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need score of 640- at 627 paid cc"s to 0 HeLP!

tag
Creditaddict
Legendary Contributor

Re: need score of 640- at 627 paid cc"s to 0 HeLP!


@DaBears wrote:

Paying more on an installment will not give you a score bump, Installment loans have there own util% and are not factored in revolving util%. The recent collections are what brought your scores down. The underwriter might make you pay those. However, paid or unpaid collections are scored the same per Fico, unless they are factored into your util%. 

 

DaBears


is it reporting as an installment loan op... I was just wondering because it was a title loan... basically a cash advance with some collateral that it might be some type of loan like some of the furniture stores or something that bring you down... but yes collections would be #1 I think too (the new ones in paticular)

you said the mortgage company did pre-qual in Oct? What scores did they give you?

Message 11 of 12
airedna3441
New Member

Re: need score of 640- at 627 paid cc"s to 0 HeLP!

mine was 603, hers 644, score watch just gave me an alert an hour ago and mine is up to 638!  unfortunately hers only went up to 647. Man! Funny how these things go. And yeah it's reporting as an installment loan. Now I think I just need to give loan officer a call as realtor just wrote me back and told me that the area we were looking in is no longer going to qualify for USDA financing Jan 15 due to Census changing rural boundaries. UGHHH! more problems that means we have to make up our minds quick as what to do.

As for the colletions somebody told my wife that we could send a DV letter per F?? 809 ? and see if they had enough info and if they didn't they had to take it off my credit report? I have no idea what shes talking about but she wants to give it a try.

Message 12 of 12
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