Trying to improve score since July-2005.

[Anonymous]

Hi folks,

I have attempted to recover from bad credit since July 2005. Unfortunately very slow progress and I would appreciate feedback. We were 120 days delinquent  on the mortgage and I sold the house. With the money I received we paid off all the bills. We had two Public filings which we paid and since then one has fallen off the reports. The other one was filed Feb 2003 so I believe it will come off Mar 2010. Since then I have opened two credit card accounts Captial One ($500 limit) and one with First Premier($250) limit. the thought here was that if I keep them current then my scores would rise. So far no late payments for over 2 years (Cap One) and same for First Premier (7 months).

So far the scores are rising but very slowly. When currently using Credit|Check Total (experian) my scores reported are 656 Experian, 644 Transunion and 634 Equifax. Fico over all is reported as 636. I really would like to know whether the steps I have taken are correct and is there anything else I can do. The hope is to be able to re-buy the house we are currently renting but I want to also improve our scores just in general and just need some outside thoughts on my approach.

if you read this and respond be gentle as I am not able to easily understand the abbreviations. If this should go to another forum, my apologies and I'll repost. Thank you

[vawt]

-Try sending a Goodwill letter (GW) to the old mortgage lender asking them to forgive your late payments and make a "goodwill" adjustment.  Be honest about your past situation, it can't hurt.  Search the site for examples of a letter format.  If you have any other late payments on any accounts, try sending GW letters on those as well.

-Do not apply for any new credit right now.

-Keep paying on time (good job on your credit cards0

-What is your credit utilization on those two cards?  Try and keep it under 10%.  Also, try to alternate usage and not carry a balance on one of them.  I would advise only using the First Premier card every few months and then going online to pay it off immediately.

-Call Capital One and ask for a credit line increase.  Paying on time for 2 years should help getting you a better limit (maybe $1,000?)

-Don't know much about public filings.  You are only 9 months away from it falling, so maybe just get ready to dispute if it does not fall off next March.

Good luck and keep it up!