What's my next step my score is not getting better!

[Anonymous]

I'm not sure what I'm doing wrong, I currently have a credit score of 532,533,548, I started off in March with 600,601,590 I had a 30 day late on 3 credit cards and two car notes in March my score dropped to 420,490,465.  Since March no late's.

I'm trying to get my scores up so I have paid off and paid down my credit cards over the pass 6 months.  I have one account capital one w/500 limit at 325, merrick bank account 660 w/313 balance and a hsbc account 750/w245 balance.  One car note of 326 a month.  One collection that was set up last year as $100 dollar a month I have been paying 200, to pay the account off.  I have documentation that a payment plan was set up, but can not get the CB to update it.  I have been paying accounts off each month and by the end of December all my credit accounts will have a zero balance, but my score is not moving.  I have also sent out gwl and some of the late have been removed but nothing.  am I looking for a change too soon?  What's my next step?  HELP

original accounts 6 credit cards, two car notes, one collection over the past 12 months.

[Anonymous]

Keep on paying things down and don't be late again. GW is good too.

Time will be your friend just be patient.

As I see it you would get your fastest score jump from paying the credit cards down.

Cut spending in any areas that you can, sell something if you have to or pick up an extra job or some extra hours.

By next year the 30 day lates won't have much of an effect on you.

Can you get a pay for delete on the CA? Regardless of whether it is paid or unpaid it will have the same effect on your score as long as it is on your report.

But if your scores were in the 400's in march and are in the 500's now... then they are moving. Just not as fast as you would like. Hang in there!

[Junejer]

Hi blueangel, welcome to the forums. Please read credit scoring 101, if you haven't already. Once you are able to get the CCs paid down, only allow one per month to report a small balance (9% or less). Pay down a few days before the statement cuts and then PIF when the statement cuts.

The other three closed CCs, how long have they been closed? Are they able to be reopened?

As Amyboo stated, try to get a PFD from the CA.

[Anonymous]

You are definitely on the right track.  People often ignore those things and then when they really need credit realize theirs is terrible because they ignored the problems.

Keep paying down the balances, that will help immensely.  Also, your new motto should be like several people's here: "Don't ever pay late.  Never Ever."  Over time the combination of lower balances and those lates aging (or being deleted) will see your score start climbing.

Keep working on the PFD as well.

[Anonymous]

Unfortunately I can not get the attorney to do anything about the collection but I plan on having that paid off by February. You are right I have to be patient. Thanks

[Anonymous]

The accounts I paid off where done last month and they have not been updated yet, I've even gotten the close letter for one account.  I closed the two accounts because there was a monthly charge that the company would not change, so it was going to cost me to keep the account open.  I just paid off another account the other day and will pay another one off on Friday.  I'm still waiting for the other two accounts to show paid.