Need 14 points to be at 620

[Erika3o3]

Ok so I am trying to see if you all could give me some advice on what I can do to get the 14 points needed.

My report currently looks like this :

 Lendmark Auto Loan - 11,300 (current no lates)

 Affirm - 185 (current no lates)

Capital One Platinum - $0 balance ($500 limit, current no lates)

Capital one Quicksilver - $0 balance ($2000 limit, current no lates, not reporting yet as its a new card. Should report in June)

Kohls - $0 balance ($300 limit, current no lates)

Discover IT - Reporting $133 balance, already paid to $0 now ($1500 limit, current no lates)

Collections or Derogs:

Progressive - $270 ( just paid this off as a PFD on Wednsday)

Medical Debt - $831 (Reported 9/20/2017)

Medical Debt - $67 (Reported 9/9/2019)

Apartment Debt Owned by National Credit systems but has been sent to their Attorney  Brett M Borland - $5966 ( Plan on trying to settle this with a PFD on Tuesday this week, if they refuse to PFD .. not sure how I should proceed)

Medical Debt - $105 (reported 2/12/2020)

Conns - $3,209 (CO reporting monthly Opened 05/2016, Reported as a loss by credit grantor)

Conns - $3083 (CO reporting monthly, Opened 04/2016, Reported as a loss by credit grantor)

Air Academy Federal Credit union - Personal Loan - $0 balance (paid off early, but still shows as a negative on my report because two 30 day lates and two 60 day lates from 2016

[Pony4her]

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@Erika3o3 wrote:

Ok so I am trying to see if you all could give me some advice on what I can do to get the 14 points needed.

My report currently looks like this :

 Lendmark Auto Loan - 11,300 (current no lates)

 Affirm - 185 (current no lates)

Capital One Platinum - $0 balance ($500 limit, current no lates)

Capital one Quicksilver - $0 balance ($2000 limit, current no lates, not reporting yet as its a new card. Should report in June)

Kohls - $0 balance ($300 limit, current no lates)

Discover IT - Reporting $133 balance, already paid to $0 now ($1500 limit, current no lates)

Collections or Derogs:

Progressive - $270 ( just paid this off as a PFD on Wednsday)

Medical Debt - $831 (Reported 9/20/2017)

Medical Debt - $67 (Reported 9/9/2019)

Apartment Debt Owned by National Credit systems but has been sent to their Attorney  Brett M Borland - $5966 ( Plan on trying to settle this with a PFD on Tuesday this week, if they refuse to PFD .. not sure how I should proceed)

Medical Debt - $105 (reported 2/12/2020)

Conns - $3,209 (CO reporting monthly Opened 05/2016, Reported as a loss by credit grantor)

Conns - $3083 (CO reporting monthly, Opened 04/2016, Reported as a loss by credit grantor)

Air Academy Federal Credit union - Personal Loan - $0 balance (paid off early, but still shows as a negative on my report because two 30 day lates and two 60 day lates from 2016

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I'll definitely allow the more seasoned members to join in regarding the collections, however, I'm thinking you may want the Discover to have a small balance - under 9% utilization, the other store cards can be at zero ( see AZEO method).

[Anonymous]

Tackling those derogs and PFD any collections that are willing will be the points you need. If they aren't willing, it truly depends on when it's going to fall off your report and/or if they're updating monthly and continually suppressing your scores as to what to do next. You don't want to wake any collectors who aren't updating monthly by contacting them to offer a settlement payment, only unless you are sure they will PFD. You can try to GW those late payments by sending letters in hopes that they would remove the late payment data. 

The apartment debt if you can't get them to delete, you may still want to resolve the debt so they don't pass a defaulted judgement  considering it's with an attorney. You might be able to settle this for 40-50%, but sometimes they play hardball at this stage and demand it be paid in full. 

You have quite a few things you can work on to get those points that you need. Focus on the ones that will PFD first if possible, as they fall off your score will gradually climb. 

[Erika3o3]

So since the charge offs are reporting every month still would it be best to contact them? The charge offs are scheduled to fall off April 2023

[Anonymous]

I am by no means a credit pro, but I have made my way through similar issues that you seem to be facing and I just closed on my house!

So my personal opinion would be focus on the ones that are reporting monthly as they're going to continue to suppress your score each month. I had 2 collections and several charge offs. Luckily both collections of mine PFD. However, COs don't tend to do that and will only update to a paid status. The ones that aren't reporting monthly, check when those would fall off and make the decision whether it's worth waking the bear for a possible denial of PFD and update on your report or not. 

I was not required to pay my COs to close (FHA) but I did so that I looked better to the lender since my score wasn't so strong. If you're just trying to squeeze a few points, take down as many PFD collections that you can. 

[Remedios]

@Erika3o3  I've moved your post to rebuilding section so you can get help with tackling negative items and hopefully get some points. 

I didn't move it to scoring section since the issue here is apparent. 

Good luck and I hope you get where you need to be soon!

[OmarGB9]

Definitely pay those COs/CAs off if they're updating monthly, regardless of whether they agree to PFD or not. Especially the apartment one, even if they don't agree to PFD, I'd still take care of it because if it's already been transferred to an attorney, you can be sure they're getting ready to sue for the full amount + court costs.

[Erika3o3]

Thank you everyone for all of your advice I greatly appreciate. I will impliment what I can and see what happens. Fingers crossed.