Can you still improve your credit score with charge off's and tax liens on your record?

[Anonymous]

I have one released tax lien and one charged off credit card on my report.   I have no revolving credit.   None.  I have an installment student loan of roughly $30k in good standing.   Can I still increase my FICO score evens though I have those deragatory marks on my credit report?   For instance, by getting secured cards and making the payments every month?

[Shogun]

Yes you can.  By diluting the bad with good, you can improve your scores.  But more importantly, you'll improve your file.  Get those good accounts going, let them age like fine wine.  Your scores will follow nicely.

[itgirl74]

Yes, you absolutely can. Look at my scores below. I still have 3 COs on all reports, several collections on EX (some new, soon to be deleted, which is why it's the lowest), and 1 collection on TU. I did get a judgment and a lot of collections deleted, but my scores really started going up when I got new CCs and started reporting on-time payments + keeping my utilization low.

[Anonymous]

I can confirm what others have said; it is possible to improve your credit, even with baddies (including a state tax lien) reporting. 

When I started last July, I was in the 570's. My dig had my current score. I've been able to remove one charge off from my TU, and that's it. The rest was through obtaining new credit, paying on time and more than minimum if not in full, and keeping utilization in check.

Yes, it would be great if I could take care of everything and have all the bad stuff removed, and no, I probably won't be approved for any 0% APR car loans any time soon, but there is enough life during bad credit that as long add you take care of current accounts, you'll be in a great place when the bad stuff does fall off.

Just keep your eyes on the prize and don't be upset if things don't happen quickly. You've got this!