What to do??

[Anonymous]

Hello here are the negative items on my report:

Negative Items

Comenity Bank/New York and Company--charge off acct from New York and Company $800.00

Macy's--charge off account $1100.00

Collections

Advanced Recovery (Third Party)--Medical Paid

American Agency (Third party)--Medical Unpaid

Franklin Collections--(Third Party)--unpaid medical

Bay Area Credit--(third party)--paid medical

Hollis Cobbs and associate (third party)--unpaid medical

Medical Data(third party)--paid medical

franklin collections (third party)unpaid medical

Good accounts

Capital One $561.00/$750.00 limit

Captial one  $296.00/$500.00 limit

Bankplus--one 30 day late but account showing paid as agreed.  I owe $277.00 out of $500.00 now

Mississippi FCU--good standing $537.00/$750.00 limit

Sallie Mae--6 accounts all in deferment

US Dept of Education--11 accounts all in deferment

Statewide FCU--$988.00

Judgment

Tower loan--$561.00 showing satisfied

Tower loan--$1700.00 showing satified

What can i do to raise my score 80 points quickly!!  I spoke to the company that gave me the judgments and they informed me that they will not vacate.  What else could i do to raise my score.  I need to buy a car very soon.

Thanks,

[RobertEG]

With 9'ish major derogs, I see no simple fix that would rise to the 80 pt level.

On the paid majors, I would begin requests for their GW deletion.  Those are discretionary on their part, so no time frame for success.

The unpaids can be addressed by sending pay for deletion offers, and hopefully gain their acceptance.  That requires money, and also being discretionary on their part, have to time frame for resolution.  Unpaid delinquent debt, regardless of FICO score, can be basis for declining any new credit.

Do you have a local creditor, such as a credit uniion that you can join?  They might be a bit more receptive to considering the circumstances of all the major derogs rather than reliance only on your FICO score.

[Anonymous]

Yes I am a member of 2 credit unions. Do you think I should pay off my credit cards and installment accounts with bank plus and mfcu?

[RobertEG]

Paying credit cards down to under 10% will give some improvement.  Paying off installment loans will probably give much less.

While useful score managment techniques, they are usually more of the fine tweaking variety than actions that result in score increases approaching the 80 pt level you are apparently seeking.

The major derogs will most likely still overshadow those acts.

Those, in my opinion, are where the significant score boosts will derive.