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Can someone please help me?

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umfaisal
New Member

Can someone please help me?

I hope someone here can help guide in the correct steps I should take to help get my credit in good standing. So far I only have my transunion report. my transunion score is 625 and my equifax score is 585

 

I have 4 credit accounts in good standing (All opened in the past 3 years), I have 2 school loans and 1 credit card charged off (0 balance now)

I have 5 accounts in collection.

 

Any ideas of what i can do ??

Message 1 of 19
18 REPLIES 18
nicholasyud
Valued Contributor

Re: Can someone please help me?


@umfaisal wrote:

I hope someone here can help guide in the correct steps I should take to help get my credit in good standing. So far I only have my transunion report. my transunion score is 625 and my equifax score is 585

 

I have 4 credit accounts in good standing (All opened in the past 3 years), I have 2 school loans and 1 credit card charged off (0 balance now)

I have 5 accounts in collection.

 

Any ideas of what i can do ??


Everything can get done but you need to spend a lot of time reading and come with ur own solution.

Everyone account or credit is different. First start by list all the collection and charge off account so we have a lil bit of idea where you stand.

Etc: When ? Who ? what company ??? How much ?? .......

Starting Score: 560
Current Score: ?
Goal Score: 800
Message 2 of 19
guiness56
Epic Contributor

Re: Can someone please help me?


@umfaisal wrote:

I hope someone here can help guide in the correct steps I should take to help get my credit in good standing. So far I only have my transunion report. my transunion score is 625 and my equifax score is 585

 

I have 4 credit accounts in good standing (All opened in the past 3 years), I have 2 school loans and 1 credit card charged off (0 balance now)

I have 5 accounts in collection.

 

Any ideas of what i can do ??


Hi and welcome to the forums.

 

What is the condition of the SLs? 

 

How old are the collections? 

 

Paying a collection won't help your score.  You would need to do a PFD to have it removed for any score bump.

 

Are your open accounts credit cards?  If so, what is your utilization?

 

You can read some of the stickies in my signature to help you out with abbreviations etc.

 

And if you could post some of the TLs it will enable us to give better advice.

Message 3 of 19
umfaisal
New Member

Re: Can someone please help me?

OK i just got my Experian credit report:

 

*

BANK OF AMERICA (Charge off account)

Potentially Negative Closed   ---opened 2007

0 balance

 

FNCL CORP OF AMERICA

Potentially Negative Closed--------12/1/2012

$2,255.00

 

MIDLAND FUNDING

Potentially Negative Closed----10/1/2010

$842.00

 

PARAMOUNT RECOVERY SYS

Potentially Negative Closed---------1/1/2013

$600.00

 

PARAMOUNT RECOVERY SYS

Potentially Negative Closed--------2/1/2012

 $550.00

 

 

KY RCVRY SERVICES

Potentially Negative Closed------------11/1/2008

$164.00

 

 

 

Message 4 of 19
umfaisal
New Member

Re: Can someone please help me?

I am new to all of this, so sorry if this is a dumb question, but what is a trade line?

Message 5 of 19
umfaisal
New Member

Re: Can someone please help me?

My student loans are in good standing

I have a capital one, credit one, target and walmart credit card. I recently started using only my credit one and making sure everything is paid off,

I also have a rental agreement with rooms to go which is also in good standing

Message 6 of 19
guiness56
Epic Contributor

Re: Can someone please help me?

A tradeline is the same as an account on your credit report.

 

You can get all 3 for free from annualcreditreport.com.  One every 12 months.

 

 Does the report give a fall off date?  I know the ones from the above site includes that information.

 

Do you know what your states SOL is for debt?  Very important.

 

What you need to know is when you first became delinquent with the account and never brought it current again.  This is called the DoFD - Date of First Delinquency.  This is the date a TL is excluded from your credit report.

 

Do you know what the collections are for?  Do you agree that they are yours?

 

 

Message 7 of 19
guiness56
Epic Contributor

Re: Can someone please help me?

For your credit cards, have all but one report a 0 balance and the other report at 9% or below.  This will help your FICO score the most.

Message 8 of 19
umfaisal
New Member

Re: Can someone please help me?

My experian didnt give me any fall off dates, but I will check the other 2 reports to see if they have them. Would the other reports show me when they became delinquent ?

 

I just looked up Texas SOL and it is 4 years... I am not sure what that means though

 

Unfortunately, yes they are mine (most are hospital bills)

 

Message 9 of 19
kroberts67
Established Contributor

Re: Can someone please help me?

Experian shows the drop off date if you order directly from them.

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Message 10 of 19
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