topic Re: Please help in Rebuilding Your Credit

Please help

xflaw — Sat, 03 Sep 2022 17:41:15 GMT

I wanna hit 700 this month i make roughly $700 850 a week what can i do to improve my credit
Credit Cards
Td Bank $0
Fst Premier $0 1 late payment
Capital One $0 Capital One $85 5 late payments from 2021

Charge Offs
Finwise $1130
Finwise $2004
Finwise $795

Collections
MCM $876
MCM $1835 settled today for 60% with deletion coming this month
MCM $1057

want to try to settle the other two for 60% aswell this month ould anybody guess what my score would be after they all remove ? need anything else just ask me

forgot to add my6 credit seasme says my score are the following
TU 580
Exp 674
Equifax 674

Re: Please help

Jnbmom — Sat, 03 Sep 2022 17:48:46 GMT

You néed to pull your actual FICO scores, you can't go by credit sesame, credit karma etc. honestly with all those negatives you are not going to be at 700.

Re: Please help

xflaw — Sat, 03 Sep 2022 18:17:21 GMT

how could i remove charge offs and late payments i have lexington law they sent interventions and stuff to capitol one

Re: Please help

blindambition — Sat, 03 Sep 2022 18:19:56 GMT

As stated above, you need actual FICO scores. It may take 45 days for the paid collections to be updated and removed. A 700 is extremely unlikely with those multiple lates from 2021, way to recent.

Re: Please help

Jnbmom — Sat, 03 Sep 2022 18:27:53 GMT

@xflaw wrote:
how could i remove charge offs and late payments i have lexington law they sent interventions and stuff to capitol one

Lexington law firm basically takes your money and frivolous disputes your accounts. You really can try on your own to work on your credit. You are not going to be able to remove legitimate charge offs without arranging to pay/settle and possibly pay for deletion . If I had to guess your FICO scores are probably in the 580 TU score range you mentioned .

Until you work on ALL your negatives 700 is not going to be possible I am afraid .

Re: Please help

blindambition — Sat, 03 Sep 2022 18:47:11 GMT

COs will remain on reports for 7 years from DOFD. A lender will not remove those. You may write GW letters for the lates. Some lenders will do GW, but most won't consider on lates less than 24 months... Unless your reasoning has an extremely valid reason, that's a high bar for majority of lenders.

ETA: Paying or settling a CO will keep lender from updating monthly. Once paid, there's a final update to 0. That means you won't consistently be hit with what looks like a fresh derogatory on scoring model every month.

Re: Please help

FireMedic1 — Sat, 03 Sep 2022 19:00:57 GMT

Welcome to the forums @xflaw

You can PFD all of the Midland CA accounts. Maybe gain a few points. But a CO ranks under a BK. Until the last CO falls off 7yrs after the DoFD. Thats when you'll see the biggest gains. 700 is a ways off for now. Clean up the past first. The rest will fall into place.

Re: Please help

xflaw — Sat, 03 Sep 2022 19:27:05 GMT

Experian says my score is 607

Re: Please help

Jnbmom — Sat, 03 Sep 2022 19:55:35 GMT

@xflaw wrote:
Experian says my score is 607

Which is in line with your delinquencies, I am a little surprised it's above 600 though with your list on accounts .

you have a lot of work to do and it is going to take some time . You have to hit one account at a time and keeping working out it . Not trying to be a downer but a 700 score is going to very difficult until you take care of those accounts .

Re: Please help

mfinsmi1 — Sat, 03 Sep 2022 20:11:51 GMT

@xflaw If you work on your credit starting NOW i bet youll see 700s in a year or less ... but dont expect to see that kind of score next month or youll be extremely dissapointed

Re: Please help

xflaw — Sat, 03 Sep 2022 20:45:00 GMT

so what move would be the best course pay my 2 collections first and then charge offs? also is there a way to remove capital one late payments and first premier ? once those are off im home free ? I could pay all 5 accounts off in about 2-3 months.

Re: Please help

FireMedic1 — Sat, 03 Sep 2022 21:37:23 GMT

CO's count against your util %'s. CO is like a maxed out account. Make deals to get the CO's settled or PIF and they have to place a $0 balance on the accounts. Thats will help the most. Check the site in the search above for "Cap One GW Success". Many examples. But Cap1 and FP really dont remove lates. Going to take some time. Cant just wipe the slate clean. Even if all are paid/settled. The CO's will sting until all of them are toast.

Re: Please help

xflaw — Sat, 03 Sep 2022 22:24:30 GMT

So with that being said let's say in these 2 months I pfd the midlands and pay off the co what's the next goal ? I forgot to include a few days ago I got a kikoff credit builder account and a credit strong I think it was they report like 2500 limit.

Re: Please help

FireMedic1 — Sat, 03 Sep 2022 22:52:29 GMT

If all baddies are settled/PIF. You'll see a small gain. But getting those 2 more accounts added to your file wont help much. May take away what could have been gained as a whole. More credit doesnt cover up past baddies. Put all your time in getting out of debt for now. Your wanting a quick fix. I can tell. I'm sorry it doesnt work that way. No more apps or new accounts from here on out. Get the past in the past. Time will do the rest. No way around it. Nor sugar coat. Good Luck!!!!!!!!!!!!!!!!

Re: Please help

xflaw — Sat, 03 Sep 2022 23:21:56 GMT

thanks im still learning im only 24 and never had any credit lessons just what ive read from my own searchs

@FireMedic1 wrote:
If all baddies are settled/PIF. You'll see a small gain. But getting those 2 more accounts added to your file wont help much. May take away what could have been gained as a whole. More credit doesnt cover up past baddies. Put all your time in getting out of debt for now. Your wanting a quick fix. I can tell. I'm sorry it doesnt work that way. No more apps or new accounts from here on out. Get the past in the past. Time will do the rest. No way around it. Nor sugar coat. Good Luck!!!!!!!!!!!!!!!!

Re: Please help

FireMedic1 — Sat, 03 Sep 2022 23:33:27 GMT

We'll help you all the way thru it. Thats why were here. We had our speed bumps. I didnt even have a credit card out of BK. My lawyer talked me into it. So 6 yrs later I stuck around to help others since. We dont judge here. Please take it now as a learning experience. Step by step we'll get you there. We've been there done that. Keep us updated on whats up. Many here to help. Theres no dumb question. Agree?