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Looking for professional (paid) to help improve my scores

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Looking for professional (paid) to help improve my scores

Not sure if this is the place to find what I'm looking for (or even allowed?), but I'll try anyway. 

 

I'm looking for someone that knows how to navigate the credit scoring world and can help me improve mine. I'm willing to pay a fee for this. I've heard of so many bs companies so I figured I'd come to a forum where individuals that have experience cleaning up their own report can help me do the same. 

 

Current credit profile: 

Recently paid off car

Never late 0 balance credit card (2+ years)

And...

8 or so closed CC with balance (2014-2015ish)

Co-signer on defaulted business loan (24k) (2014ish)

Personal guarantee on a business lease (defaulted) (2.7k) (2014ish)

 

I'd like to utilize all resources available (disputes, opening new lines, secured, or whatever it takes). 

 

My end goal is to have creditworthy of getting good rates on mortgages for real estate projects (utilizing private money at the moment).

 

Thanks!

 

Message 1 of 11
10 REPLIES 10
Valued Contributor

Re: Looking for professional (paid) to help improve my scores

So called credit repair companies are mainly vultures getting money for doing only what the debtor can do for themselves. Visit the credit repair sections for good advice about rebuilding your credit. There are no real shortcuts, and those promising such are trying to profit from others mistakes. Goodwill letters, PFD, etc. can sometimes work, but you do not need a third party to do those either. Credit repair is something that must be done by yourself and the passage of time.

TU fico08=823 08/12/19
EX fico08=813 08/10/19
EQ fico08=826 08/04/19
EX fico09=818 08/03/19
EQ fico bankcard08=849 07/23/19
Message 2 of 11
Established Contributor

Re: Looking for professional (paid) to help improve my scores


@gotcredit wrote:

Not sure if this is the place to find what I'm looking for (or even allowed?), but I'll try anyway. 

 

I'm looking for someone that knows how to navigate the credit scoring world and can help me improve mine. I'm willing to pay a fee for this. I've heard of so many bs companies so I figured I'd come to a forum where individuals that have experience cleaning up their own report can help me do the same. 

 

Current credit profile: 

Recently paid off car

Never late 0 balance credit card (2+ years)

And...

8 or so closed CC with balance (2014-2015ish)

Co-signer on defaulted business loan (24k) (2014ish)

Personal guarantee on a business lease (defaulted) (2.7k) (2014ish)

 

I'd like to utilize all resources available (disputes, opening new lines, secured, or whatever it takes). 

 

My end goal is to have creditworthy of getting good rates on mortgages for real estate projects (utilizing private money at the moment).

 

Thanks!

 


Do not pay any repair credit. There is absolutely nothing you can not do that they do. They normally, take your money, dispute everything, or get a offer for a settlement. This is sometimes the not right approach at all. 

 

On your open zero balance credit card, let a small $10-15 balance report each month, say a recurring netflix, or a tank of gas. Then pay in full each statement. 

 

Are the 8 closed CC with balances big banks, Citi, Chase, Discover, AMEX, Cap 1? Are you making payments on these accounts? Or have they been charged off and or sent to collections? 

What is the statue of limitations in your state (this will tell you how long they stay on your reports, barring there are no or future judgments filed against you. 

 

Do you have financial resources to do any of the following:

Open secured CCs

Offer for pay for deletes if said charge offs, any medical, credit cards are in collections and date of first deliquency is more current, if close to end of statue of limitations, it may only be on your report couple of more years, possibly less. 

 

Welcome to the Forums and anxious to hear your response. 

Message 3 of 11
New Member

Re: Looking for professional (paid) to help improve my scores

Thanks for the thorough reply! Here are some anwers to your questions;

 

 

Are the 8 closed CC with balances big banks, Citi, Chase, Discover, AMEX, Cap 1? Are you making payments on these accounts? Or have they been charged off and or sent to collections? Cap One, Barclays, First Premier (eww), Discover, and a few small store cards. Looks like most were charged-off in 2016 and one in 2015. Also, the on-time chase card was opened in 2013.

 

 

 

 

What is the statue of limitations in your state (this will tell you how long they stay on your reports, barring there are no or future judgments filed against you. 7 years I think (TX)

 

Do you have financial resources to do any of the following:

Open secured CCs

Offer for pay for deletes if said charge offs, any medical, credit cards are in collections and date of first deliquency is more current, if close to end of statue of limitations, it may only be on your report couple of more years, possibly less. 

 

I can pay off some of the debt but not everything. The cards range from 700-$2700.

Would it be wise to open new cards? I'm confident that late payments won't be an issue now. In the past I had some business trouble that caused me to get behind, and I was overleveraged. 

Message 4 of 11
Established Contributor

Re: Looking for professional (paid) to help improve my scores

I think, but would like someone like Thomas Thumb, Credit Guy In Dixie, Brutual or a moderator to confirm if possible. 

