Please Help Me.....

[Anonymous]

I have been reading all this great advice and I really need to start repairing my credit. I am just a little confused on where to start.(I know that may be silly.) I am very overwhelmed. My credit scores are Trans 573...Experian 608...and Equifax 514. I want to buy a home within the next 2 years but not with these scores. (from what I have read the i/r would be scary) Any help would big a big help. Thanks.

[Anonymous]

The quickest way I raised my scores was bringing my credit usage down by paying off credit cards. What's your credit utilization vs your credit limits? If you could, break down all your debt here. You want to get down to 1-9% utlization.

Next would be outstanding collections - those will make big impacts as well, especially if they're within the last two years.

[Anonymous]

Hi Rese, welcome to the forums. First you must pull all 3 CR!!!!

Look at anything like CO     collections  CAs   try to match all OCs with any CAs. Late payments hurt for the first 2 years .

CC UTIL is important!!!   your UTIL should be below 10%      FICO likes some CCs with a Bal $0

Never max out CCs!!!!

Before doing anything  know your SOL!

  simple SOL

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8

Check for all baddies.

Feel free to post all questions as many times as you need!!   Post any baddies but include the DOFD/DOLA  and your SOL

This thread has all the abbrevs that we use  and the frequently requested thread (full of info)

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=38534

LAWS  federal & state   CRTP v SOL

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=17466

[Anonymous]

Thank you guys so much. I have a co cc per TU the estimated date it will be removed is 07/09...Is this reliable information? Also I do have two cc. Per My Fico my Util is 153%(equifax). Per annual credit report its 91%(equifax). The difference is equifax reported to my fico that the co cc was not closed can I do anything about that? Does this effect my score? I know I need to pay down my cc's first right? Then how do I choose which collection account to pay first. There are a lot of them and 95% is medical.

[Anonymous]

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Rese wrote:

 Then how do I choose which collection account to pay first. There are a lot of them and 95% is medical.

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Paying a collection won't help your score really.

If you know DOFD, DOLA and if they are out of SOL........you can send DVs and PFDs.

It is best to negotiate a PFD when paying a collection.

[Anonymous]

Does sending a PFD restart the SOL? I know I have that CO CC that per TU should fall off 7/10 should I even bother with that or the newer ones first? Thank you

[Anonymous]

Rese, you will get better info. if you post the COs  with the DOFD/DOLA  or the date it will drop from your CR.    What is your SOL?

simple SOL

http://www.bankrate.com/brm/news/cc/20040116b2.asp#wa

Never do anything unless you know your SOL.

[Anonymous]

I am in NV so I am thinking that for a cc the SOL is 4 yrs. The cc was with Capital One opened in 12/2001 and closed in 8/03. Per TU it shows that it should be removed 7/09. I also have many medical bills but I am not sure what category they fall under written/oral contracts ext. I just don't know where to start. very overwhelmed

[Anonymous]

I am in NV so I am thinking that for a cc the SOL is 4 yrs. The cc was with Capital One opened in 12/2001 and closed in 8/03. Per TU it shows that it should be removed 7/09. I also have many medical bills but I am not sure what category they fall under written/oral contracts ext. I just don't know where to start. very overwhelmed

[Anonymous]

I am in NV so I am thinking that for a cc the SOL is 4 yrs. The cc was with Capital One opened in 12/2001 and closed in 8/03. Per TU it shows that it should be removed 7/09. I also have many medical bills but I am not sure what category they fall under written/oral contracts ext. I just don't know where to start. very overwhelmed.....