topic Re: SCORE DROP, PLEASE HELP in Rebuilding Your Credit

SCORE DROP, PLEASE HELP

Anonymous — Thu, 26 Mar 2009 21:00:05 GMT

I got a credit card deleted and some paid collection changes. check my score today, it droped. I don't know why or what to do. Should I still write a GW to CA. Will my score drop more. Please help.

2/09 TU 642 EQ 587 EX 557

3/09 TU 633 EQ 615 EX 538

Re: SCORE DROP, PLEASE HELP

Anonymous — Thu, 26 Mar 2009 21:01:44 GMT

If the CC account was opened a long time ago, you lost the age with it.

If those were your only collections, you might have been rebucketed.

Do you have other CC accounts? When was this one opened?

Re: SCORE DROP, PLEASE HELP

Anonymous — Thu, 26 Mar 2009 21:32:34 GMT

Sorry to ask, but I am trying to learn..... what is rebucketed???

Re: SCORE DROP, PLEASE HELP

Anonymous — Thu, 26 Mar 2009 21:36:30 GMT

joeh05 wrote:
Sorry to ask, but I am trying to learn..... what is rebucketed???

You'll get better and more complete answers by searching the forums for terms like "rebucketed", "rebucketing", or "score buckets".

Re: SCORE DROP, PLEASE HELP

Anonymous — Thu, 26 Mar 2009 21:41:53 GMT

My unpaid collections that I will do pfd are

CONSERVE $286 10/08

PROGRESSIVE $352 11/11/03

HOLLYWOOD VIDEO $258 open 9/15/05

paid collection will do GW are

DEBT RECOVERY OPENED 7/2005

MIDLAND 4/06

RENTDEBT 5/06

CAP ONE 4/03

NCO FIN22 12/06

I have no new cc or i have no cc. should i open one, will that help.

I have student loan no late payments.

thank you for all your help

Re: SCORE DROP, PLEASE HELP

Anonymous — Thu, 26 Mar 2009 21:50:14 GMT

If the CC you got deleted was your only CC reporting, you lost age plus you lost that mix of credit.

Having the collections removed likely didn't help much at all because you have other collections remaining.

I would not try opening a new account until you get done PFD'ing and GW'ing.

Re: SCORE DROP, PLEASE HELP

moondog7324 — Thu, 26 Mar 2009 23:32:45 GMT

Manage your debt, not your score. you are on the right path........ That is why I reccommend checking your score no sooner than every 6 months. I would not open new credit- but i would be putting a little savings away each month in a CU in order to get a secured card (after you cleaned up your report to the best of your ability) See this post- adjust it for your needs.

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&message.id=144356#M144356

Sidewinder- can you please school me in posting links to threads?

Message Edited by moondog7324 on 03-26-2009 04:31 PM

Message Edited by moondog7324 on 03-26-2009 04:32 PM