Please help

[ostap]

My revolving debt ratio is 61% and TU score 612 and EX 604

How much time it takes to improve my credit score if I pay all my debt tomorrow(I really mean it!!!)?

Thanks in advance

[Anonymous]

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@ostap wrote:

My revolving debt ratio is 61% and TU score 612 and EX 604

How much time it takes to improve my credit score if I pay all my debt tomorrow(I really mean it!!!)?

Thanks in advance

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It should help dramatically,  However, UTIL is just one component of a FICO score (albeit a major one).  Any negative factors including late payments, charge offs, collections, judgments, bk, etc. will have an effect on your score.

If you'd like to share more specifics about your credit profile, there are many posters who could help you evaluate the best course of action to raise your scores.

[Anonymous]

If you paid it off tomorrow, you should be in the 700's the next time your creditors report. Thats if you dont have any CO's, collections or any other derogs.

[ostap]

Here is my history:

Macy's department store CC - one late payment 60 days (dec 2006) and one 30 days(feb 2009)

SHBC - one 30 days late payment (sept 2007)

What about Feb 2009 Macy's CC, payment didn't go through and they didn't notify me about that. I called and spoke with customer service and they took out late fees and in stuff. Customer service representative also promised to take care of injury on credit bureaus.

What should I do to take delinquency for Feb 2009 off my C history?

[ostap]

He never did it!

[ostap]

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@Anonymous wrote:
If you paid it off tomorrow, you should be in the 700's the next time your creditors report. Thats if you dont have any CO's, collections or any other derogs.

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When is it next time?

Thanks

[Anonymous]

For your lates on the macys account, you would need to contact them to change the late notations on your CR for the Feb incident. As well, fire out a good will letter letter for that 2006 60 days late. On your SHBC (Or did you mean HSBC?), I recommend doing the same thing and sending out a GW. 

Your bank reports your balance and status of your account to the credit bureaus each month (depending on your payment cycle). Most of the time when you recieve your billing statement in the mail, your credit report will reflect that current balance. 

Message Edited by Chopbrocoli on 07-29-2009 01:18 PM

[ostap]

You were right, my score has gone up 80 points for 15 days period. That's a good sighn. My last report shows 679 points and it is for 8/13/09. Thank you so much for help. Good luck to everyone

[ostap]

Would you tell me where I can find a sample of Good Will letter. I need to see how it looks like becouse I have no idea what to say about in it.

THANKS

[MarineVietVet]

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@ostap wrote:

Would you tell me where I can find a sample of Good Will letter. I need to see how it looks like becouse I have no idea what to say about in it.

THANKS

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If you go to the top of this page and do a search for "GW letter template" that should help you.