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My Experian FICO is 513. I have multiple accounts in collection, mostly medical. About 4 CC closed, 1 by me the rest by the creditors. My 2 car loans and student loans are in good standing. Where do I start to get my credit on track. Is there a good thread to read for this? I'm a little lost with the lingo like "buckets". Is it bad to pay off the stuff when I get the money? Should I get a secured card? I'm really lost. Any help appreciated. - Ryan
First where did you get your Experian FICO score? Experian FICO score can Only be pulled by banks or mortgage lenders.Comsumers can not get EX FICO scores.Your actual FICO maybe higher or lower then 513.
There are only a few places to get FICO scores and one of them is here at myFICO. You can get EQ or TU.
"buckets" is a word used here referring to FICO scoring, about grouping people with like spending habits, so if you change your habits you may change scoring buckets.
To start with get your current CR's, you are allowed one FREE CR from each of the 3 CRA's, once every 12mos.
Go to annualcreditreport.com and save your money don't buy the scores, they are what we call FAKO's.
I would suggest reading Credit Scoring 101, then check out the other stickys at the top of the board.
Study or make a copy of the common abbreviations, to understand the lingo here. (use link below if you wish)
Collections call really ding a score, especially recent ones by about 80 points.ouch!
FICO scoring sees a paid collection the same as an unpaid collection, no score change. But now if you can get the CA to delete the collect, you may or may not see a score change. Look at PFD Letter, it an written agreement with the CA, that you agree to pay and the CA agrees to delete,win win situation.
Reading What Steps Do I Take?Do I DV?PFD? to learn the steps for DV and PFD letters.
Credit repairing and rebuilding takes time, so read as much as you can and if you have to ask questions come back here.
Welcome to you both I would like to add that repairing and rebuilding your credit is
a game of UPS and Downs, just keep at it, ask questions and it will pay off in the end
Ditto to what Lightin said.
@MrsDevilish wrote:
Also when the judgments come off how much of an increase will my score get? Im so hoping to be in the 700 club by this time next year.
There are SO many variables that it is really had to say.
Has a lot to do with what other information is on your
CR.
@MrsDevilish wrote:
Thanks for the welcome. I started down the road of repair by disputing the judgment that is listed on my reports. I had a lawyer fight thisover a year ago and she had it vacated but it is still showinf on my reports. I also have the court documents showing it was vacated if the cra do not remove it. After reading here about the oasis program I contacted amex and they are going to send me a packet for the optima card. So what do I do next? Also when the judgments come off how much of an increase will my score get? Im so hoping to be in the 700 club by this time next year.
I only got 3 points when my judgment was deleted. But my reports are a mess. But this was the most recent derog so I was majorly shocked I didn't see a big boost.
@MrsDevilish wrote:
How do I check my score?
You can buy your FICO score right here on this website. Please don't go to places that advertise a FREE credit score -- they are fake. If it doesn't say FICO® then you are getting ripped off.
To get your FICO score, please click here.