Have not done anything with this old medical bill - Might have to do a PFD on this as well (WITH written removal)

Student loans of 11k in default, finish rehab on 9-15-17 - Need those positive on-time payments starting to show on CRAs

Currently bring home about 3100 a month

Any Advice, NFCU card UTI is high because I am young and DUMB. Will not happen again ( TRUST ME) It happen/ed to the best of us. Look forward now and learn from here.

Anything else on your reports? loans, auto loans, etc?

Anonymous · ‎08-31-2017

@Anonymous.

The UTI on the NFCU card is another factor that will continue to hurt your scores until the balance is paid off. For FICO scoring purposes, it is good to have 3 accounts (which you do) and 1 installment loan, but only 1 needs to report a balance at less than 10% and the others at zero. It is hard to predict how much your score will increase because of the numerous factors involved such as your collections, whether there are COs, and your UTI.

Anonymous · ‎08-31-2017

The first PFD was a verbal yes pay us and we will delete within 30 days. No other auto loans or personal loans. Had a home and Sold it so no Home loans either at this stage. So my profile is pretty light, at least i feel like it is.

Anonymous · ‎08-31-2017

Would it benefit me more to pay off my cap one card to zero and work on paying down NFCU ?

Anonymous · ‎08-31-2017

@Anonymous

It would be a step in the right direction. Getting UTI on the NFCU under 90% would be good also, preferably to under 75% to begin with might provide some boost, but getting that card under control will help alot.

Anonymous · ‎08-31-2017

@Anonymous wrote:
Would it benefit me more to pay off my cap one card to zero and work on paying down NFCU ?

Step 1: Get tupperware container. fill with water. place NFCU card in container. seal it. place in freezer. better yet, place in relatives freezer (as in someone elses freezer, not the one in your house)

Step 2: Pay off Cap 1 now. You have two near maxed cards. Overall utilization will still be high, but at least its only on one card.

Anonymous · ‎08-31-2017

Card is Officially in the freezer. Cap one is paid as of today, so Only one card showing balance but its like 98 percent balance. Will try to get paid off by DEC.

Anonymous · ‎08-31-2017

@Anonymous wrote:
Card is Officially in the freezer. Cap one is paid as of today, so Only one card showing balance but its like 98 percent balance. Will try to get paid off by DEC.

Good plan.

@If you keep those other two cards @ $0, your scores will go up and up as utilization on that NFCU comes down.