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Newbie needs LOTS of help please!

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gckbg81
New Member

Newbie needs LOTS of help please!

I need help on where to begin! I just pulled my FICO and it’s 600. Me and my husband want to get a house together sometime next year. His credit is perfect, mine on the other hand has a lot of black marks due to non paid debt, collections, etc. I have 4 active cards, (Merrick, 2-Capital One, HSBC) and they are all paid on time never late. But the balances are high =( I’m currently trying to pay them down and hoping my score will go up after that. But what about all the collections and black marks? I always heard not to wake a sleeping dragon but some accounts are from 2001 and are being reported as recent as April 2012 with balances from collection agencies. Will these ever go away or do they need to be paid and settled? PLEASE HELP!! I’m lost right now!

Starting Score: 600
Current Score: 600
Goal Score: 720


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Duncanrr
Valued Contributor

Re: Newbie needs LOTS of help please!

1. High credit card utilization can kill your score. You will see good improvement by paying them off and getting UTIL below 10%. 2. Check date of first delinquency on collection account. If over 7.5 years then it shouldn't still be reporting. 3. We need specific info on card balances and collections to give you specific advise but in addition to paying down cards you need to look at disputing old collections and PFD options. (pay for delete)


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

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