topic Re: PLEASE LEND HELP FROM EVERYONE THAT MAY KNOW! REPLY PLEASE in Rebuilding Your Credit

PLEASE LEND HELP FROM EVERYONE THAT MAY KNOW! REPLY PLEASE

Anonymous — Sat, 31 Jan 2009 11:51:53 GMT

I presently have TU 608, EQ 614 and EX 629. I show about 32 thousand in revolving debt. On friday, I went and applied $25,000 to the $32,000 of revolving credit. All simulators show this is my biggest issue for the low score. How much of a jump will I get from paying the money on the revolving accounts? Everyone give me an idea that may know please! I applied the money to the 3 biggest ones paying them to the 1 to 9% range. The 7000 k left on other accounts are close to their limits but I am working on them.

Next, when you aplly for mortgages or loans, who has the TRUE CREDIT SCORE? THE MOST CORRECT? THE MOST DEPENDABLE FOR BANKS TO USE?

THANKS

Re: PLEASE LEND HELP FROM EVERYONE THAT MAY KNOW! REPLY PLEASE

Anonymous — Sat, 31 Jan 2009 13:57:44 GMT

It's impossible for anyone to give you a realistic guesstimate without having insight into your full credit profile. But, paying off that amount of revolving debt should give you a significant boost.

But, if you want your real FICO scores, you need to purchases them from this website. But, wait until your creditors have updated the bureaus (if you just paid yesterday, you may need to wait for another full month for everything to report) to see what kind of boost you get. At any rate, come back and tell us!

Re: PLEASE LEND HELP FROM EVERYONE THAT MAY KNOW! REPLY PLEASE

Anonymous — Sat, 31 Jan 2009 15:43:14 GMT

I have 5 one time 30 day lates in 4004 or earlier. Simulator states my biggest problem for a low score is revolving debt. Will it boost 50 to 75 points after the 25 k hits my scores. So FICO is where banks, mortagage scores are pulled from?

Re: PLEASE LEND HELP FROM EVERYONE THAT MAY KNOW! REPLY PLEASE

Anonymous — Sat, 31 Jan 2009 17:23:11 GMT

Late pays hurt more for the first 2 years then start to age. Send GW letters to see if the OC will delete them.

As stated no one can say what your score increase will be, but you should see a good amount.

FICO scores are used but then D/R and comes into play.