Rebuilding Your Credit

[dciples]

My credit scores have been increasing each month. I have some old collections on my reports and am wondering if anyone knows or experienced themselves reaching a high score over time, even with collections on their reports?

I'm hoping to reach a 660+ with collections on my report. 

Note: I understand everyone's situation is different, just wondering if it's possible?

[mnosal9]

Yes it is possible, As the collection ages the scores will go up then when it falls off there wont be that much of a difference in your scores all depending on the age of the collection. Try disputing it if its paid.

[guiness56]

Even if they are paid that is not a basis for a dispute.

[dciples]

So far, they are not paid at all. 

[guiness56]

Are they your debts?  How old are they?

[dciples]

Yes, they are mine. They range from less than a year to over 6 years. I do understand the whole falling off after 7 yrs.

[guiness56]

It really depends on what you want to accomplish.

The newer the collection the bigger impact on your score.  If you have the funds to pay, you can start with sending DV letters.  If they validate, send a PFD.

What is your states SOL on debt?

[Mondavi]

Well the negatives that are less than a year are the ones really hurting your scores. I have 3 CO's still on my report two are over six years old and one is over five years old with a balance still. My util is at 3%. I still have two FICO scores just over 700.

The collections that are over six years old you could always dispute, however if they are unpaid you may wake a sleeping dog. Could you give us an idea on what collections you have? Some of these collections agenices will do Pay for Delete letters.

[guiness56]

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Mondavi wrote:

Well the negatives that are less than a year are the ones really hurting your scores. I have 3 CO's still on my report two are over six years old and one is over five years old with a balance still. My util is at 3%. I still have two FICO scores just over 700.

The collections that are over six years old you could always dispute, however if they are unpaid you may wake a sleeping dog. Could you give us an idea on what collections you have? Some of these collections agenices will do Pay for Delete letters.

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You cannot dispute accurate information.  Just because they are over 6 years old does not make them disputable.

[dciples]

Like 3 Medical collections (Express Recovery, IC Sysyems INC and Metro Area Collections) and 1 old Verizon bill that went to Pinnacle Financial (Oxford Law was hired from them), for $520. Pinnacle said flat out they won't do a PFD. I've sent PFD to the med collections. Heard from 2, still waiting on one.