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