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New to Message Board - Need Help Increasing Credit Score

New Visitor

New to Message Board - Need Help Increasing Credit Score

I must say this message board has a great deal of information and can be overwhelming for someone just starting.  But I am determined to improve my credit score.  First thing I would like to say is my report reflects so many different things I don't know where to begin.  I fell on hard times and had a period when I was behind on various almost everything that would effect my report.  I am now in an excellent financial place and back on track.  My approach was to just pay everything I owed on my report.  However, that has not provided any increase in my score.  I also was trying to put myself in a postion to purchase a home and lenders looked at my report and all had the same advice "continue to pay things off on your report".  That I did, and again no improvement! 
I have many collection accounts and charge-off's and I know that is going to be there for a while.  I wish I knew about this forum when paying thing off.  I would have requested a PFD instead of just asking them to update the reporting agencies that the account has been paid.
First of many issues...
I paid a settlement to Capital One on a card that was reproting a charged off status .  My report now says current status is CHARGE-OFF, but in the comments field it says Settlement accepted on this account.  Should the current status reflect paid?  How does a senerio like this effect my score?  I know this is a lot of info for a new visiter but...... I NEED HELP..
Message 1 of 2
Moderator Emeritus

Re: New to Message Board - Need Help Increasing Credit Score

Welcome... The first thing you should do is read the Credit Scoring 101 thread and dispute inaccuracies son your reports.
Try a GW letter for any paid collections or charge offs.
Message 2 of 2