trying to increase score -- how do I do it??

[Anonymous]

TU: 630

I have 1 late payment in the last year, and worked with credit counseling service from 2004-2006 to settle $23k in debt.  Most of the baddies from that experience are close to falling off the report.

I have only 1 CC now (Orchard Bank mastercard), $500 limit and I keep it around 10-15% utilization.  Also have student loans; have never missed or had a late payment in 8 years.

Finding it very hard to up my score, and don't want to go crazy with the CC.  Would hope to eventually have 1 Visa and 1 Amex and keep it at that.

Any ideas for improving my score from all you experts out there?  Thanks in advance!!

[RobertEG]

My first advice is to know for sure what baddies are still hurting your score, and when they will actual drop off.

There are three main types of "baddies," all with different falloff dates.

Delinquencies under the contract terms of each OC account drop at 7 years from the date of each, so know each.

Do you still have charge offs or CAs included in your CR?  These remain for 7 1/2 years from the DOFD on the OC account.

Paying any of all of the above wont remove the derogs until the FCRA drop off dates have expired. So you must know these dates, with certainty.

Unless your credit counseling service obtained PFD agreement with the creditor,they did little to help your credit score, and nothing to secure earlier removal from your CR.

[LIGHTNIN]

Is your score a FICO or FAKO?

Because my EQ FAKO is 577 

and my EQ FICO is 671,  that's alot of difference

[Anonymous]

I am almost in the same situation.  I have debt that was charged off.  I believe it has been seven years.  I pulled a credit report and the original debt did not show, however the debt is still there but with the company that has last bought it.  They of course dont show this as being seven years old, it only shows the age since they bought it.  My questions: How do I determin what the actual charge off date was?  Once I know that and at the point, can I have the debt removed even if it has been sold?  I have three companies and this might be something more than I can do - is there a legit (Clark Howard approved type :}) place that I can contact for their help? 

[BungalowMo]

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@Anonymous wrote:

I am almost in the same situation.  I have debt that was charged off.  I believe it has been seven years.  I pulled a credit report and the original debt did not show, however the debt is still there but with the company that has last bought it.  They of course dont show this as being seven years old, it only shows the age since they bought it.  My questions: How do I determin what the actual charge off date was?  Once I know that and at the point, can I have the debt removed even if it has been sold?  I have three companies and this might be something more than I can do - is there a legit (Clark Howard approved type :}) place that I can contact for their help? 

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Do you have ANY old reports??? 

Do you have the 3 free you're legally entitled to? (if not, go to the free link in my sig & get them)

Are those collection accts paid??

Do you know who was the OC (original creditor)?

What you need to know is the DOFD. (go to abbreviation link in my sig...keep it handy, you'll need it)

What kind of companies???  Collections?

Just an FYI....you'd have been better off posting this in a new thread as it gets lost inside someone elses.

Oh....and Welcome to the Forums!!!!  

Message Edited by BungalowMo on 08-14-2009 01:27 PM

[Anonymous]

You're right; 630 is my TU FAKO (I'm new at this...) but my TU FICO is 656 and my EQ FICO is 646.  So stilll not fabulous.

All of my previous debts show on my report as with the OC; no CAs show up.  How does PFD work?  I'm pretty sure that the credit counseling service I used didn't negotiate for this, but I'd like to understand it.  How would it have helped?

Thanks so much, everyone.  I'm still learning and find this board so helpful!!