FINALLY IN THE GOOD CREDIT RANGE!:)

[Anonymous]

You've done amazing! I just started the other day at 527 and my goal is to at least get to 650 in the next two months! Any tips would be great!!!

[Adkins]

Congratulations!

[Newbie2018]

Thank you @adkins

@creditchamp2017 Honestly this forum is all you need to get there! I read and read and asked questions(no question is a dumb question here) and everyone especially the community leaders and senior contributors are so helpful. I payed off almost all of my collections accounts and chargeoffs which is where most of the point increase came from as well as paying down my credit cards. It's only been a little over a month so i can say paying off the collections is what helped me the most and getting them deleted through good will's and pifs. 

[Anonymous]

My advise as well!  I was so close to pulling the trigger on hiring a credit cleanup service.  Most are a waste of time and money.  Everything I've done has came strictly off of the MyFico forums!

Great boards.  Great information.  Wealth of knowledge.

Good luck to you with your rebuild!!

[Anonymous]

Unfortunately I don't have the money to pay off all my collections But I was finally able to get some credit cards in the last month which surprised me... hoping that with paying them off every month and showing responsibity it will help! 

[Newbie2018]

According to this forum, and I did test this out. Having a total of three cards max will get you a score increase. Using the azeo (all zero except one) works alongside with it. This means having only one of your cards reporting a balance of 8% utilzation each month with all the rest at zero. You can rotate the cards each month having a different card report 8% or less with all others zero. Credit card builds good payment history and that gives you data points after a while. The breakdown for each section to a FICO score is somewhere in this forum but here is a estimated idea
New credit (10% of FICO)
Credit history length(15% of FICO)
Payment history (35%)
Credit mix(10%)
Amount of debt (30%)

Showing good utilzation is one part of rebuilding. But you must work on getting the collections and negatives taken care of along with it or you won't see a maximum increase of scores. Set up payment plans if needed. Although some don't recommend it because it resets the statue of limitations. I'd say the first step for your collections is send debt validation letters to all ceditors listed on your paper credit report. To get a good idea and break down you could go to annual credit report.com to get a free copy of each credit bureau report. Also you can obtain the date they are due to fall off from those reports as well. Possibly update your original post to include what all you have on your credit report so others can chime in and help you out .Good luck to you and hope your rebuilding journey has tons of success.

[Anonymous]

What are debt validation letters?? 

[Newbie2018]

Basically it's a letter to the creditor asking them to validate the debt belongs to you. It's not saying that your denying that it's your debt but just validating them. You'd be surprised how some of the creditors don't have all your information correct for that debt. Some don't have account numbers or dates of first delinquency etc. I've never had to send one but search Google and this forum for more information on them.

[Anonymous]

Congrats Newbie! Keep up the good work!

[Newbie2018]

Thank you so much! I took a dive in my score because my car loan was paid off and closed. Waiting on the new one to report. I'm surprised I'm not going crazy right now because of the drop in score. I'm learning patience is key. Something I have very little of but I'm learning lol.