Experian Score only 629 wont go up much if I pay everything off.

[Buildingalife]

So here is my whole life in a spreadsheet.  I have paid down my cc to 9% but they have not reported yet.  According to Experian.  If I pay all of my $7000 debt, my score only can go up 9 points.. so big ole 634.  How is this possible?  Can you guys give me some tips to help me get to at least 740, if that is possible with a chapter 7 showing.   Oh... my AAoA is 2.4 years. Thanks.

Filed Chapter 7 in 4/2013
1 paid medical collection that they are removing in the next couple of days
5 Baddies with Student Loans  ---All other accounts never late… well Verizon issue
90	1-Jan	2018
120	18-Feb	2018
90	18-Sep	2018
90	17-Apr	2017
120	17-May	2017
10 Inquiries
Opened	Type	Vendor	Limit	Balance on Experian	Current Balance with Bank	Next Reporting Date
18-Jul	Cable/Closed	Verizon		757	All Red markes in payment history		Gotta call abou this…didn’t realize it existed.. Wasn’t in collections.  I tried the service for 30 and then returned their equipement.
18-Mar	Car	Cap 1	21000	8727	7900	not sure	t see it here as it is not listed in collections.
17-May	CC	Barclays	1500	1208		1/9/2021	paid down to 9% not reflected yet
17-Sep	cc	Capital One	3950	3300	160	1/8/2021	paid down to 9% not reflected yet
16-Oct	cc	Capital One 2750	2750	1221		1/23/2021	paid down to 9% not reflected yet
20-Jan	CC	Discover	1500	1244		1/16/2021	paid down to 9% not reflected yet
19-Jun	CC	genisis	2000	0	0
17-Feb	SC	Macys	2000	0	160	1/11/2021	paid down to 9%
20-Jan	SC	Fingerhut	600	0
20-Jan	Loan	Upgade	14000	10700	10,300
28-Feb	Loan	Affirm	2500	PID  7/20 - Now Closed
12/20/2021	Loan	upstart	4200	4200	4200
	Loan	Fed Loan - Student	100,000	1020000	1020000		Havent paid been in years school and in forebearance
Fico 8	629		All account are pretty consistent across the 3 bureaus.

[Anonymous]

I'm confused regarding your utilization.  In your post you referenced $7k in revolving debt, but looking at your chart it appears to be more like $15k when looking at your reported balances.  Maybe you've paid that ~$15k down to ~$7k and those balances haven't reported yet and you're asking about paying down the remaining $7k?  Maybe you can clarify that.

You appear to have somewhere in the neighborhood of $35k in overall limits, so on $15k in debt maybe 42%-43% utilization.  Taking that down to $7k would drop utilization to 20% or so and if you were to take it down to $3000 or so you'd land below 10% utilization and be in an ideal place. 

A revolving debt drop from 42% utilization to ideal would be "worth" much more than 9 points.  I'm also seeing multiple cards at > 80% utilization, so that's hurting you as well.  Lowering your aggregate utilization multiple tiers, individual utilization many tiers and producing more zero-balance accounts all together will result in some nice score gains.  My guess would be that you could gain somewhere around 50 points for significant revolving debt paydown. 

[BallBounces]

I can not make any sense of your chart.

Does it indicate you have several 90 and 120 day lates in the last 3-4 years?

A FICO score is much more than AZEO or UT < 9%.

[Anonymous]

OP, please provide us with some more information based on the questions posed to you above and we should be able to help you more.

[Anonymous]

---

@Buildingalife wrote:

So here is my whole life in a spreadsheet.  I have paid down my cc to 9% but they have not reported yet.  According to Experian.  If I pay all of my $7000 debt, my score only can go up 9 points.. so big ole 634.  How is this possible?  Can you guys give me some tips to help me get to at least 740, if that is possible with a chapter 7 showing.   Oh... my AAoA is 2.4 years. Thanks.

