topic Re: Needs Help Desperately! in General Credit Topics

Needs Help Desperately!

Anonymous — Fri, 08 Jun 2007 06:35:29 GMT

I'm planning to refinance my house and at the same time get an equity out of the house. At this moment my score is 664. I'm trying to wait like a couple of weeks to see if there are any more changes in my credit score. The last my 2 months I paid off 2 of my credit cards with a balance of $164, and $150. Right now its still not showing in my credit report. Is there a way to request for the Credit Card company to post the recent payment. Is it worth waiting to wait 2 weeks to see if there will be any changes?

Thank You.

Re: Needs Help Desperately!

Tuscani — Fri, 08 Jun 2007 13:10:04 GMT

You can try a rapid rescore...Personally, I would just wait it out.

Message Edited by Tuscani on 06-08-2007 08:10 AM

Re: Needs Help Desperately!

Anonymous — Fri, 08 Jun 2007 13:42:47 GMT

How does the rapid rescore work?

Re: Needs Help Desperately!

Tuscani — Fri, 08 Jun 2007 13:44:49 GMT

Rapid rescoring works by providing info to the bureaus outside their normal reporting schedule of 30-45 days.

The info provided, on letterhead from the creditor, specifying what action is to be taken (most common are: remove lates, update balance, delete tradeline) is faxed to the bureau (TU, EXP and/or EQ) which then investigates to make sure claim is valid. Tradeline is upated & credit report is rescored. Takes 3-5 days. The costs involved vary... I believe your broker has to initiate the process unless you can get in touch with special handling depts at the CRA.

And remember... There is no guarantee that your score will go up with a rescore.

Message Edited by Tuscani on 06-08-2007 08:44 AM

Re: Needs Help Desperately!

Anonymous — Fri, 08 Jun 2007 16:21:09 GMT

I have letters from 3 or 4 collection companies that were faxed to me well they are copies of what they send to the Credit Bureaus that they are requesting deletions. I aslo paid off all of our credit cards they were in good standings but maxed do you think we will get a decend score?

thanks,

Debbie

Re: Needs Help Desperately!

Anonymous — Fri, 08 Jun 2007 16:32:40 GMT

@Anonymous wrote:
I have letters from 3 or 4 collection companies that were faxed to me well they are copies of what they send to the Credit Bureaus that they are requesting deletions. I also paid off all of our credit cards they were in good standings but maxed do you think we will get a descent score?
thanks,
Debbie

Is there a rush to get this done?

Re: Needs Help Desperately!

Anonymous — Fri, 08 Jun 2007 17:24:26 GMT

There is a major Rush we are set to close on our house on the 16th of July and I would like to get a better rate. The Lender said he would do another pull just before closing and I want these things taken care of so my scores hopefully will go up to atleast the mid to upper 600's I am not sure if I will get that kind of increase or not can someone tell me about what I can expect for the work that I have done.

Thanks,

Debbie

Re: Needs Help Desperately!

Anonymous — Fri, 08 Jun 2007 18:58:59 GMT

@Anonymous wrote:
There is a major Rush we are set to close on our house on the 16th of July and I would like to get a better rate. The Lender said he would do another pull just before closing and I want these things taken care of so my scores hopefully will go up to atleast the mid to upper 600's I am not sure if I will get that kind of increase or not can someone tell me about what I can expect for the work that I have done.
Thanks,
Debbie

I do not know anything about rapid scoring. BUT
Look at all of you previous "post dates" on you CR's.
Add 10 days to these dates. Will the date be too late?

I am guessing you want these all updated by the first week of July,
You may have enough time to let them run the course of time.

Re: Needs Help Desperately!

Anonymous — Fri, 08 Jun 2007 22:05:04 GMT

sweetbutincontrol wrote:
I'm planning to refinance my house and at the same time get an equity out of the house. At this moment my score is 664. I'm trying to wait like a couple of weeks to see if there are any more changes in my credit score. The last my 2 months I paid off 2 of my credit cards with a balance of $164, and $150. Right now its still not showing in my credit report. Is there a way to request for the Credit Card company to post the recent payment. Is it worth waiting to wait 2 weeks to see if there will be any changes?

Thank You.

How soon are you looking to refi?

What are you using to monitor your CRs?

Re: Needs Help Desperately!

Anonymous — Sat, 09 Jun 2007 20:26:41 GMT

I need to refi as soon as I can, but they said if I'll let my score reach a certain score, then I would get a lot better rates. I got it from equifax through this website.

Re: Needs Help Desperately!

Anonymous — Sat, 09 Jun 2007 22:47:59 GMT

sweetbutincontrol wrote:

I need to refi as soon as I can, but they said if I'll let my score reach a certain score, then I would get a lot better rates. I got it from equifax through this website.

Do you get to see all 3 CRAs from the Equifax website? I ask because the CRAs will not always all report at the same time. In fact, you can bet on it. Watch all 3 for the new balances to report, then recheck your scores.