Tomorrows the day, will my scores be up?

[Anonymous]

I am trying to buy a home and have been working on getting my FICO scores up since Jan. I checked TU a few days ago and the it said my score was 672?  How close do you think this is?

[llecs]

If you are wanting to know if the 672 is on par with then lender's, then I'd respond with a guess of a 60% chance that the lender would pull the same score (given that nothing has changed on your reports within the past few days...scores can change daily).

Most lenders use TU'98 as does this website. However, some do use a TU'04 version that tends to be lower for most people.

[Anonymous]

Well, my TU was only 592.  That means that I am still 28 points away from my new house.  I have paid my 4 cc's down to 25%. Will it help to settle collections and pay cc's all the way off?

[marty56]

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@Anonymous wrote:
Well, my TU was only 592.  That means that I am still 28 points away from my new house.  I have paid my 4 cc's down to 25%. Will it help to settle collections and pay cc's all the way off?

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For best score results, let 1 CC report a balance of 9% or less.  On the collections issue, please look in the forum for how to deal with them, PFDs and such.

[haulingthescoreup]

If you haven't already, please read Understanding Your FICO ® Score and Credit Scoring 101 (at least the first post.)

These will give you the background knowledge you need to understand what you read here on the forums.

Paying collections won't make them go away. You need to do a PFD (pay for delete.) Check Frequently Requested Threads (linked in my siggy) for ideas on these.

Paying all your CC's off except one, and only letting that one report 1% - 4% of its limit will also help.

But collections, especially recent ones, are going to hold you back. PFD's will help, if they'll go along with them.

[Anonymous]

Thanks!  I am going to try PFD, but the one I talked to today said no. I will read through suggested forums to see what to do.  Keeping my fingers crossed for another month.

[PayingTheBills]

Be persistent with the PFD's.  Start by reading up on them as much as you can here on the forums.  There is a "stickied" thread about PFD's and GW's in the "Rebuilding Your Credit" subforum.

Send PFD's to whoever is reporting the debt (OC or CA) after you receive a valid response to a DV letter.

If you have recent PAID collections reporting, try GW letters.  PFD and GW letters are the biggest reason my scores are on the rise.  I was in the high 400/low 500's just 4 months ago!

I give all the credit to this forum, its incredibly helpful mods, its knowledgable members, and my willingness to read EVERY thread I could find.