*Update-Closed!!* Supposed to close on the 31st and new collection being reported today

[Anonymous]

Oh no! What’s the rest of your file look like? Maybe ppl can help you figure out a way to boost it fast. Current utilization? That would be the easiest one.

[Anonymous]

Current overall revolving utilization for all accounts is at 31%. I just paid an account which I’m an AU that was at 55% utilization down to 7% which reports on the 23rd in addition to the card I mentioned earlier I paid down to 2% utilization. I have about two cards sitting at 28% utilization but they don’t close until the 25th. I was trying to hit the cards that report the earliest in the hopes for an immediate boost.

[CreditInspired]

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@Anonymous wrote:
Current overall revolving utilization for all accounts is at 31%. I just paid an account which I’m an AU that was at 55% utilization down to 7% which reports on the 23rd in addition to the card I mentioned earlier I paid down to 2% utilization. I have about two cards sitting at 28% utilization but they don’t close until the 25th. I was trying to hit the cards that report the earliest in the hopes for an immediate boost.

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Ugh on paying down the AU account because you’re not financially responsible for that account so the LO wouldnt take that account’s UT or min pymt into account. You could have used those funds to pay down your CCs or toward closing costs or downpayment. 

[Anonymous]

I paid down the AU account because it was affecting my overall utilization. I have seen the most increase in my score when I paid down this account. When I paid it down from 75% to 55% I got a 10 pt boost. I also paid down my own card to 2% and will be making another payment today on one of my cards at 25% down to 5% before the statement cuts. Hopefully that will take care of the 4 pts I need.

[Anonymous]

Update:
I called my LO this morning and he basically told me I had to take “care of this” and couldn’t seem to come up with any other scenario or solution. I called the CA and they told me they sent out a letter on 05/15 and that I should receive a letter in the mail any day now. I asked “So you put a collection on my credit report with the debt letter still on it’s way to my house? Anyway, she said they don’t do PFDs and it’s up to the CRA to remove it (yea right) it would just show as paid in full and asked if I would be making my payment today. I said I will wait until the letter arrives in the mail. After, I called the original creditor FirstEnergy/MetEd and spoke with someone in the credit department in the hopes I could make a payment with them. I was allowed to make a payment for the $122 and MetEd said my credit report should reflect that. I have confirmation of the payment and everything.
ETA: MetEd also stated the debt would be “pulled back” from the CA and that they would reach out and state it has been paid.

[Anonymous]

That’s great news! Fingers crossed you can get it off by the 31st. I’d suggest trying AZEO to bump the scores in the interim.

[gdale6]

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@Anonymous wrote:
Update:
I called my LO this morning and he basically told me I had to take “care of this” and couldn’t seem to come up with any other scenario or solution. I called the CA and they told me they sent out a letter on 05/15 and that I should receive a letter in the mail any day now. I asked “So you put a collection on my credit report with the debt letter still on it’s way to my house? Anyway, she said they don’t do PFDs and it’s up to the CRA to remove it (yea right) it would just show as paid in full and asked if I would be making my payment today. I said I will wait until the letter arrives in the mail. After, I called the original creditor FirstEnergy/MetEd and spoke with someone in the credit department in the hopes I could make a payment with them. I was allowed to make a payment for the $122 and MetEd said my credit report should reflect that. I have confirmation of the payment and everything.
ETA: MetEd also stated the debt would be “pulled back” from the CA and that they would reach out and state it has been paid.

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With that "pulled back" statement it means they are recalling it and it should be removed from your CRs. You might need to make sure it happens. Good work on getting it resolved.

[Anonymous]

Thank you for your advice and I’m relieved for now. I have been paying down my utilization further (for the cards that close within the next 2-3 days) and even paid off a credit card entirely within the past day or so. I’m hoping all these things will get me those 4 pts needed for my middle score to be back within the FHA threshold again.

[Anonymous]

Hi all,
I received my CTC today!!! Woohoo! Scheduled to close on Friday the 14th. Thank you so much for your advice as the dispute remark removal and collection appearing at the last minute was definitely stressful. I was able to raise my middles score back to over +15 pts by paying down some of my utilization and I also had the collection removed entirely. I am so freaking happy! We (my husband and I) had some setbacks in this process but persistence and knowledge (thanks to this wonderful board) helped us out so much. Thank you MyFICO!

[KatieKatie]

Congratulations!!! What an awesome update