Credit Score Increase

[schjones1978]

Hi,

I started the credit rebuilder process in Jan. My Equifax score at that time was a 467. The following was on my credit.

Chapter 13 dismissed
Chapter 7 discharge
Judgment

National Credit
Enhance Recovery
LVNV Funding

IBM SE Credit - Repo 14,500
Santander- Charge Off 26,000
Fingerhut
Merrick Bank
Capital One
Cap One
HSBC
Farmer's Furniture
Credit One Bank

I have one card at that time opened for 8 years but never used.

I opened a card with USAA and Capital One.

Today my credit is a 567 and I would like to reach my first goal of 640. The items listed is what remains on the report:

National Credit- C/O
Santander- C/O
Farmer's Furniture-C/O
Merrick Bank-C/O

Accounts in good standing:

Chase
Capital 1
USAA
Santander- Paid 2005

Any suggestions on the best route to take to reach 640?

[Anonymous514]

FingerHut is BK friendly!

[schjones1978]

I already had fingerhut. The BLa are not longer reporting on my report.

[schjones1978]

BK

[Anonymous514]

But you do not have FH anymore? So reapply. 

[RobertEG]

With four OC accounts currently charged-off, and presumably unpaid, how old is the debt, what is their SOL status, and have any been referred to a debt collector?

An OC account that is currently a CO represents high potential of becoming worse.  Can you provide a bit more info on those debts?

[schjones1978]

Hi Robert!

2years - Merrick Bank, Farmer's, Santander

One year in Sept.15 for National Credit

[RobertEG]

That may add the additional concern of possible legal action.

What is the SOL in your state?

[schjones1978]

I'm in GA. I believe it's 4 yrs.

[gdale6]

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@schjones1978 wrote:

I'm in GA. I believe it's 4 yrs.

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Judicial interpretations in GA have extended the SOL on credit cards to 6 years the same as written contracts. The legislature has never addressed the courts actions and re-defined CC SOL.