@Anonymous wrote:Hi Guys,
I'm feeling a bit discouraged. I've been working really hard on repairing my credit. I have 9 collections. All OCs are COs. I've settled and paid 3/9 and 3 more will be paid in a week. I'm learning that i've made the mistake of settling with CA and not the OCs. I was under the uninformed assumption that once the CA was removed I would see great improvement in my score. I have about 4 more years for the COs to fall off. All other accounts (5), are in good standing. Does this mean that my scores will remain in the upper 500s for the next 4 years? Is there anything I can do to get some sort of a boost?
Well as far as the OCs still on as they stop updating monthly and begin to age your Fico will also begin to recover. You may get a boost as the utilization numbers come down from paying off those OC accounts. Getting the CA removed is also a good thing and you can deal with the OC and ask that they recall the collectors (some will others wont) in exchange for payment. I am assuming you have 5 other good open accounts of which 3 are at least revolvers... You want to have only 1 report a small balance monthly to also boost your Fico.
