Need to increase Fico 15 points!

[Anonymous]

My score are 522,565, and 564, I had spoke to the bank yesterday about a FHA Loan, they want me to have a 580. I need to increase my score at least 15 points, but I don't have any CC, just 2 installment loans, and a student loan. My negatives are old medical bills. Can I do anything to get them up?

[Junejer]

How quickly are you trying to purchase? If you have some time before the purchase, I would say that adding a CC to the mix, would probably help. Most will say NOOOOOO, don't app for credit before a purchase, but in my case, it actually helped my scores to add a CC to the mix, as I didn't have any open, active CCs. Remember YMMV.

[Anonymous]

CARLA82,  medical debt is different then other debt. All paid medical must be deleted.  Are these paid?

If not I would PIF the OC ( not the CA) !!      When making payment use the restrictive endorsment!  All bills need to be paid with separate checks and when using the HIPAA process all must be done on separate paper!

Separate accounts ...meaning......If you have a hospital bill and it was for more then 1 visit or Ex-rays etc  these are all separate accounts. Each should have a different account # also.

If these were already paid then you can start the HIPAA process. This process must be followed in the correct order!!!    

I agree with ByrdMan  you need a CC. CCs count more toward scores then installments which is all that you have now.

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=27537

Message Edited by HappyDays on 01-07-2009 01:39 PM

[eddymvp]

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@Anonymous wrote:

If not I would PIF the OC ( not the CA) !!      When making payment use the restrictive endorsment!  All bills need to be paid with separate checks and when using the HIPAA process all must be done on separate paper!

Separate accounts ...meaning......If you have a hospital bill and it was for more then 1 visit or Ex-rays etc  these are all separate accounts. Each should have a different account # also.

If these were already paid then you can start the HIPAA process. This process must be followed in the correct order!!!    

I agree with ByrdMan  you need a CC. CCs count more toward scores then installments which is all that you have now.

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=27537

Message Edited by HappyDays on 01-07-2009 01:39 PM

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What do you mean with this?

I have a collection agency showing up in my EX report from 2003 which I PIF last year to get it off my report and it didn't come out. Since its a medical bill, how can I remove it off my report?

[Junejer]

 

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eddymvp wrote:

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@Anonymous wrote:

If not I would PIF the OC ( not the CA) !!      When making payment use the restrictive endorsment!  All bills need to be paid with separate checks and when using the HIPAA process all must be done on separate paper!

Separate accounts ...meaning......If you have a hospital bill and it was for more then 1 visit or Ex-rays etc  these are all separate accounts. Each should have a different account # also.

If these were already paid then you can start the HIPAA process. This process must be followed in the correct order!!!    

I agree with ByrdMan  you need a CC. CCs count more toward scores then installments which is all that you have now.

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=27537

Message Edited by HappyDays on 01-07-2009 01:39 PM

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What do you mean with this?

I have a collection agency showing up in my EX report from 2003 which I PIF last year to get it off my report and it didn't come out. Since its a medical bill, how can I remove it off my report?

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Eddy, because you have those medical collections, you need to use the HIPAA Process. It's different from the regular collection process. You have to follow it step by step.

Message Edited by ByrdMan on 01-07-2009 07:03 PM