 

I believe in Texas, your statue of limitations is 4 years on consumer debts ( if you have not made a payment at all in the past 48 months, which restarts the date). However, for it remaining on your credit files, will be for a full 7 years. So they can not sue you now, also long as you judgment was ever placed against you.

 

Have you pulled your free annual credit report that shows when all the accounts are due to age off? If not, due so.

You spoke of obtaining a mortgage, how soon? less than a year or 2-3 years down the road?

 

I think obtaining 2 minimum credit cards more will help you. Once these accounts age off, all you have is the Chase. 1 card. 

You optimal want a bank card, stay away from store/retail cards if at all possible. Keep the Chase in good standing. 

 

Once you burn a big bank, Discover, etc, it is hard to get back in their good graces. However, down the road a few years with a rebuild, Citi, Amex or other additional Chase cards are feasible. 

 

You may have to start with an Open Sky secured, think they are soft pulls, so no inquiry. They are starter cards, but one of the better than some of the other ones. If you have a good bank or especially a credit union relationship, that would be even better to obtain their card. 

 

You need a loan somewhere, sometime for the credit mix percent scoring. (30-35 pts). Here on the forums, there is a thread about Shared Secured Loan. The thread is for purposes of obtaining a small loan, but at a long term, 48-60 months. Yes, there are lenders you will see that will do it on those terms. You obtain it, however with a lender that will accept a large payment that catapults your due date way in the future (that is the KEY). Because you pay it down after opening it to less than <8.9% of what your borrowed. This is the threshold of utilization that gives you the biggest point gain. So you gain points for having an installment (bank, not finance company), plus the low utilization. Please use the "Search all content" at top of page, but to the left, drop down menu to all boards. You will see the Shared Secured thread (many pages) and learn there. 

 

The only other advice, and I would be 100% positive they would is try for a pay for delete at a reduced rate. They know you are past being able to collect if in fact Texas is 4 years for the 2014 chargeoffs. So they would take a settlement only if in return they verbal or preferably agree to delete the lines across all bureaus. You won't see the biggest jump with one or two, but this is the most damaging to mortgage scores than the other FICO scores. Once the last one is deleted or ages off, your scores will gain huge points! 

Message 5 of 11
Valued Contributor

Re: Looking for professional (paid) to help improve my scores

DollyLama gave you some great advice here.

 

You want 3 credit cards. They will help to balance the baddies on your reports and will be building history so that when the baddies do start falling off your reports, your scores will rise.

 

You need to get a Shared Secured Installment Loan from a credit union like Alliant or DCU (Digital Federal Credit Union). All credit unions and lenders have recently changed their policies on early payments that DollyLama mentioned. They really don't allow you to pay the balance down early. If you pay down early it will shorten the term. Just get a 4 or 5 year shared secured loan and setup monthly auto payments. This could add up to 20 points to your scores and build good installment loan history which has an effect on your scores, especially for mortgages and auto loans.

 

Anybody that you pay to fix your scores will be taking your money and won't really fix your credit. It is a scam. There is no magic bullet. You have to do it yourself, that's why this forum is so popular. There is a lot of good advice here.


Starting Score: EQ 653 6/21/12
Current Score: EQ 817 7/10/19 - EX 802 7/13/19 - TU 815 6/03/19
Message 6 of 11
Super Contributor

Re: Looking for professional (paid) to help improve my scores


@jamie123 wrote:

 

You need to get a Shared Secured Installment Loan from a credit union like Alliant or DCU (Digital Federal Credit Union). All credit unions and lenders have recently changed their policies on early payments that DollyLama mentioned. They really don't allow you to pay the balance down early. If you pay down early it will shorten the term.

 


The advice that Dolly and Jamie are giving is really good.  I suggest the OP continue to work with them!

 

My only slight tweak would be to Jamie's comment above.  I would not use the word ALL.  We know of some lenders that definitely permit you to may off most of a loan at month 2 and then keep it open for the full term (e.g. a full 60 months, etc.).  Navy Federal Credit Union is one such place.  Although Alliant no longer does SSLs, I am fairly confident that prepayment still works there too -- it's just that a person would need to have good enough credit to obtain an unsecured loan.

 

There are many ways to join Navy Fed -- you don't have to be in the military yourself.  If our OP has no open loans, he should definitely look into the possibility of joining that CU.

Message 7 of 11
Regular Contributor

Re: Looking for professional (paid) to help improve my scores

A good lesson to learn... Never pay off a vehicle as it can drop your score as much as 20 pts. I've done this a few times over the past 5 years and each time down goes my score. Never fails but... purchasing another car will counter balance the points adding most back. Or this has been my experience. Good luck!


@gotcredit wrote:

Not sure if this is the place to find what I'm looking for (or even allowed?), but I'll try anyway. 

 

I'm looking for someone that knows how to navigate the credit scoring world and can help me improve mine. I'm willing to pay a fee for this. I've heard of so many bs companies so I figured I'd come to a forum where individuals that have experience cleaning up their own report can help me do the same. 

 

Current credit profile: 

Recently paid off car

Never late 0 balance credit card (2+ years)

And...

