03-10-2011 06:53 PM - edited 03-10-2011 07:53 PM
Hello everyone, It seem as if it is taking forever for my score to rise. I started cleaning my credit report last year because I want to be a home owner. I have one Cap One card unsecured just got it 03-01-11 and a NFCU Secured Credit Card which I got 07-01-10, and my Fico score is still low. My FICO score TU is 582 and my EQ Fico score is 575. I really want to start the process of buy a home by the end of this year. Can some one please tell me what I can do to help raise my score faster.
03-11-2011 01:48 AM
The usual first step in credit repair is to review your CR for old derogs and delinquencies, and try to address them. Your payment history is significant, and can take a lot of time and effor to address.
A suggested plan for your CR review. Dont look first at your CR in terms of accounts, Look at it in terms of each delinquency and derog in your CR.
Focus first on monthly delinquencies on each OC account.
List each monthly delinquency on each OC account by date and severity (e.g., 30-day late 5/2005; 60-day late 6/2005, etc)
Add 7 years from each individual delinquency, and you have a complete summary of when each monthly delinquency individually drops from your CR.
After doing that, then turn to each charge-off and collection in your CR.
The single date to identify for each CO and CA is the date of first monthly delinquency on the OC account that preceded the CO or CA. Just go back to the list of OC account delinquencies already compliled, and locate that date. Add 180 days to that DOFD, and the OC or CA must drop from your CR after 7 years from this date.
What to pay first, and how to address offers to pay, depends upon the severity and age of each derog. For each unpaid debt, first determine if the statute of limitations has expired. These have the potential for legal action. They call for priority consideration. A PFD offer on an account that is still within SOL runs a risk of legal action, but runs the benefit of CR deletion. CR repair strategies often don’t have one single answer.
03-12-2011 07:21 PM
Thank you so much for your advice when I get out of this hell of debt I will be so happy.
03-13-2011 08:00 AM
I have 5 accounts in collections 2 are the same accounts one just sold it to another and that is CBE Group they bought it on 11-23-05 and sold it to Afni on 7-5-10.
They are showing up on my credit report that I owe them both. Why is that should I call and dispute that ?
Also my student loans which was consolidated, and now I am in the rehabilitation program six months in three months left, and Arrow Financial is the last one.
My credit history is 16 years and 1 month. I have been cleaning my credit since last year and this is what is left so I am hoping that once I get this out of the way that I will see a rise in my score even more.
04-07-2011 05:32 PM
*****Update everyone***** CBE was deleted off of my CR today. I sent them a DV letter CMRRR and I read the other day on CB's once I got the green card back called and disputed it. So I called yesterday and disputed it with TU and got an alert today and it was deleted off of my TU report. I'm so happy, I'm so happy