Getting the most bang for my buck

[bruiseviolet]

I'm going to make this short and simple.

What will have the best impact on my credit score in the short term?  (meaning 6 months or less).

Credit score is in signature-  around 550-570 range.

I have zero credit  cards.

I have two student loans- but they aren't in repayment until 2012- they just show up on my report and say not in repayment yet

I have about 20 medical bills that in collections ranging from 50 bucks to 900

I have 3 collection accounts- one if for ranging between 34 and 100 each.  All 3 are set to 'fall off' within the next 18 months.  ( i have the money to PFD these- but since they are so close to coming off - really old accounts- will they even have that much effect on my score?)

I have two judgements- one is for an old landlord- so it's made renting or buying a home near impossible- (besides the other things like fico score lol)  originial bill was 3000 -  my taxes are garnished every year- so not sure what balance is left- it's due to fall off my report in December 2012-   The other judgement is with a collection agency for an old credit card-  original balance was 6000 - they garnish taxes as well- so not sure how much is left on that either- but that's not set to fall off until 2014.

including my student loans, medical collections and judgements, I have about $20,000 in debt showing on my credit report.  =(

Statute of limitations where I live (michigan) is 6 years.

What will give me the most bang for my buck?  I have posted my entire credit report before asking for advice- but I didn't really get any direction.  

I just want a general idea because i have been sitting here for 3 months now going i need to fix things, but i dont know where to start- and i haven't

done a darn thing.  Please can anyone give me some direction on what to attack first?  Do judgements hurt your fico worse than a collection account or when they are scored are they the same?  

[sobreezy]

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@bruiseviolet wrote:

I'm going to make this short and simple.

What will have the best impact on my credit score in the short term?  (meaning 6 months or less).

Credit score is in signature-  around 550-570 range.

I have zero credit  cards.

I have two student loans- but they aren't in repayment until 2012- they just show up on my report and say not in repayment yet

I have about 20 medical bills that in collections ranging from 50 bucks to 900

I have 3 collection accounts- one if for ranging between 34 and 100 each.  All 3 are set to 'fall off' within the next 18 months.  ( i have the money to PFD these- but since they are so close to coming off - really old accounts- will they even have that much effect on my score?)

I have two judgements- one is for an old landlord- so it's made renting or buying a home near impossible- (besides the other things like fico score lol)  originial bill was 3000 -  my taxes are garnished every year- so not sure what balance is left- it's due to fall off my report in December 2012-   The other judgement is with a collection agency for an old credit card-  original balance was 6000 - they garnish taxes as well- so not sure how much is left on that either- but that's not set to fall off until 2014.

including my student loans, medical collections and judgements, I have about $20,000 in debt showing on my credit report.  =(

Statute of limitations where I live (michigan) is 6 years.

What will give me the most bang for my buck?  I have posted my entire credit report before asking for advice- but I didn't really get any direction.  

I just want a general idea because i have been sitting here for 3 months now going i need to fix things, but i dont know where to start- and i haven't

done a darn thing.  Please can anyone give me some direction on what to attack first?  Do judgements hurt your fico worse than a collection account or when they are scored are they the same?  

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From my understanding judgments do really big damage to your score.  I would start with the medical debts and the collections although they are set to fall off they are doing immediate damage to your score now.  It seems that you are in the perfect situation to do a PFD for most of your accounts.  If you decide you can wait 18 whole months until some of your collections fall off just focus on all those medical bills.  Try a PFD first and if that doesn't work PIF and then send out GWs.  Any steps taken to improve your score will give you the biggest bang for your buck.

[bruiseviolet]

thanks for the reply-  I didn't write it in my question, but that was really the heart of my question-  are the old judgements doing more damage to my score than the more recent medical bills.   Thank you