HOW TO GET A 720 SCORE

[cdub69]

I am rebuilding my credit.My goal is to reach a score of 720.My score now is 619.Here is my current situation:

I have a paid judgment in 2006: DOFD(Nov 2013)

Unpaid collection for $5,000.00: DOFD(Feb 2014)

Paid Charge Off OFD(May 2014)

Repo OFD(Feb 2015)

Unpaid Charge Off OFD(July 2011)

I have 3 credit cards with limits of (500,400 &200) Kay Jewelry (1,600.00)

What can I do to raise my score even further?Would secured loans help?

[Anonymous]

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@cdub69 wrote:

I am rebuilding my credit.My goal is to reach a score of 720.My score now is 619.Here is my current situation:

I have a paid judgment in 2006: DOFD(Nov 2013)

Unpaid collection for $5,000.00: DOFD(Feb 2014)

Paid Charge Off OFD(May 2014)

Repo OFD(Feb 2015)

Unpaid Charge Off OFD(July 2011)

I have 3 credit cards with limits of (500,400 &200) Kay Jewelry (1,600.00)

What can I do to raise my score even further?Would secured loans help?

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If you can get the paid judgment and CO removed you may see a slight increase.  But with the other major baddies still on your CR it is iffy.

I don't think any more CC are going to help you much.  You still have too much negatives on your CR.  Paid and unpaid collections and COs are still negatives in FICO eyes.

You should focus on repairing before you attempt to rebuild.

[Pushto700]

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@cdub69 wrote:

I am rebuilding my credit.My goal is to reach a score of 720.My score now is 619.Here is my current situation:

I have a paid judgment in 2006: DOFD(Nov 2013)

Unpaid collection for $5,000.00: DOFD(Feb 2014)

Paid Charge Off OFD(May 2014)

Repo OFD(Feb 2015)

Unpaid Charge Off OFD(July 2011)

I have 3 credit cards with limits of (500,400 &200) Kay Jewelry (1,600.00)

What can I do to raise my score even further?Would secured loans help?

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The two worst (no matter the amount $2.00 or $2,000.00) negatives to have on a CR are a C/O or a judgement. C/O's carry a status with it where it can restrict growth and trigger auto denials. My fiance had a C/O in which the company was bought out by GEMB. Account had been C/O before the takeover, so the records just transferred over.

She saw the negative C/O report and DOLA as 4/2004, and she knew that was erroneous. We diputed through the CRA's, verified. We 623 OC disputed - verified. Asked of she was certain. She stated she knew that her last payment was in '02 (because of a situ regarding the passing of someone close to her), and the C/O was late that year. Disputed through the Attny Gen, & BBB - verified.

We threatened to go to the Office of Thrift supervision because they had not provided the proof we requested and were illegally reaging debt out of SOL and past CTRP, and they weren't providing records that we have requested to prove it's validity. They deleted in the "interest of customer service".

I say all that to note that this single old C/O (3-400.00) resulted in a slew of denials. After the C/O, she has since been approved for 2 CC's, 3 store cards, and has an Equifax of 711 as of 2-2010. If you can dispute any inaccuracy with them, get those C/O's off if they are out of SOL.

[creditbroke]

guiness56 wrote:  You should focus on repairing before you attempt to rebuild.

I completely diagree ^

Start rebuilding credit lines A.S.A.P. The sooner you start rebuilding the better, the accounts you add today no matter how small a score boost, will continue to give you boosts as they age. Add a secured line and a secured installment.

Also,dont pay anymore bad debt without sending PFD to the entire chain of command at any given CA you're dealing with.

[creditbroke]

Also , my wife has a charge off thats from late 08. They are extremely bad as pushto700 stated. BUT you can counter thier impact , with positive trade lines. Just  as I stated above , get positive accounts reporting ASAP.

Even with the CO and a paid less than full from the CA who bought it on my wifes report. I brought her EQ to 757 within 30 days.

The key is to counter the negatives as you work your way to removing them or waiting them out.

