cancel
Showing results for 
Search instead for 
Did you mean: 

I Need a Score Boost within the next 45 days PLEASE HELP!!!

tag
redE2move
Frequent Contributor

I Need a Score Boost within the next 45 days PLEASE HELP!!!

Can someone please give me a CREATIVE strategy on boosting my score by Jan 1st.  I am so desparate because a family member wants to sell their home and move in April.  I would like a chance at buying this home but I just took a dive on scores and they are currently
 
TU 574   EQ540  EX 545Smiley Sad
 
 
Message 1 of 16
15 REPLIES 15
Anonymous
Not applicable

Re: I Need a Score Boost within the next 45 days PLEASE HELP!!!

First we need to know what's holding your scores down.
Message 2 of 16
redE2move
Frequent Contributor

Re: I Need a Score Boost within the next 45 days PLEASE HELP!!!

2 Large medical bills showed up on CR then made the mistake of using CC to help pay med bills down.  Now I have high utlz.  BK in 2005 discharged feb 06 began to rebuild and scores going to 600 but med bills came just 4 months ago from bone intrusion in back.  I thought maybe I can do the PFD letters but before that wanted to get the sound advice of everyone here before making a move.  I twitch because I have a deadline to meet and I don't a want to miss out on a good opportunity if there is a way out.
Message 3 of 16
Anonymous
Not applicable

Re: I Need a Score Boost within the next 45 days PLEASE HELP!!!



redE2move wrote:
2 Large medical bills showed up on CR then made the mistake of using CC to help pay med bills down.  Now I have high utlz.  BK in 2005 discharged feb 06 began to rebuild and scores going to 600 but med bills came just 4 months ago from bone intrusion in back.  I thought maybe I can do the PFD letters but before that wanted to get the sound advice of everyone here before making a move.  I twitch because I have a deadline to meet and I don't a want to miss out on a good opportunity if there is a way out.


The quickest way to help your score is to pay down as much of the CC balance as you can afford.  If your util is high, that's probably having a big impact.
 
You can try PFD, but if your time frame is very short then I don't know that it'd be taken care of in time.
Message 4 of 16
redE2move
Frequent Contributor

Re: I Need a Score Boost within the next 45 days PLEASE HELP!!!

Okay I will try to pay down as much as possible but i gotta tell you with the housing market like this, the struggle is awful!  It hasn't affect my home but my business. 
Message 5 of 16
Anonymous
Not applicable

Re: I Need a Score Boost within the next 45 days PLEASE HELP!!!

 I am totally being serious when I write this- is there any way that you can either pick up a second job at McDonalds- or even better- a higher class restaurant where you would make very good tips for each table you waited on? Is there a country club nearby where you could sell beer and wine and there is a tip jar in front of you? I did beer and wine at the local Officer's Club (daddy is a ret. Ltc.) and would make easily 100-120 in about 6-7 hours throughout the holiday season doing just beer and wine.
 
Reason I say this is that it is peak holiday season and restaurants- even better are high end restaurants and country clubs or private clubs where tipping is generous- and EVERY NIGHT a party is booked clear through till New Years Eve. This would enable you to make fast cash- and you could go deposit it every evening through the atm or each morning and then do online payments every day.
 
Or- is there a local call center or a higher end department store? I know in some areas call centers start out at 10. an hour or up to 12 an hour- ours is 8.50 getting ready to move up to 9.00 an hour but we are in what is considered a rural area- KY- and the cost of living is low- therefore starting wage is low for the area.
 
Bottom line- if this really IS a good deal too good to pass up- put the pedal to the metal and work your bootie off during the Christmas season- it is a great time to make quick cash. But you have to move fast- as most places are already hiring for the Christmas season.
 
I don't know what your earning power is right now but if there were a way you could take a large chunk out of your util, pay everyday online- that would give you momentum- and be processing the PFD's too.
Message 6 of 16
Anonymous
Not applicable

Re: I Need a Score Boost within the next 45 days PLEASE HELP!!!

rede2, I am sorry but even if you pay everything in full it takes about 30-60 days for a score jump. I paid all my cc's in full in aug and finally in october my scores jumped....a little... If you really want this house find a real good underwriter and have a big downpayment, even with those scores you should be able to get a mortgage, yeah it might be a high interest rate but you could always refi down the road when your scores rise. I say go get that house now no matter what your fico is!
Message 7 of 16
redE2move
Frequent Contributor

Re: I Need a Score Boost within the next 45 days PLEASE HELP!!!

OhhhhhhMG .....Here is a crucial part of my dilema that I left out.  My 15yr old just passed his interview for the People to People Ambassador Program and is going to Europe for 20 days this June.  $6,000 trip I paid the down payment before all this house issue came abt.  Now I have to make monthly payments on that at $500.  Is this all just too much?  I am trying my best to do as much as possible for the fundraising for him.  I paid to have a New Year's Eve cabaret so that I could afford to pay for his trip.  Now this house comes up.  I can't lose this deal because I was with my relative when she got the house appraised at $345,000 even in this market and she is willing to sell me the house for $280,000 we are talking about 3bdr, 2bath, basement, family room, livingrm, dining & 2 car garage in the school district that my son goes to school in (which is why she wants to sell me the house).  Currently I have to drive him to school every day.  I need a serious miracle to get through this.  I figured if I paid the CCs down in December and even if it takes 60 days to show up I can't get the house until April.  I honestly feel I can do this but my health is soooooo CRAPPY!  Some days I can barely move around because of the back injury.  I am determined to make this all happen with hard work and faith!  I just need some kind of support and figured whatever advice I can get, tricks, strategies or whatever would be great.  I originally thought if I got a CLI it would help my score.  No one has suggested it so, I guess I will leave that idea out.
Message 8 of 16
Anonymous
Not applicable

Re: I Need a Score Boost within the next 45 days PLEASE HELP!!!

A CLI is only a temporary solution to what really needs to happen- the paydown of utils on the open tradelines. Additionally, sometimes when trying to qualify for a mortgage it is the one time (notice I said one time) that lenders do not want to see a lot of open credit as they are afraid you will go out the day after the check funds clear and charge up all your cards. There are even lenders out there that will make you close TL's/CC's in order to qualify for a loan. It really is silly, cuz if your scores are good enough you can just go out a couple weeks later and re-app- but again, IMHO a CLI is a temp solution.
 
Are you eligible to get a VA/ or FHA loan?
Message 9 of 16
Anonymous
Not applicable

Re: I Need a Score Boost within the next 45 days PLEASE HELP!!!



netpanther wrote:
A CLI is only a temporary solution to what really needs to happen- the paydown of utils on the open tradelines. Additionally, sometimes when trying to qualify for a mortgage it is the one time (notice I said one time) that lenders do not want to see a lot of open credit as they are afraid you will go out the day after the check funds clear and charge up all your cards. There are even lenders out there that will make you close TL's/CC's in order to qualify for a loan. It really is silly, cuz if your scores are good enough you can just go out a couple weeks later and re-app- but again, IMHO a CLI is a temp solution.
 
Are you eligible to get a VA/ or FHA loan?


Wait, I am not sure, I think the highest you can go w/ FHA is 250K or even 200K- would have to look that up.

Message 10 of 16
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.