Credit Repair 101

[Melanie220]

Hey guys, just looking for a little help. My credit report is pretty banged up. I have a total of 15 collections account 10 of which have been paid off 8 have been removed. Which leaves me with about 5 more to work on. I have a total of 6 student loan tradelines reporting two from citibank that were late at 120 days plus several times last late occurred March of 2012. They have been sold to Sallie Mae now. I have two loans originally from Sallie Mae that have one 90 day late in April of 2011 on both of those. All of these loans have been turned over/ sold to Dept of Ed and have been deferred now. I start making payments on the 15th of this month. I have no credit cards besides from the First Premier Bank card I had in 2006 that was charged off in 2006 for a balance of 374.00. It's due to fall off of m report in June of 2013. Can anyone give me any guidance of what I should be doing to start the rebuilding process. I am really trying to get my scores up to 600.
My Fico TU is 562. I have not updated since two collections came off so hopefully I'll get a boost.
My Equifax score is 503 and I have not updated since 5 collections came off.

Any help would be greatly appreciated! Thanks for reading!!

[guiness56]

Start sending GW letters to whatever has been paid.

I would also get your current scores to see where you are. 

Are you rehabbing your student loans?

[Melanie220]

I have goodwilled all of the collections. In the process of doing another round. No my student loans aren't rehabbed. Is that an option for me. I have score Watch for EQ from MyFico and haven't gotten an update. My TU is due April 1 so hopefully I'll get a boost then. I am waiting on disputes from both to be resolved before I buy a score.

My student loans are reporting 120 plus days late from citibank in current status and I was under the impression that once they were sold they should be reported as transferred/sold

[guiness56]

I am not sure.  Here is a link about that, types of loans that quailfy etc.

http://studentaid.ed.gov/repay-loans/default/get-out

[Melanie220]

Thank you!