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Credit Score Increase and Mortgage

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Credit Score Increase and Mortgage

My current credit scores are TU 589, Equifax 522 and Exerpian 603. In Auguest a lender  pulled my scores and they were TN 577, Experian 544 and Equifax 523.  The lender indicated that my middle was 544.  As of this month I have the followig on my CR:  car loan $532, Dept of Edu $26, 827 (payments deferred until 2020), LVNV Funding $654 (making monthly payments),  NCC Services $3431 (making monthly payments), United Consumers $144 (paid),  Transworld Sys Inc/33 $183 (paid), Transworld Sys Inc/33 $61 (paid), Transworld Sys Inc/33 $61 (paid), Meridian Financial Mgmt $123 (paid), Meridian Financial Mgmt $676 (making payments) Captial Bank (Carson Smithfield LLC) $153 (paid).  There are three outstanding collections I am working to pay off.  I've sent letters to United Consumers, Captial Bank and Meridian asking for "Goodwill Adjustments".  I also obtain a Captial One card in Aug to establish a creditable payment history in order to obtain a mortgage.

Having stated all of the above, what suggestions or guidance would anyone have to increase my scores?

Thanks so much in advance for all assistance

Message 1 of 5
4 REPLIES 4
Super Contributor

Re: Credit Score Increase and Mortgage

Removal of those major baddies needs to be Priority Number 1.

 

It sounds like you're on the right track, having sent a few letters for GW adjustments.  I'd suggest sending a ton more letters, though.  To read about this, known as the Saturation Technique, check out the thread linked below.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/The-Saturation-Technique-Best-GW-adjustment-o...

Message 2 of 5
Member

Re: Credit Score Increase and Mortgage

Great plan!!!  Thanks so much for this advice.  My first real round will be going out on Monday.

 

Thanks again!

Message 3 of 5
Super Contributor

Re: Credit Score Increase and Mortgage


@diholwy wrote:

My current credit scores are TU 589, Equifax 522 and Exerpian 603. In Auguest a lender  pulled my scores and they were TN 577, Experian 544 and Equifax 523.  The lender indicated that my middle was 544.  As of this month I have the followig on my CR:  car loan $532, Dept of Edu $26, 827 (payments deferred until 2020), LVNV Funding $654 (making monthly payments),  NCC Services $3431 (making monthly payments), United Consumers $144 (paid),  Transworld Sys Inc/33 $183 (paid), Transworld Sys Inc/33 $61 (paid), Transworld Sys Inc/33 $61 (paid), Meridian Financial Mgmt $123 (paid), Meridian Financial Mgmt $676 (making payments) Captial Bank (Carson Smithfield LLC) $153 (paid).  There are three outstanding collections I am working to pay off.  I've sent letters to United Consumers, Captial Bank and Meridian asking for "Goodwill Adjustments".  I also obtain a Captial One card in Aug to establish a creditable payment history in order to obtain a mortgage.

Having stated all of the above, what suggestions or guidance would anyone have to increase my scores?

Thanks so much in advance for all assistance


I think you're doing the things you're supposed to be doing. Keep on going the way you're going and things will pick up.


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 4 of 5
Member

Re: Credit Score Increase and Mortgage

Thanks so much!

Message 5 of 5
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