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Help / Boost FICO score by 30 points in 60-90 days

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Re: Help / Boost FICO score by 30 points in 60-90 days


@choyer wrote:

Here are the collections amounts and creditors:

 

  • Collection (Green Mountain Energy) - Date last active September 2016 / Amount $716
  • Collection (Just Energy Texas) - Date last active September 2016 / Amount $107
  • Collection (Comcast) - Date last active July 2016 / Amount $136
  • Collection (The Cash Store) - Date last active March 2015 / Amount $1,139
  • Medical collection (AMCOL Systems Inc) - Date last active June 2014 / Amount $373
  • Medical collection (Commonwealth Financial) - Date last active August 2013 / Amount $139
  • Charged-off Revolving Furniture Account (WS Badcock) - Date last active April 2013 / Amount $900


@choyer wrote:

Here are the collections amounts and creditors:

 

  • Collection (Green Mountain Energy) - Date last active September 2016 / Amount $716
  • Collection (Just Energy Texas) - Date last active September 2016 / Amount $107
  • Collection (Comcast) - Date last active July 2016 / Amount $136
  • Collection (The Cash Store) - Date last active March 2015 / Amount $1,139
  • Medical collection (AMCOL Systems Inc) - Date last active June 2014 / Amount $373
  • Medical collection (Commonwealth Financial) - Date last active August 2013 / Amount $139
  • Charged-off Revolving Furniture Account (WS Badcock) - Date last active April 2013 / Amount $900

And what state do you reside in? Find out what your Statutes are.

BK CH7--Filed September 25, 2018--D/C Jan.4, 2019
{FICO8 Feb.12, 2019--TU 580--EX 600--EQ 626}

Credit One Visa ($500 now $700) Nov. 2018
SelfLender (2 year) Nov. 2018
Capital One Platinum MC ($2000) Jan. 2019
Target RedCard ($500) April 2019
Venus Comenity ($500) May 2019 no HP


FICO 8 SCORES: 06-02-2019616 TU613 EX638 EQ
Message 21 of 23
New Contributor

Re: Help / Boost FICO score by 30 points in 60-90 days

First determine whether those collections will be removed after paying them; that's the main reason for such a low score. Forget about applying for secured or unsecured credit UNTIL you've dealt with those collections.
Message 22 of 23
Contributor

Re: Help / Boost FICO score by 30 points in 60-90 days

You are being given so much "BAD ADVICE!"

 

I'll be short, okay?

 

Unless you are trying to close on a mortgage and the broker is demanding that you pay these collections, to get the mortgage, YOU NEVER, EVER, EVER, EVER, EVER, PAY COLLECTION AGENCIES.

 

Did I mention, NEVER & EVER?

 

And, even then, I would contact the original creditor FIRST and see if you could work something out where they would Pay For Delete (In writting and immediately, of course). You might have to show good faith and pay them a small amount over the phone, first, therefore proving to them that you are serious.  

 

Paying collections "WILL NOT" help your credit score, EVER!

 

That is a MYTH!

 

Now, if the collection agency has sued you and obtained a judgement in court, then, for lack of a better word, you are stuck and will be forced to pay them, as they can collect that debt for ten years from the date of the judgement, which means they will garnish your pay!

 

However, if you are attempting to obtain "NEW" credit from a creditor that you burned in the past, even though it might be an old debt and even fell off of you credit report after seven years, that company might have you "Blacklisted," so, depending on the balance, I might consider, paying it off with the "ORIGINAL" creditor, not a collection agency! 

 

Prime example, you are trying to get approved for a Capital One Auto Loan, but you burned them three years earlier on a Capital One credit card and defaulted after charging a balance of $500 or more, I would try to get that paid or shop with another creditor.

 

I'm not speaking particularly of this forum, but, I've read posts,where people try to work on your emotions, saying, "If you know you owe the debt, pay it."

 

I agree, but don't pay it to the collection agency, pay it to the original creditor ONLY!

 

Now, if the original creditor has charged-off/written-off your debt to them and/or refusing to pull the debt back from the collection agency, then what they are saying to you is, "Sir/Ma'am, I don't give a HORSE'S APPLE about getting paid."

 

At that point, I would simply say, "Thanks," and hang up the phone.

 

Here's some advice, you should never have to jump through hoops to pay someone, period.

 

If they (the original creditor)truly want their money, trust me, they'd bend over backwards to make your experience as easy as possible.

 

Think about it, if your friend borrowed $2000.00 from you eight years ago, and didn't pay you back, yet, that "old" friend calls you one day out of the blue, and attempts to work out a payment plan, maybe $50 every pay check, why wouldn't you do it?

 

And, wouldn't you make your friend's payment process as easy as possible, even driving twenty minutes to get your weekly and bi-weekly $50 payment?

 

I know I stated, I'd be short, but I'm passionate about this.

 

I'll end on this note:

 

NEVER EVER, EVER PAY A DEFAULTED BILL, ONCE IT HAS BEEN SENT TO A COLLECTION AGENCY, EVER!

 

Exceptions: Court Judgments or Federal Student Loans.

Message 23 of 23
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