New here - Another newbie Q - Low Score of 400

[vfree]

Awww thank you

[n0smirc]

Hey, you're taking the first step. Congratulations. You're taking responsibility for your debt and starting on a path to lift that burden off your shoulders. This is a wonderful thing to do.

As far as collections, try to arrange for pfd (pay for delete's) if you can and good will off the paid accounts. You may not get the response you're looking for the first time around, but keep trying, get secured cc's to build credit anew and keep that utilization low and pay in full!

I started out in 400 land last year around this time, I believe, so I've been there. I felt despair when I pulled my score, I had been trying to avoid knowing how bad it was for a while. My lender recently repulled my credit to see if I got it above 640 mid, like I said I would and I did, and more! My mid experian shot up to a 693! It was 625 when I learned that my credit card reporting balance drug me down. (I got a few collections removed via goodwill also)

I'm sure you'll be on the other end of your journey before you know it. Just keep at it!

[CreditDrama85]

work on paying or settling all outstanding debt, lowering utilization, and open a few new secured cards. in the process your score will probably normalize/even out. my guess is you would have to clear all debt that is reporting and then have 1 yr of clean history with a new account before seeing a substantial increase, but it can be done. if you have too much debt you also might want to consider BK. if you know you cant clear your balances by paying, you scores will likely remain low until there is a change.

[CAnNY]

Yes. Scores in my siggy! I have come a long way And you can too! Time heals all wounds!

best wishes!!!

[vfree]

Thank you so much I appreciate the motivation.  I feel sick about it.  It is good to know it can happen.  I bought a car at 19% apr only because I was desperate didn't have a car and didn't know what to do.  Long story short I've had this car for 2 years never missed a payment and score is the same so I guess that hasn't helped me.  Thank you again for the positive feedback.

[wHiTeSoL]

You are well on your way to a better credit score, even though the APR is high that car loan you have will show that you've turned the corner and is ready to be responsible. Now it's time to see where you stand: You have your Fico scores, but what's more important is what's on your reports. I

mproving your score takes a two pronged attack:

1.Get incorrect information corrected or removed from your report.

2. Start building positive history like your auto loan or a secured card. 

Like others have said, time heals all credit wounds (except student loans LOL)

[anca21bi]

My credit score was a low EQ 423 in June as of today it is a 560. I disputed, got some lates removed,

paid of collections and there is still more to come. Time is all you need...