Whoa! Holy Low Scores!

Anonymous — Tue, 12 Jul 2011 02:18:11 GMT

So, my lender pulled middle score was 579 on June 3rd and since then, I've done nothing but pay collections off. I don't have any CC or other debt besides student loans that are in repayment.

I just signed up for the ScoreWatch and TU Quarterly thingy...super low scores reporting on both. One was 518 and the other was 514. This is so depressing!

Re: Whoa! Holy Low Scores!

trumpet-205 — Tue, 12 Jul 2011 15:18:01 GMT

@Anonymous wrote:
So, my lender pulled middle score was 579 on June 3rd and since then, I've done nothing but pay collections off. I don't have any CC or other debt besides student loans that are in repayment.

I just signed up for the ScoreWatch and TU Quarterly thingy...super low scores reporting on both. One was 518 and the other was 514. This is so depressing!

That alone explains it.

First paid collection does NOT improve your credit score. You can send GW letters to collection agencies and ask them to delete collections. They are not obligaged to do this, but some will. Else you'll have to wait for ~7 years for collections to fall off your credit reports.

Second you need a mix of credit history (different types of credit). Having student loan alone is not a mix of credit history. Go to your local credit unions and ask to see if they can offer secured credit card to you. You can also go to Capital One and apply for their secured credit card. At this point with your score you can only get secured credit cards. I doubt lenders will offer unsecured version to you.

Re: Whoa! Holy Low Scores!

Anonymous — Tue, 12 Jul 2011 14:46:19 GMT

Agree with trumpet. Gotta have credit to get credit.

topic Re: Whoa! Holy Low Scores! in Mortgage Loans

Whoa! Holy Low Scores!

Re: Whoa! Holy Low Scores!

Re: Whoa! Holy Low Scores!