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I need help fast with getting my score up can anyone help.

New Visitor

I need help fast with getting my score up can anyone help.

So far i am paying my capital one off which has a 300 limit
paying   omni military loan which is an note loan for 5000 which current balance is 2000
paying paypal which has 200 dollar limit.
i have a car loan that was 20000 but is at 12000 now never late.
my FICO score is currently at 581.  I need it atleast 650
All these items will be paid.  In the last three years i have not been late at all.  What can i do to raise my score.  I have a 77 collection with comast which i paid in full and i have a 700 sprint collection which i paid in full.  I have a new collection that i have not paid which is 400 dollars its my exwife had but current wife at the time of the account.   but since i lived in washington and its community property state its now my bill also.  I never agreed to this bill at all.  i have around 18 late payments total on my report but they all were from 3 years or more ago.  Can anyone help me with what i can do to get these late payments deleted or something.  I am in the military and alot were the cause of not have access to the internet to pay the bill.  please someone help me.  I have the best of intentions now and i will continue this way.  I have came a long way in the military ranks now and make good money but i need my score up to buy a house.  please email me at edited if you can help me.
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Message Edited by Tuscani on 07-30-2007 08:16 AM
Message 1 of 4
Established Member

Re: I need help fast with getting my score up can anyone help.

I'd write GW letter for the items you have paid in full. You can look under the frequently asked questions section of this board and you will find a link that will show you examples of good GW letter....just use those as guidance. Make sure you letter is written specifically for your situation. I had one collection on my report that I paid in full as well and the GW letter worked for me and I am so happy since that was the only negative thing on my reports. So give the GW letter a try. For the items in collection that you have not paid I'm not sure what you can do about those. Perhaps you can use a PFD (pay for delete) for that one. I think you would still have to pay the bill and also pay an additional $25.00 in 'good faith' money to have item deleted..... but I'm not sure. I'm fairly new here so I'm not too familiar with how PFD works but there is a link somewhere that will show you examples of a PFD letter. The negative/collection items are really hurting your score so once those are cleared up/removed hopefully you will see an improvement in your score--significant improvement. Also, it's a good idea to pay your cards off but still use them each month to make tiny purchases. Charge a tank of gas a month (read that here) or a case of soda. Just keep the cards active because not using them can hurt you too. HTH. There are many helpful people here who can probably give you more advice or better advice. Hope all works out for you.
Message 2 of 4
New Member

Re: I need help fast with getting my score up can anyone help.

I think your credit to debt ratio is too high.  You said you were paying off your Cap One, so I did not include that in my calculations, nor did I include the paypal since you said your paying.  Hopefully you're paying them off, since it has a low credit limit.
If you just take your Omni with a bal of 2000, and your car loan with a bal of 12000 that is a bal of 14000 debt, but your total credit limit is 25, 500.  With a debt bal. of 14000 let's say, that puts your credit utilization roughly at 55% which is high utilization.  Try to pay this down to at least 30%.  This would bring your score up also.  Low utilization is considered in the FICO scoring.  25% would be a debt bal. of 7650 of your bal due.  Even 25% would be better. 
This is the only thing that I see, unless you can be approved for some credit with high limits that would increase your credit limit ratio, which would automatically lower your debt to credit ratio.
Message 3 of 4
Moderator Emeritus

Re: I need help fast with getting my score up can anyone help.

Message 4 of 4