New to Message Board - Need Help Increasing Credit Score
I must say this message board has a great deal of information and can be overwhelming for someone just starting. But I am determined to improve my credit score. First thing I would like to say is my report reflects so many different things I don't know where to begin. I fell on hard times and had a period when I was behind on various almost everything that would effect my report. I am now in an excellent financial place and back on track. My approach was to just pay everything I owed on my report. However, that has not provided any increase in my score. I also was trying to put myself in a postion to purchase a home and lenders looked at my report and all had the same advice "continue to pay things off on your report". That I did, and again no improvement!
I have many collection accounts and charge-off's and I know that is going to be there for a while. I wish I knew about this forum when paying thing off. I would have requested a PFD instead of just asking them to update the reporting agencies that the account has been paid.
First of many issues...
I paid a settlement to Capital One on a card that was reproting a charged off status . My report now says current status is CHARGE-OFF, but in the comments field it says Settlement accepted on this account. Should the current status reflect paid? How does a senerio like this effect my score? I know this is a lot of info for a new visiter but...... I NEED HELP..