Is it possible?

[GoodCredBen]

I dont mind if you have negative feedback, or positive feedback, or no feedback and just want to post and say hi.....

But as of right now, my scores are around what is listed in my signature.....

I have 11 paid collections/charge offs on my CR's i am trying to get off with GW's.....

I also have 5 - 30 day lates on my longest auto loan (as of this month, 3 within the past 24 months) 

I also have the University of Phoenix reporting a collection/charge off of 2210 dollars.....

I have one other auto loan which has never been late and will be paid off in a month or two....

I have one CC that i just opened up,

One paid off student loan,

One student loan i have never been late on...

BACK to my question....

Will i be able to get to 620 in 6 months?  

right now it doesnt seem likely.... 

[fused]

As you know, everyone's situation is different. That said, I think its certianly possible for your FICO scores to be higher than 620 in six months. Paying off charge-offs that are being calculated in your utilization will help you. Getting the more recent lates removed will also help you. Keep in mind that CO's count in credit history length an AAoA. Having older CO's removed from your reports might have a negative impact on those.

Do you have only one CC? Do you have any Visa's or MC's?

[esmer0924]

The way I see it, is ANYTHING is possible. 

When I started working on my credit on 9/9/2011, I had the following:

EXP - 17 accounts - FAKO 659

EQ - 15 accounts  - FAKO 650   

TU - 19 accounts - FAKO 646

Now I have:

EXP - 9 accounts - FAKO 680

TU - 10 accounts  - FICO as of today 689

EQ - 10 accounts - FICO as of 10/3/11 672, I will update this in two weeks

[GoodCredBen]

I have one CC 300 dollar limit rewards card from cap 1.

the problem is, when i paid all of these off, i didnt know of PFD....

So now getting them to do anything since they got their money, is so hard.... 

Also .... i keep getting the answer they are required to continue to report... which if i understand correctly, they are only required to report POSITIVE info to your report..... 

[fused]

There is no law that states creditors and third-party collectors are required to report anything good, bad, or in between. The law only states what's on your reports must be accurate. Its quite common to be denied a GW because many who handle these types of requests don't understand the law, or they state a silly company policy of not removing baddies.

Its my impression you need a couple of more CC's. One isn't enough. You need to dilute the bad stuff on your credit reports with positive trade lines. CC's carry more weight in FICO scoring than installment accounts. I would start a new thread in the CC forum to see if others agree me.

[GoodCredBen]

I completely believe you, but no one will give me another CC yet .... i already have 8-11 inqs

Based on my scores, anyone know of a company other then cap1 that will give me another card?

[RobertEG]

My two cents....

The presence of multiple major derogs in the form of charge-offs and collections are cumulltively having a major impact on your score.

I would not expect significant improvement until they age or are deleted.

The accounts in good standing are contributing to increased age of accounts, but that is slow and relatively minor contribution to score improvement.

How old is each collection and charge off?  Are any disputable as to accuracy, or is GW your only avenue for deletion/

As for the "silly rule" to not delete accurate information, the CRAs have a clear policy, incorporated into all of their reporting agreements, that furnishers are not to delete information based on later payment of the debt.  While that is not a statutory provision, nevertheless it is an agreement.  Yes, furnishers  can choose to make exceptions. The CRA's dont not require the furnisher to provide reasons for any deletion and dont  "police" this requriement, but it is a bit more than a "silly rule."

Its express intent is to maintain the objective integrity of the credit reporting system.

[GoodCredBen]

They have all been paid for over a year, and thanks for clearing it up, was close to what i thought it was.....

[tryingtostartover]

Hi Benjamin. IT IS ABSOLUTELY possible!!! I started cleaning my credit up in March and my starting scores with all 3 bureaus ranged between 602 and 626. I wrote so many goodwill letters and made many, many calls and sent tons of emails almost to the point of harrassment and used my credit cards sparingly then paid in full. Today I had a LO pull my scores and today they are:

EQ: 774

EX: 721

TU: 729

So believe me, it is very possible with a lot of self control and hard work.

Good luck!!