topic Paid collections low scores help me please!!!!!! in Rebuilding Your Credit

Paid collections low scores help me please!!!!!!

scintilla02 — Sat, 06 Feb 2021 15:01:49 GMT

My score are all in the high 589,596,569. How can I raise I've had 17 collections removed in the past 2 years with only one left. I have 5 credit cards totally 5,000 credit. How can I raise my score 100 points in the next six months?

Re: Paid collections low scores help me please!!!!!!

thornback — Sat, 06 Feb 2021 15:09:06 GMT

Is the one collection your only derogatory? Any late payments or charge-offs? How's your utilization? Any loans? What is the age of your accounts (youngest, oldest, average)? Many inquiries?

High 500 scores seem a bit low for a profile with 5 ccs and 1 collection, which is partly why I ask the above questions. These are FICO scores, correct?

Re: Paid collections low scores help me please!!!!!!

chiefone4u — Sat, 06 Feb 2021 17:08:35 GMT

@scintilla02 wrote:
My score are all in the high 589,596,569. How can I raise I've had 17 collections removed in the past 2 years with only one left. I have 5 credit cards totally 5,000 credit. How can I raise my score 100 points in the next six months?

The information you've provided, assuming actual FICO scores; leads me to believe you have high utilization and late payments reporting.

I think you'll get better results to your question if you provide more information about your credit reports.

Things like Charge offs, utilization, age of accounts, other negative information updating monthly all hold your scores down.

Re: Paid collections low scores help me please!!!!!!

Anonymous — Sun, 07 Feb 2021 19:39:02 GMT

As others have stated we need more info but here are some general guidelines.

1) It doesn't really matter if you had 17 or even 100 collections removed. All it takes is 1 collection that continues to update monthly to destory your credit and keep it tanked. If you have any ACTIVELY reporting collections that has to be your first focus

2) If you have been accumulating late payments you need to get current on your accounts and not make more late payments. Consistent late payments every month will tank your score

3) As other mentioned your utilization is a huge factor and is easiest way to get an immediate boost. Charge whatever you want to your card each month but either pay it off in full / leave little balance or worst case scenario keep your balance reporting for EACH card uner 30%. If you have any maxed out cards your score will tank.

Without more specific info we cannot provide tailored advice. By lowering utilization you'll see fastest improvement. By not having any new late payments 30/60/90 you'll see improvement and by removing any ACTIVELY reporting collections you'll see most improvement.