@Anonymous wrote:
Hello Fellow Members:
I just needed some help with my credit reports, i been reading alot of helpful information on these forums and is my first time posting so bare with me please and thank you, my credit scores are (Fico) Experian 629 Equifax 595 Transunion 640
Baddies:
1st progress:
47 charge offs
Balance $84 credit limit $300
date opened sept 26 2013
last updated sept 1 2015
Capital One:
47 charge offs
balance $2,951 credit limit $3,300
date opened june 25 2014
last updated feb 1 2016
Merrick Bank:
48 charge offs
balance $0 credit limit $550
date opened dec 24 2014
last updated july 1 2019
status: paid, was a charge off
My question is can these accounts have so many charge offs and are they hurting my credit every month?
my accounts in good standing are these,
Capital bank:
balance $0 credit limit $500
no late payments
date opened july 28 2017
Capital One:
balance $0 credit limit $500
no late payments
date opened july 12 2019
Td bank secured cc:
balance $0 credit limit $500
no late payments
date opened may 17 2017
Auto Loan:
no late payments
Thats everything, i would appreciate any help i get i am trying to buy a house next september so i am really trying to fix everything on my report thank you guys for any help.
@Anonymous first off you don't have 47 chargeoffs. You have 3. Once an account is charged off, that's it.
However since that's the current status they are allowed to continue to report that as long as that is the status. So they can continue to place that in the payment history grid each month, but that does not consist of a separate or additional charge off.
Second you have to pay those two unpaid charge-offs (if you want a mortgage) and the sooner you do so, the better, first progress and capital one.
As for the paid chargeoff, Merrick, that's where you need to use the goodwill saturation technique.
As for first progress and capital one, they're not really known for PFDs, but that doesn't mean that it hurts to ask. And there's nothing else after paid, you can put the Goodwill saturation technique to use on them as well.
Either way, the sooner you pay those unpaid chargeoffs, the better your score will recover and put you in a place for your upcoming mortgage.
