Trying to raise score as efficiently as possible... Help!

[Anonymous]

I had some money problems while I was in school, and now I am trying to figure out the best way to raise my score and get things back on track in a relatively quick manner. I have been using Lexington Law, but I have only had 3 removals in that last few months and I don't think it's worth the money (I could probably do a better job myself... but I am busy!). I am also becoming an authorized user on one of my mom's cards so that should increase my length of credit history (avg account length right now is 3 years, 9 mos), credit limits, and positive payment history.

I currently have 12 "positive" accounts, which are my student loans, car loan and credit cards. However, I have 7 negative accounts, and here is the breakdown:

• 60 day late payment from 6 years ago.... challenging it via LL
• A private student loan that fell into collections (I was under the impression it was my parent's loan, but I have begun to pay it down) - $7000
• 1 charge-off with a $0 balance... challening via LL
• 1 collections account with a $0 balance.... challenging via LL
• Charge-off with $536 balance
• Charge-off with $658 balance
• Charge-off with $1207 balance

I am MORE than willing to pay off my charge-off accounts, but I haven't done so yet because I had heard that it wouldn't change my credit score (these balances aren't reflected in my credit utilization either). However, I am very interested in pay-for-deletion. Have any of you had luck with that? If so, what are your tips?

My current scores are:

Equifax:                  573

Transunion:           598

Experian:               591

My goal is to reach 700+ by the end of the year.... HELP!

[Anonymous]

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@Anonymous wrote:

I had some money problems while I was in school, and now I am trying to figure out the best way to raise my score and get things back on track in a relatively quick manner. I have been using Lexington Law, but I have only had 3 removals in that last few months and I don't think it's worth the money (I could probably do a better job myself... but I am busy!). I am also becoming an authorized user on one of my mom's cards so that should increase my length of credit history (avg account length right now is 3 years, 9 mos), credit limits, and positive payment history.

I currently have 12 "positive" accounts, which are my student loans, car loan and credit cards. However, I have 7 negative accounts, and here is the breakdown:

• 60 day late payment from 6 years ago.... challenging it via LL
• A private student loan that fell into collections (I was under the impression it was my parent's loan, but I have begun to pay it down) - $7000
• 1 charge-off with a $0 balance... challening via LL
• 1 collections account with a $0 balance.... challenging via LL
• Charge-off with $536 balance
• Charge-off with $658 balance
• Charge-off with $1207 balance

I am MORE than willing to pay off my charge-off accounts, but I haven't done so yet because I had heard that it wouldn't change my credit score (these balances aren't reflected in my credit utilization either). However, I am very interested in pay-for-deletion. Have any of you had luck with that? If so, what are your tips?

My current scores are:

Equifax:                  573

Transunion:           598

Experian:               591

My goal is to reach 700+ by the end of the year.... HELP!

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for the 60 days late from 6 years ago,  dont bother with it since it will fall off your report in a year or so.

PFD do work, u just need to call and be patience.  if one say no today, call again tmr, u only need one rep to say yes. 

[gdale6]

You do want to try PFD for those COs.  I also advise that if they are updating on a monthly basis and they refuse the PFD you still want to pay them to get the updating to stop so it can begin to age in Ficos eyes. Over time your score rises as derogs become older. There are many successful stories of PFDs and GW letters on this board and I would review some of the main threads we have on the subjects. Good luck in your credit journey and welcome to My Fico

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/...

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/td-p/4519

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Sto...