5 to 6 years...and no improvement on credit score!

[sparky2star]

Hello!

I have been on the website countless times and certainly have learned lots and implemented some of the knowledge gained from doing so.

Roughly, from 2013-2015, I had things go south for lack of a better word. Some things were paid off as well...

After 5-6 years there has been NO improvement. None. Every 6 months I pull my score...no improvement (from 520-540). I paid off at least 3 debts, maybe 4, this also did nothing. However, I did have a car taken back and maybe that's the reason? I don't know...I'm sure that is a big factor.

At this point, this knowledge is out of my wheelhouse and thought I'd reach out to the community.

Any applicable info or guidance would be tremendously appreciative!

Thank you.

[FireMedic1]

Where are you getting your scores from?

[sparky2star]

Thanks for replying.

Through this website (myfico) and I get all three reports - Experian, Equifax, and Transunion.

[FireMedic1]

Welcome BTW. Can you list out the baddies on your reports with age. CO's, lates, repos, anything. And what types of credit do you have now. Cards=Credit Lines/Balance. Loans=Original loan amount/Balances. Need more info. Blanket statements are hard to go by.

[sparky2star]

Thanks FireMedic for the response and welcome!

Roger that on the details. Honestly, I thought it would be more obvious since it's been so long with absolutely no improvement. The only thing that was really bad, imo, was the repossession of the car which was in 2015. That is the shortest of the bunch in terms of time. Everything is around 2013-2014.

Let me see what I can do!

[FireMedic1]

Excellent. The gang can help out once we know all the details thats affecting you. I'm easy. I'll never see 850 with a BK. LOL!!!!!!!!

[CreditInspired]

---

@FireMedic1 wrote:

Welcome BTW. Can you list out the baddies on your reports with age. CO's, lates, repos, anything. And what types of credit do you have now. Cards=Credit Lines/Balance. Loans=Original loan amount/Balances. Need more info. Blanket statements are hard to go by.

---

^^^^ this

Hi OP and welcome to myFICO

Also, Please go to www.annualcreditreport.com and pull your free reports, and go through them with a fine-tooth comb to make sure that there is nothing on there that shouldnt be on there. 

Sometimes when one sees no movement, there could be other things lurking:

*collections continuously updating

*a lien or judgement you missed or had forgotten about (my Fed tax judgment stayed on report for many years until the law passed in 2017 stating it had to be removed)

*a cable bill, utility bill, etc, you may have forgotten. 

*fraudulent charges

*outstanding fees not paid on a reposses vehicle. 

So you see, the list can go on and on. FireMedic is right--we need all of your 411 so to speak. 😆 Nothing can be assumed. 

Thanks and we'll help you figure it out 😉

[sparky2star]

Right.

Usually, after a couple of years, the credit improves. This has not been the case and I have paid off some accounts in full.

As of today, my credit score are these:

Equifax 521, Transunion 522, Experian 543

Repossession (car) - 8/2015 Charge off

Credit card - Debt $900 10/2014 Charge off 

Credit card - Debt $7000 10/2014 Charge off

Credit card - Debt $3000 10/2104 Charge off

Credit card - Debt $300  11/2014 Charge off (I actually paid this)

Credit card - Debt $2200  4/2013 Charge off

Collections for $7000 debt above (attorney)

Collections for $3000 debt above

Collections for $198.00 which I will pay.

So my question is "WHY" it hasn't improved one bit. That 520-540 score has been the same since 2015.

I have paid off three other debts that too did not improve the score. More than likely I will pay off the $900.00 debt. However, if these do not improve my score, frankly, there is no incentive to pay off the other debts, as 7 years will have passed by.

This is my confusion...

[CreditInspired]

Okay, thanks.

You may be getting rebucketed. Here is a link to understand what rebucketing mean. But the key is--don't give up. There is a light at the end of the tunnel.

https://rebuildcreditscores.com/fico-scorecard-buckets/

Also, others will come along to shed more insight on what is happening.

[sparky2star]

Hmmm. Rebucketed? That's a new one.

I'll check it out. Thanks!