Realistically, how long will it take my score to rebound

[Anonymous]

Currently, my scores all hover around 580.  I have 3 Charge-Off's from Credit Cards totalling about 8K that are more than a year old.  On the positive side, we've had two mortgages and a Lowe's card which have NEVER been paid late.  I have just opened two new credit cards, with VERY low Credit Limits just so that I have something that I can pay every month.  Having no experience with Credit Scores, if I stay clean and pay everything on time, what type of reaction will I see in my credit scores ??  Can I realistically expect my score to jump to 650 within a year ??  Thanks in Advance.

[LIGHTNIN]

Hard to answer your questions without knowing all of your CR.

Are the 3 CO's paid? Did they go to CA's and are they paid?

Do you have any more baddies that can be fixed?

Do you have a good credit mix? 

[Anonymous]

Thanks for reading LIGHTNIN.

To answer your question, NO, NONE of the CO's have been paid.

I'm new to this credit repair stuff, so I am looking for advice what to do.

Right now, there are no CA's reporting any information to my credit report.  There are only the three Charge Off's, but I do know that they've been sold

to CA's.  Should I pay the CA's even though they are not reporting to my Credit Report ??  I have NO IDEA what to do here.

[Anonymous]

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HelpWithChargeOffs wrote:

Thanks for reading LIGHTNIN.

To answer your question, NO, NONE of the CO's have been paid.

I'm new to this credit repair stuff, so I am looking for advice what to do.

Right now, there are no CA's reporting any information to my credit report.  There are only the three Charge Off's, but I do know that they've been sold

to CA's.  Should I pay the CA's even though they are not reporting to my Credit Report ??  I have NO IDEA what to do here.

---

The COs are only a year old? It will take a while for the hurt to fade from them. 

First, you want to make certain they have been sold or not.  If they have, you can't deal with the OC any longer to pay them and a CA could pop up on your report at any time. 

Watch for any signs of a CA trying to collect-- unknown calls, letters that may appear to be junk, etc. 

Can you PIF for these? 

Keep your current and new accounts up to date, positive, low balances, and you will slowly rebound.