Trying to rebuild my credit without lowering my score any further

[Anonymous]

Hello everyone....This is a wonderful forum and I am hoping you can assist me with my issues. I need to increase my credit score in order to be approved for a mortgage. I was told my middle score was 533, but don't know how the LO came up with that number. She said she ran all three of my credit reports and took the "middle" number.  She says I need to get between 580-620.

I have one store credit card and student loans that are open on my CR in good standing for over a year. The bad part is I have 5 "potentially negative" on my CR. Two of them have been paid and have a zero balance but I know they will still remain on my report until 2013. I was wondering if I should contact the other three and make an arrangement to pay the balances? They are not coming after me and the last time they were reported was a year ago.

The other question I have is should I open a credit card with a small credit limit in order to increase my score? My student loan payments are deferred until this time next year and the only credit card I have is to a department store. I don't want to anything else to further lower my score, so I am seeking any advice that can help me. You guys seem very knowledgeable and informative. Thanking you in advance...

[Anonymous]

If you post your collections/bad accounts people could be more helpful. Just edit the account numbers for your privacy. You can do whats called a PFD (pay for delete). The bad accounts you can write goodwill letters.

[Anonymous]

OOPS, my bad, that's exactly what I did, switching between windows!!

Message Edited by WhatzUrPlan on 08-05-2008 09:13 PM

[Anonymous]

Who is reporting the 2 paid negative items, the OC or CA?

For the unpaid items, who is reporting those? What is the DOFD, DOLA, and SOL for those unpaid accounts?

Find SOL here -

http://www.bankrate.com/brm/news/cc/20040116b2.asp

[Anonymous]

Thanks for the Crown Jewelers tip, but I do not have custody of my sister and I am not trying to buy an Explorer. Maybe you replied to the wrong person???

[Anonymous]

@ sidewinder....The SOL is 6 years and it is the OC. They show it as paid even though I didn't pay the balance. All the 5 accounts are reporting as charged off/closed. The last date they have been reported was this time last year, and it states on my CR that the estimated date of removal is 2013...