[Anonymous]

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@creditbroke wrote:

guiness56 wrote:  You should focus on repairing before you attempt to rebuild.

I completely diagree ^

Start rebuilding credit lines A.S.A.P. The sooner you start rebuilding the better, the accounts you add today no matter how small a score boost, will continue to give you boosts as they age. Add a secured line and a secured installment.

Also,dont pay anymore bad debt without sending PFD to the entire chain of command at any given CA you're dealing with.

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Well, you are incorrect and any of the long time posters here will tell you that.

You should not try to rebuild when there are massive amounts of baddies on your report.  Any amount of CC you may get will be overshadowed by the negatives.

[Anonymous]

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@Anonymous wrote:

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@creditbroke wrote:

guiness56 wrote:  You should focus on repairing before you attempt to rebuild.

I completely diagree ^

Start rebuilding credit lines A.S.A.P. The sooner you start rebuilding the better, the accounts you add today no matter how small a score boost, will continue to give you boosts as they age. Add a secured line and a secured installment.

Also,dont pay anymore bad debt without sending PFD to the entire chain of command at any given CA you're dealing with.

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Well, you are incorrect and any of the long time posters here will tell you that.

You should not try to rebuild when there are massive amounts of baddies on your report.  Any amount of CC you may get will be overshadowed by the negatives.

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I'm sure this could have been worded differently.  You both have points worth considering on the topic.  But the tone of your comment may make newer posters feel they don't belong on this board.  Imagine how many valuable veiw-points could be lost.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@creditbroke wrote:

guiness56 wrote:  You should focus on repairing before you attempt to rebuild.

I completely diagree ^

Start rebuilding credit lines A.S.A.P. The sooner you start rebuilding the better, the accounts you add today no matter how small a score boost, will continue to give you boosts as they age. Add a secured line and a secured installment.

Also,dont pay anymore bad debt without sending PFD to the entire chain of command at any given CA you're dealing with.

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Well, you are incorrect and any of the long time posters here will tell you that.

You should not try to rebuild when there are massive amounts of baddies on your report.  Any amount of CC you may get will be overshadowed by the negatives.

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I'm sure this could have been worded differently.  You both have points worth considering on the topic.  But the tone of your comment may make newer posters feel they don't belong on this board.  Imagine how many valuable veiw-points could be lost.

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You could very well have pm'd me.    If you have a problem bring it to me and not the entire forum.

And I do not apologize for my comment at all.   I can't help how you read it.

How do you know what my "tone"  was.  I was stating the simple fact that people who have been here longer and done the repair longer know  to repair first not rebuild.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@creditbroke wrote:

guiness56 wrote:  You should focus on repairing before you attempt to rebuild.

I completely diagree ^

Start rebuilding credit lines A.S.A.P. The sooner you start rebuilding the better, the accounts you add today no matter how small a score boost, will continue to give you boosts as they age. Add a secured line and a secured installment.

Also,dont pay anymore bad debt without sending PFD to the entire chain of command at any given CA you're dealing with.

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Well, you are incorrect and any of the long time posters here will tell you that.

You should not try to rebuild when there are massive amounts of baddies on your report.  Any amount of CC you may get will be overshadowed by the negatives.

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I'm sure this could have been worded differently.  You both have points worth considering on the topic.  But the tone of your comment may make newer posters feel they don't belong on this board.  Imagine how many valuable veiw-points could be lost.

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You could very well have pm'd me.    If you have a problem bring it to me and not the entire forum.

And I do not apologize for my comment at all.   I can't help how you read it.

How do you know what my "tone"  was.  I was stating the simple fact that people who have been here longer and done the repair longer know  to repair first not rebuild.

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I stand by my comment. 

[creditbroke]

Add positive trade lines now. It will pay off slightly now and alot more later.The longer these small secured trade lines are on his report the more good they will do.

To advise a person to spend possibly a year removing the bad reporting without adding anything new is absurd. Whens the last time you took a 500 to a 750+ guiness56?

I've done it 6 times in the last year. And I did it while reading not posting.