Ready to give up

[Anonymous]

I just cant figure this out. The mortgage company im working worth has me using their credit repair person. Last month they ran my scores and they were spot on with what My Fico said and they forecasted if I pay down my credit cards that I would be at 620-640 in 90 days.

Today they re updated the credit report and Im at 531...I paid one card down and nothing else has happened. I just dont get it

[LShawn08]

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@Anonymous wrote:
I just cant figure this out. The mortgage company im working worth has me using their credit repair person. Last month they ran my scores and they were spot on with what My Fico said and they forecasted if I pay down my credit cards that I would be at 620-640 in 90 days.

Today they re updated the credit report and Im at 531...I paid one card down and nothing else has happened. I just dont get it

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How many credit cards do you still have with a balance ? 

[Anonymous]

Here are the cards aa of today:
Cap1 QS: $67 Balance $800 CL
Cap1 QS: $632 Balance $1500 CL
US Bank secured: $274 Balance $300 CL

The US Bank will be paid to $30 on June 25th and the QS with the $600 balance will be paid of before the statement cycles on August 6th

[LShawn08]

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@Anonymous wrote:
Here are the cards aa of today:
Cap1 QS: $67 Balance $800 CL
Cap1 QS: $632 Balance $1500 CL
US Bank secured: $274 Balance $300 CL

The US Bank will be paid to $30 on June 25th and the QS with the $600 balance will be paid of before the statement cycles on August 6th

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To optimize fico scorces to there fullest, only 1 single card should be posting with a balance.  Your not going to get the lift in scores you need, I think otherwise. If I'm readin this correctly you said you got the first inital score last month, so in all actuallity you still have another 60+/- days to go, be patient and get those balances down to zero.

[Anonymous]

No reason to give up, rebuilding is a long process, paying off one card isnt going to get you where you need to be.  Perhaps if you share the whole picture some folks can assist you.  

[Anonymous]

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@Anonymous wrote:
Here are the cards aa of today:
Cap1 QS: $67 Balance $800 CL
Cap1 QS: $632 Balance $1500 CL
US Bank secured: $274 Balance $300 CL

The US Bank will be paid to $30 on June 25th and the QS with the $600 balance will be paid of before the statement cycles on August 6th

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Pay the US bank all the way to $0

Let the Cap One with $67 ride.

Pay off all of the Cap one $632 balance.

Once those have ALL reported, then check your scores.

[Anonymous]

I just wish I knew why it went down so much. But I am

going to pay them to zero and see what happens

[damnedanddetermined]

Totally agree with Norman..This is a simple fix, dont give up...just improve ) **Only keep a small balance on ONE card **

[StartingOver10]

Utilization is a huge factor: 30% of your FICO score.

Do you have other derogs on your report that just started to report? Those derogs can make a huge impact too.If so, what do you have showing on your report now?

[Anonymous]

No Derogs. Even the credit repair guy doesnt know what happened. Glad Im not paying him lol