8 or so closed CC with balance (2014-2015ish)

Co-signer on defaulted business loan (24k) (2014ish)

Personal guarantee on a business lease (defaulted) (2.7k) (2014ish)

 

I'd like to utilize all resources available (disputes, opening new lines, secured, or whatever it takes). 

 

My end goal is to have creditworthy of getting good rates on mortgages for real estate projects (utilizing private money at the moment).

 

Thanks!

 


 

Message 8 of 11
Frequent Contributor

Re: Looking for professional (paid) to help improve my scores


@californiadreaming87 wrote:

A good lesson to learn... Never pay off a vehicle as it can drop your score as much as 20 pts. I've done this a few times over the past 5 years and each time down goes my score. Never fails but... purchasing another car will counter balance the points adding most back. Or this has been my experience. Good luck!


I would think NOT paying off a car loan when due would knock way more than 20 points off your score. My understanding is that as long as you have some installment loan, including mortgages, you would not get the penalty for not having an installment loan. 

 

I would expect that replacing a car loan with a newer car loan would lead to some decrease in score because you have at least one new inquiry, reset your AoYA, and the balance would be 100% of your credit line.

Current Score: Mar 2019: EX FICO8 779, TU FICO8 800, EQ FICO 780, TU Vantage 773, EQ Vantage 786
AoOA: closed: 35 years, open: 24 years; AAoA: 11.8 years; Inquiries: 2019: 2, 2018: 3; No BK ever, 1 30 day late in 2013
Amex Gold, Amex Green, Amex Blue, Amex ED, Amex Delta Gold, Amex Hilton Surpass, BoA Platinum Plus, Chase Slate, Chase Amazon, Chase CSP, Sync Lowes, Sync JC Penney - total CL 129k
Loans: Prosper (20k/3yrs 7.14%), Lending Club (10k/3yrs 5.89%), Chase car loan (35k/6yrs 0.9%)
Message 9 of 11
Valued Contributor

Re: Looking for professional (paid) to help improve my scores


@DollyLama wrote:

@gotcredit wrote:

Not sure if this is the place to find what I'm looking for (or even allowed?), but I'll try anyway. 

 

I'm looking for someone that knows how to navigate the credit scoring world and can help me improve mine. I'm willing to pay a fee for this. I've heard of so many bs companies so I figured I'd come to a forum where individuals that have experience cleaning up their own report can help me do the same. 

 

Current credit profile: 

Recently paid off car

Never late 0 balance credit card (2+ years)

And...

8 or so closed CC with balance (2014-2015ish)

Co-signer on defaulted business loan (24k) (2014ish)

Personal guarantee on a business lease (defaulted) (2.7k) (2014ish)

 

I'd like to utilize all resources available (disputes, opening new lines, secured, or whatever it takes). 

 

My end goal is to have creditworthy of getting good rates on mortgages for real estate projects (utilizing private money at the moment).

 

Thanks!

 


Do not pay any repair credit. There is absolutely nothing you can not do that they do. They normally, take your money, dispute everything, or get a offer for a settlement. This is sometimes the not right approach at all. 

 

On your open zero balance credit card, let a small $10-15 balance report each month, say a recurring netflix, or a tank of gas. Then pay in full each statement. 

 

Are the 8 closed CC with balances big banks, Citi, Chase, Discover, AMEX, Cap 1? Are you making payments on these accounts? Or have they been charged off and or sent to collections? 

What is the statue of limitations in your state (this will tell you how long they stay on your reports, barring there are no or future judgments filed against you. 

 

Do you have financial resources to do any of the following:

Open secured CCs

Offer for pay for deletes if said charge offs, any medical, credit cards are in collections and date of first deliquency is more current, if close to end of statue of limitations, it may only be on your report couple of more years, possibly less. 

 

Welcome to the Forums and anxious to hear your response. 


There are some exceptions to not using credit repair services, that can help...sometimes. These services are not for profit, and are supported by many lenders. They are supported by these lenders as a means of preventing bankruptcy filings, which will surely result in huge losses to the lenders.When getting very behind, the lender might recommend one. Much like a chapter 13, it involves making one monthly payment to the non-profit, who like a bk trustee distributes funds to the creditors. The creditors may reduce interest rates, lower monthly payments, or extend the debts for longer time, and may put the payments you are behind to the end of the contract. New charges might be suspended until the debts a paid down substantially. It can be a win, win situation, avoiding discharges in bk, while getting the debts to a manageable monthly payment. These services will be BBB rated, and require no payments except the payments that fairly distribute the funds to your creditors, and even 1 missed payment can result in canceling the program. It is sort of chapter 13 light, and results in a lot less damage to your credit than bankruptcy. I have never used one of these services, but it might be something to look into.

TU fico08=823 08/12/19
EX fico08=813 08/10/19
EQ fico08=826 08/04/19
EX fico09=818 08/03/19
EQ fico bankcard08=849 07/23/19
Message 10 of 11
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