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Here is my credit profile....I would like the advice of the knowledgeable members of this forum as to which way to go next?
First I will give my profile
EX 604 EQ 612 TU 614
BoA (secured) $500 Limit $46 owed 26 months old perfect payments
Cap One $750 Limit $600 owed 18 months old perfect payments
CreditOne $550 Limit $400 owed 17 months old perfect payments
Express(Comendity) $500 0
Cap 1 QS1 just approved for it on 12/20/2014.....$500 limit
Collections medical $178 from 07/12
Collections medical $348 from 07/12
Thank you for your help
@Anonymous wrote:Here is my credit profile....I would like the advice of the knowledgeable members of this forum as to which way to go next?
First I will give my profile
EX 604 EQ 612 TU 614
BoA (secured) $500 Limit $46 owed 26 months old perfect payments
Cap One $750 Limit $600 owed 18 months old perfect payments
CreditOne $550 Limit $400 owed 17 months old perfect payments
Express(Comendity) $500 0
Cap 1 QS1 just approved for it on 12/20/2014.....$500 limit
Collections medical $178 from 07/12
Collections medical $348 from 07/12
- Do I pay the medical collections or do I leave them? I saw an educational video today that said, DO NOT pay the collections because "the damage is already done and they can't hurt me any further." Is this accurate or eroneous advice?
- If you guys think pay the collections, do I go the PFD route?
- i know that I need to pay down the two Credit One and the Capital One Cards to $100 each....which way is best?
Thank you for your help
You should try for the PFD route for the collections,
you need to get your utilization down. As soon as you do that your scores will go up. Even a $100 balance is high on a $500 CL. Pay everything off in full each month if you are able.
Are the collections within SOL?
If so, they might still bring legal action seeking a judgment.
Additionally, as long as the debt remains unpaid, it could be basis for declining future credit, such as a mortgage loan.
@Anonymous wrote:
@Anonymous wrote:Here is my credit profile....I would like the advice of the knowledgeable members of this forum as to which way to go next?
First I will give my profile
EX 604 EQ 612 TU 614
BoA (secured) $500 Limit $46 owed 26 months old perfect payments
Cap One $750 Limit $600 owed 18 months old perfect payments
CreditOne $550 Limit $400 owed 17 months old perfect payments
Express(Comendity) $500 0
Cap 1 QS1 just approved for it on 12/20/2014.....$500 limit
Collections medical $178 from 07/12
Collections medical $348 from 07/12
- Do I pay the medical collections or do I leave them? I saw an educational video today that said, DO NOT pay the collections because "the damage is already done and they can't hurt me any further." Is this accurate or eroneous advice?
- If you guys think pay the collections, do I go the PFD route?
- i know that I need to pay down the two Credit One and the Capital One Cards to $100 each....which way is best?
Thank you for your help
You should try for the PFD route for the collections,
you need to get your utilization down. As soon as you do that your scores will go up. Even a $100 balance is high on a $500 CL. Pay everything off in full each month if you are able.
I'm sure the utilization is holding the OP back than those medicals.
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:Here is my credit profile....I would like the advice of the knowledgeable members of this forum as to which way to go next?
First I will give my profile
EX 604 EQ 612 TU 614
BoA (secured) $500 Limit $46 owed 26 months old perfect payments
Cap One $750 Limit $600 owed 18 months old perfect payments
CreditOne $550 Limit $400 owed 17 months old perfect payments
Express(Comendity) $500 0
Cap 1 QS1 just approved for it on 12/20/2014.....$500 limit
Collections medical $178 from 07/12
Collections medical $348 from 07/12
- Do I pay the medical collections or do I leave them? I saw an educational video today that said, DO NOT pay the collections because "the damage is already done and they can't hurt me any further." Is this accurate or eroneous advice?
- If you guys think pay the collections, do I go the PFD route?
- i know that I need to pay down the two Credit One and the Capital One Cards to $100 each....which way is best?
Thank you for your help
You should try for the PFD route for the collections,
you need to get your utilization down. As soon as you do that your scores will go up. Even a $100 balance is high on a $500 CL. Pay everything off in full each month if you are able.
I'm sure the utilization is holding the OP back than those medicals.
I can pay the two cards down right now? I will do that first....
Okay,
I was thinking about my next move for the last week or so...and I wanted to make a move that would be of the greatest advantage to my credit. After the advice of you guys, I just went online and paid the Cap One and the Credit One cards COMPLETELY off! I know that my utilization was out of whack...so I am glad this was the move to make...thanks
I will keep you posted as to how things unfold over the next few months.