Rebuilding Your Credit

[bearssox5414]

Okay, I need to know which direction I should take here. I'm trying to improve my score significantly so I can purchase a house for me and my soon to be fiance. Here's my deal: I have $4,014. in Credit card debt. I have $2,845 in currently delinquent accounts I have paid a lot of collections off...but they're still on my report, and I have no idea how to resolve them. I also have a non-government student loan that is delinquent for 1700. What can I do at this point to raise my score significantly, and get my credit back on track? Can I write letters? Can I try and dispute? I'm just curious because I feel like I"m completely stuck, and have no idea what to do next. All of my accounts that are delinquent are from college, roughly 5 years ago. I'm not even sure of how bad of shape I'm in. fyi my TU:506 EQ: 494 EXP: 525 Thanks in advance

[sidewinder]

bearssox5414 wrote:
Okay, I need to know which direction I should take here. I'm trying to improve my score significantly so I can purchase a house for me and my soon to be fiance. Here's my deal: I have $4,014. in Credit card debt.

What is your current util? Divide total used credit by total CL. You want this less than 9% for max. points in the utilization department.

I have $2,845 in currently delinquent accounts I have paid a lot of collections off...but they're still on my report, and I have no idea how to resolve them.

Collections aren't removed once paid. They remain the full 7-7.5 years from DOFD. Send GW letters for all paid collections.

I also have a non-government student loan that is delinquent for 1700.

Who is reporting this debt? Who owns the debt? What is DOFD? Can you PIF? If so, you may work out a PFD.

 What can I do at this point to raise my score significantly, and get my credit back on track?

What positive do you have?

Can I write letters?

Yes, see above.

Can I try and dispute?

Not anything that is accurate. Disputing is a last step in repair, IMO.

 I'm just curious because I feel like I"m completely stuck, and have no idea what to do next. All of my accounts that are delinquent are from college, roughly 5 years ago. I'm not even sure of how bad of shape I'm in. fyi my TU:506 EQ: 494 EXP: 525 Thanks in advance

[bearssox5414]

My positives are 11 accounts all with 0% to 5% util. I do have two civil judgements, one for 3300 and one for 1600..they are from 1/2002 and 3/2002. I'm guessing they are 7 years, so I'm hoping they come off next year.

[gdtobefree]

Oh lordie break that up next time LOL

CC debt, pay that down as close to 0 as you can and LEAVE THEM ALONE until after you close your loan on your house.

Delinquent accounts, are they CO's? Have they been sent to CA's?

Paid off CO's shame on your for not doing PFD's (shakes finger back and forth at the screen)

Send GW letters and BEG them to remove them since they are paid.

The student loan, is it CO? What would it take to bring it current is the question you have to ask the loan company.

Raise your score, pay down your credit card debt, get those paid CA's off your report.

Did you get your ACTUAL reports from the CRA's?

[gdtobefree]

10 years on those judgements buddy

[bearssox5414]

on Experian, it says the one will come off in 1/2009.

[sidewinder]

Civil and small claim judgments: Remain seven years from the date the judgment is filed.

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=2689

Now, if they are unpaid that is a different story.