I need some help!!

[Anonymous]

We are working at getting my husbands credit score to 620... It is currently at 595...(We are trying to buy a house) Just this week I got Equifax to report 2 State Tax Lies and 1 County tax lien as Paid/released/dismissed... We checked the score on Tuesday and it was 595 I got this done on Wednesday they said to pull another report in 3 days and it should be corrected.. I understand today is Thursday so it may not be "updated" yet (although through this report I'm not seeing any unpaid tax liens so I think they are now reporting as paid) but, there's no score change... As of today I've got one of the creditors that is reporting a 30 day late payment to agree to take it off the report.. She did say this might take a couple of days...

My question is: Apparently having the 2 State Tax Liens and 1 County Tax Lien changed to paid/released/dismissed didn't change the score any... With the 1 30 day late being removed do you think that will give me the 25 points we need?

[crunching_numbers]

Usually the quickest way to up scores is to get your utilization percentage down below 10%. If you have any balances on your CC's, and can pay them down it will cause a big jump. I have also read here (have no personal experience) that even if you remove several judgements, the biggest hit is on the first one. So if there is even one left, ytou are still facing the biggest hit.

[bettercreditguy1]

Another big point increaser is the removal or drop off of collection accounts. I had one paid med pay collection. When it dropped, my TU score went up 28 points.

[Anonymous]

The only Negative things on his report now are 3 collection accounts (that the broker actually said not to touch right now because they are over 4yrs old) and a 30 day late in 3/11 (which is the one I said they are going to take off) another 30 day late in 12/10 (that I can't get them to take off) and a 120 day late (that was his ex-wife's in their divorce in 2005 - total account has been paid since 2007) ...  There is no revolving credit to pay down... He currently has 2 auto loans (truck & motorcycle) 1 unsecured personal loan and 1 secured personal loan... In all his payments are $800 a month and he made 74,000 last year...

[bettercreditguy1]

You may see a bump when the 120 day late falls off. Anything over 30 days seems to remain more detrimental to scores for a longer period of time, although all "lates" add up. You said the late was from 2007. Was it a med pay or other debt?

[Anonymous]

Ok looking at the "120 days late" was an installment loan they got (to cover medical expenses) and the "Last Past Due" date is: 12/06 the date it was opened is: 02/04... Like I said 1 of the 2 "30 day" lates is supposed to come off real soon (by the credit reporter - so it will be totally removed)

When you're looking for something to "drop off" what date do you go by? I've got dates of: Date Reported, Date Opened and Last Past Due - All of these are different dates...?

Do you think the removal of the 1 30 day late (which was reported 3/11 - most recent) should bump the score up the 25 points?

[thankfulheart]

As always, YMMV, but in my opinion, I don't see a single 30 day late giving that much of a point boost when there are 3 collections, 3 liens, and 120 late. The late will drop off 6.5-7 years after it actually happened, so a 12/06 late will fall off anywhere between 6/13-12/13 (in my experience, although the report should tell you when it is scheduled to drop off).

I had a lien come off completely and my score didn't budge.  I've had collections come off completely and my score moved a couple of points.  Those are major derogs and there still wasn't much gain from them individually.  

[Anonymous]

Ok.. New question... (Hopefully my last.. ha ha!)

I just got an e-mail telling me that TransUnion as finished the dispute I had filed... and I pulled up the report and everything is now reporting the way it should... So now I want to know what the score is.. But! I want the score that the mortgage company is getting (the last time I tried this there was a 22 point difference because of the scoring modules) The mortgage company is using the Fico Classic 04 module... Does anyone know where I can go to get the score using that scoring module?

[kjm79]

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@Anonymous wrote:

Ok.. New question... (Hopefully my last.. ha ha!)

I just got an e-mail telling me that TransUnion as finished the dispute I had filed... and I pulled up the report and everything is now reporting the way it should... So now I want to know what the score is.. But! I want the score that the mortgage company is getting (the last time I tried this there was a 22 point difference because of the scoring modules) The mortgage company is using the Fico Classic 04 module... Does anyone know where I can go to get the score using that scoring module?

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You'll have to go back to the lender to get the TU04.  Unfortunately you can't purchase that score. 

And just an fyi, when you have public records such as liens and judgments, the amount owed on those records doesn't really make a difference in your scores.  The score hit is from the record itself.  So when the liens you mentioned updated to paid but you didn't see an increase in score, that's why.  And then, the removal of one record will result in little to no score when there are multiple records.  Not until the last public record is gone will you see significant movement in the score.  Same with collections.  Paid or unpaid, a collection is a collection and your score is dinged because of the collection.  Not the amount owed. 

[Anonymous]

Just an update to this.. I just got an e-mail today and apparently his score did go up 9 points just by taking the 1 30 day off of the report.. So now we are at needing 16 points instead of 25.. YAY!! Hopefully some of these other things will start showing up this week..