Credit Issues

[Anonymous]

Hi - I am newbie and do I need advice.  I am trying so hard to fix my credit, however, I have run into some road blocks.  My score was 535 then 510 now 517.  I disbuted to accounts on my Tranunion report last month and the report came in the mail today (First Premier Bank and Midland Credit Management).  I settled both of this accounts by paying 70% of the balances (all under $300).  Now, my past Sprint bill was turned over to collections.  I send a settlement letter via Certified Mail and I have heard nothing from them going on 3 weeks. What do I do.  I was under the impression my score would go up not down when I paid off my collection account.

TIA

[Anonymous]

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sweetclh wrote:

Hi - I am newbie and do I need advice.  I am trying so hard to fix my credit, however, I have run into some road blocks.  My score was 535 then 510 now 517.  I disbuted to accounts on my Tranunion report last month and the report came in the mail today (First Premier Bank and Midland Credit Management).  I settled both of this accounts by paying 70% of the balances (all under $300).  Now, my past Sprint bill was turned over to collections.  I send a settlement letter via Certified Mail and I have heard nothing from them going on 3 weeks. What do I do.  I was under the impression my score would go up not down when I paid off my collection account.

TIA

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A paid off colelction will not improve your score it may damage it in the short term but now that it is no longer active you should see improvement

[Anonymous]

Thanks for the info.  I am trying so hard to get my credit up to part to buy a home.  Why would the bank Mortage lender tell me to pay this collections off and now my score is lower then before.

[Anonymous]

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sweetclh wrote:

Thanks for the info.  I am trying so hard to get my credit up to part to buy a home.  Why would the bank Mortage lender tell me to pay this collections off and now my score is lower then before.

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The reason the bank advises you to do so before getting a mortgage is that any debt can be filed for judgement in court.  if that happens any property you own can be placed under a lien to pay off said debt.  Some companies are more lenient than others and willl igmore debtbelow a certain dollar value.  Others want NO outstanding collections or further will even demand you close credit cards if they feel you have access to too much avail credit.  This is usually only done to first time borrowers.

Sorry to hear about the score decrease but be patient and keep up your current good payment practices and you will see your scores increase over time.

[Anonymous]

can anyone tell me the easiest credit cards to apply for...i have household and orchard...capitol one.leading score in the high sixes......theres a bankruptcy and released tax liens...thx for any help..

[Anonymous]

Try this:  http://www.financeglobe.com/ScoreMatch/  

You put in your credit score and it will help match you to cards you may qualify for.

[Tuscani]

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takeoneofff wrote:

can anyone tell me the easiest credit cards to apply for...i have household and orchard...capitol one.leading score in the high sixes......theres a bankruptcy and released tax liens...thx for any help..

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Which CR is in the high sixes?

[Anonymous]

eqaulfax

[Tuscani]

Any derogs? How is your utilization?