I need some help

[murat533]

I have currently 640 Transunion and 645 Equifax. I have 7 Cc and all 0 balance.
Discover IT secured =$200
Capital one secured =$200
Target =$200
Merrick bank =$600
2x Credit one bank =$500
Elan Financial secured =$300
I have $29000 student loan ( not started yet)and $32000 car loan( has been paying on time)
A lot of UNPAID COLLECTIONS around $5000.
AAA is 2 years.
What do you recommend for me?

[Anonymous]

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@murat533 wrote:
I have currently 640 Transunion and 645 Equifax. I have 7 Cc and all 0 balance.
Discover IT secured =$200
Capital one secured =$200
Target =$200
Merrick bank =$600
2x Credit one bank =$500
Elan Financial secured =$300
I have $29000 student loan ( not started yet)and $32000 car loan( has been paying on time)
A lot of UNPAID COLLECTIONS around $5000.
AAA is 2 years.
What do you recommend for me?

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Are these FICO scores? If not, my first recommendation would be to find out what your FICO scores are. Also a little more detail on how old your collections are. Have you tried to increase any of the limits on your current cards....?

[murat533]

Collections were placed in 2014.These are Credit carma scores.I never tried increasing my credit limits but Credit one did one time.Also waiting for Merrick bank in May.

[rmduhon]

Credit Karma uses Vantage 3 scores which very few lenders use. Sign up for the $1 trial from creditchecktotal.com for your actual FICO 08 scores.

[Anonymous]

Most of the cards were secured. If Target is 6 months old you could try by I believe they pull for a CLi... I don't have that card so don't know for sure. Merrick looks like you know you need to wait till May. The rest are secured so they only will increase with more security deposit.

I would start disputing those collections. They are only 2 years old so most likely you are in the SOL so you need to be careful. The other option if you have the funds is to try Pay for Delete on them. Either way even if your scores are good or get better, the collections are hurting your chances of approvals with prime lenders.

GL.

[murat533]

Thank you for the advices.If I can't pay the collections then how long will they stay there?

[heavyjay]

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@murat533 wrote:
Thank you for the advices.If I can't pay the collections then how long will they stay there?

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The collections can report for 7 years whether you pay them or not.

[murat533]

Do you think I should apply for some cards or no?

[Anonymous]

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@murat533 wrote:
Do you think I should apply for some cards or no?

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At this jucture I wouldn't if it were me. How long have you had  your Capital One and Discover cards, I would work on geting them unsecured and the limits raised. This is just how I would attack it. Not saying that there aren't other ways.

[murat533]

They both 3 months old.