Filed Chapter 7 in 4/2013
1 paid medical collection that they are removing in the next couple of days
5 Baddies with Student Loans  ---All other accounts never late… well Verizon issue
90	1-Jan	2018
120	18-Feb	2018
90	18-Sep	2018
90	17-Apr	2017
120	17-May	2017
10 Inquiries
Opened	Type	Vendor	Limit	Balance on Experian	Current Balance with Bank	Next Reporting Date
18-Jul	Cable/Closed	Verizon		757	All Red markes in payment history		Gotta call abou this…didn’t realize it existed.. Wasn’t in collections.  I tried the service for 30 and then returned their equipement.
18-Mar	Car	Cap 1	21000	8727	7900	not sure	t see it here as it is not listed in collections.
17-May	CC	Barclays	1500	1208		1/9/2021	paid down to 9% not reflected yet
17-Sep	cc	Capital One	3950	3300	160	1/8/2021	paid down to 9% not reflected yet
16-Oct	cc	Capital One 2750	2750	1221		1/23/2021	paid down to 9% not reflected yet
20-Jan	CC	Discover	1500	1244		1/16/2021	paid down to 9% not reflected yet
19-Jun	CC	genisis	2000	0	0
17-Feb	SC	Macys	2000	0	160	1/11/2021	paid down to 9%
20-Jan	SC	Fingerhut	600	0
20-Jan	Loan	Upgade	14000	10700	10,300
28-Feb	Loan	Affirm	2500	PID  7/20 - Now Closed
12/20/2021	Loan	upstart	4200	4200	4200
	Loan	Fed Loan - Student	100,000	1020000	1020000		Havent paid been in years school and in forebearance
Fico 8	629		All account are pretty consistent across the 3 bureaus.

---

I would discard simulators, but as a note, if you put down to pay all debt, EX will build in the "all zero" penalty into the score it spits out. Again, do not take anything they give you as a solid number, but if you put in just a little less than the full amaount of debt owed, you should see a large difference score wise than from when you put in the entire balance for a payoff.

Also, if you are saying you have a lot of 90d/120d lates, those are going to hurt for a long time. They are also all within the last 2-3 years, so they are still fairly fresh, and that will hurt your scores from climbing high no matter how much you pay on your debts, and especially in conjunction with a BK.

[BallBounces]

---

@Anonymous wrote:

OP, please provide us with some more information based on the questions posed to you above and we should be able to help you more.

---

Yes @Buildingalife , come back to continue the dialog here and clarify.  You have some good helpers...

[Buildingalife]

Hi... sorry about the confusion.

I tried to paste the chart from Excel as a picture.  Hope this is better

EX is reporting $7000 worth of credit balances.  My 7 accounts have never been late.  After Jan reporting… all will be zero except.. Barclays- balance $114 the first Cap 1 will have $160 due. 

Open   Type       Vendor          Limit            Balance on Ex   Next Reporting Date

17-May    CC     Barclays          1500            1208                 1-9-21
17-Sep     cc      Capital One       3950            3300                1-8-21
16-Oct     cc      Capital One     2750             2750                 1-23-21
20-Jan     CC     Discover         1500             1244                  1-16-21
19-Jun     CC     Genesis            2000               0  
17-Feb     SC     Macys             2000                0 
20-Jan     SC     Fingerhut          600                 0

Loans 

18-Mar    Car     Cap 1           21000             8727           
20 - Jan    Loan  Upgrade       14000           10300
20-Dec    Loan  Upstart          4200              4200 4200

20-Feb     Loan  Affirm          2500 PIF 7/20 - Now Closed
Loan      Fed Loan - Student       100,000      1020000      Haven’t paid been in years. I am still in school so deferred.

Student Loans reported late:90 days, 120 days (I thought they were in forbearance.. but it was put in after)

90    1-Jan 2018
120 18-Feb 2018
90   18-Sep 2018
90   17-Apr 2017
120 17-May 2017

• Filed Chapter 7 in 4/2013
• 1 paid medical collection that they are removing in the next couple of day
• 10 Inquiries

Open/Late account… disputing.
18-Jul   Cable/Closed Verizon 757 All Red mark in payment history

Gotta call about this…didn’t realize it existed. Wasn’t showing in collections area. I tried the service for 30 and then returned their equipment… but returned it late.

 Fico 8 629 All account are pretty consistent across the 3 bureaus.

[Anonymous]

So then utilization wise you're going to be near ideal with low single-digit aggregate utilization.  In addition to that you've taken multiple near maxed out accounts down to zero balances.  My guess is that your score gains will be quite substantial, I figure at least 25-30 points from an aggregate utilization threshold crossing, several individual utilization threshold crossings and reduced number of accounts with a balance.  I think the 8 point gain or whatever that simulator is suggesting is way bogus.

[Buildingalife]

Ok. A few accounts should update this week.  I'll see what the progress is and will keep you guys posted.  Thanks