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I need some serious clean up help

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Chena83
Established Member

I need some serious clean up help

Next Fall I may end up applying for students loan. Right now I have reached my arrogate limit. I am a Pre-OT and still have 30 months to complete. SO I am needing some help on getting my credit back on track. Right now I have 4 cc. Capitol 1 bal: $620/ $700 limit. Capitol $434/500 limit, Wal-Mart $438/ $500, Best Buy $258/$300 Limit. I my home in financed $104K. School $85k, then I have 6 collections. 3 from 2012 this year,all 6 collections are medical, then other 3 are from 2007. So what would be my best course of action on getting getting some of this smug off here. I have a car loan$6700, which I will be paying off in the beginning of the year.

Message 1 of 6
5 REPLIES 5
madmann26
Valued Contributor

Re: I need some serious clean up help

1. Stop using your credit cards.
2. Pay down credit cards
3. Start the GW process on the CA's. Try to get PFD's for them. If not go ahead and pay them and GW them later.

Current FICO 9 Scores



Message 2 of 6
jandj80
Regular Contributor

Re: I need some serious clean up help

I would not recommend paying off your car loan early if that is your plan. That is an established account, and I would assume the balance is low, both of which give you a boost. Once we paid off our car loan of 5 years we lost about 20/30 points. Pay those cards off. And get some PFD offers out on those collections. 


Starting Score: EQ 416 TU 498 EX 468 Lender Fico's July 2012
Current Score: EQ 674 TU 679 Ex 686 EX
Goal Score: For now: 640s


Take the FICO Fitness Challenge
Message 3 of 6
Shogun
Moderator Emeritus

Re: I need some serious clean up help

+1  You need to pay down the util down on those cards before you pay off that car loan.  Send PFDs for anything not paid that has been validated after DVs on the collections.  Anything that is paid needs GWs sent.  Good Luck!

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 4 of 6
Chena83
Established Member

Re: I need some serious clean up help

THank so muc guy. SO I should not pay off the car and pay for the cc to 0?

Message 5 of 6
Shogun
Moderator Emeritus

Re: I need some serious clean up help

Yes, your credit card bills are at a much higher rate I'm sure.  Plus the util on your car loan doesn't factor in like the cc util does.  Pay those cards down first, keep the payments current on your car.  You'll start seeing boosts in your scores.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 6 of 6
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