topic Re: Raise score any faster? in Rebuilding Your Credit

Raise score any faster?

pgtackle2003 — Mon, 15 Oct 2018 19:32:37 GMT

Hello all, I am posting my current credit information in here in hopes of getting some advice if there is a way I can raise my scores any faster than just a 'wait it out' kind of game. I will list my baddie information as well as positive trade lines.

Baddies

Charge off-Merick Bank- Charged off in April 2015-Has been settled for less than full balance

Charge off-First Premier Bank-Charged off in Sept 2015-Paid, settled in full

US Dept of EDU (Student Loan)-was defaulted and rehabbed- still showing late payments-Shows 'unknown' status 0$ balance

Capital One Auto Loan-Closed/Paid but had 30 and 60 day late payments. Last late was in June of 2017

Current Trade Lines

Discover IT-Opened Novemeber 2017-CL 750$ never late
Capital One QS-Opened January 2018-CL 500$ never late
Capital One Spark Business-Opened September 2018-CL 2000$ never late

US Dept EDU-Opened August of 2010 (Rehabbed Loan) never late (only 4 months of payment since rehab)

Capital One Auto loan-Opened August 2018 never late

Overall last late payment was in June 2017. Current util is 15%

Please let me know if I have missed any relevant information that would be helpful for suggestions/improvements. Thank you

Re: Raise score any faster?

FireMedic1 — Mon, 15 Oct 2018 21:02:20 GMT

@pgtackle2003 wrote:
Hello all, I am posting my current credit information in here in hopes of getting some advice if there is a way I can raise my scores any faster than just a 'wait it out' kind of game. I will list my baddie information as well as positive trade lines.

Baddies
Charge off-Merick Bank- Charged off in April 2015-Has been settled for less than full balance
Charge off-First Premier Bank-Charged off in Sept 2015-Paid, settled in full
US Dept of EDU (Student Loan)-was defaulted and rehabbed- still showing late payments-Shows 'unknown' status 0$ balance
Capital One Auto Loan-Closed/Paid but had 30 and 60 day late payments. Last late was in June of 2017

Current Trade Lines
Discover IT-Opened Novemeber 2017-CL 750$ never late
Capital One QS-Opened January 2018-CL 500$ never late
Capital One Spark Business-Opened September 2018-CL 2000$ never late
US Dept EDU-Opened August of 2010 (Rehabbed Loan) never late (only 4 months of payment since rehab)
Capital One Auto loan-Opened August 2018 never late

Overall last late payment was in June 2017. Current util is 15%

Please let me know if I have missed any relevant information that would be helpful for suggestions/improvements. Thank you

The only thing at this time to get a "fast" increase is to get your util down to 8.99% or less. Or AZEO. The lates are going to stay with you until they age off in 7 years. In time they will become less of a negative. From a chart thats floating around here it appears at 48 months it will bottom out at until the 7 years is up. You have the 3 cards mininum and a installment loan which is best for FICO scoring.

The charge off you could try the Goodwill Saturation Technique here: Goodwill Technique

I'm not a student loan expert. They were a whole lot different back in the 80's. Thats about it really. Time and pay on time is your best friend now. Wish I had better news. Nothing is fast with rebuilding. Took 3 yrs after a BK to get where I'm at now. But it seems like yesterday when you look back.

Re: Raise score any faster?

pgtackle2003 — Mon, 15 Oct 2018 21:07:28 GMT

Thank you for the time to respond, I do appreciate it. I have sent goodwill deletion letters to both the charge off accounts (just sent today). I was successful in removing another charge off account just last week (through goodwill) however, this actually caused my score to drop by 5 points.

Re: Raise score any faster?

FireMedic1 — Mon, 15 Oct 2018 21:15:08 GMT

Cool. Then you know what it will take to "clean up" your report. The 4 points could have been from almost anything. 4 points is peanuts but huge to rebuilders. Been there. Yes get that util down. Now that will bump the scores up.

Re: Raise score any faster?

pgtackle2003 — Mon, 15 Oct 2018 21:22:11 GMT

Thanks again. I have already paid down the balances to about 9% Util on one account. Will see what happens when reports update next month.

Re: Raise score any faster?

FireMedic1 — Mon, 15 Oct 2018 21:29:28 GMT

See. Your doing things right afterall. Remember All Zero except 1 (AZEO) Let 1 account report a small balance. PIF after statement cuts and the others zippo statement cuts. Good Luck!

Re: Raise score any faster?

RobertEG — Mon, 15 Oct 2018 23:44:28 GMT

For the accounts reporting derogatory payment history that have now been paid, you can send good-will requests to the creditors requesting either deletion of the derogs reported under the paid account, or deletion of the entire account.

Re: Raise score any faster?

pgtackle2003 — Mon, 15 Oct 2018 23:56:23 GMT

Thanks for the reply. I guess that is a good question. One the accounts is closed/Paid.

Capital One Auto Loan

19 times-30 day late

2 times-60 day late

Would it be better to leave this account? Or try a GW deletion letter?

Re: Raise score any faster?

Bees18 — Tue, 16 Oct 2018 02:21:38 GMT

Send off goodwill letters for the lates, call capital one I've heard of people having success getting lates off.

i would also try to Google or find info for higher ups or cfo's ceo's where you have the charge offs...send letters, email ask if they would remove them since they are paid in full.