Hello everyone, I am a newbie to this board and the whole fico score saga, if you will, and I need some help. I am in credit recovery mode and need to understand the process so that I can help bring my score up.
For starters, i have always had great credit until this past year when I went delinquent on 6 credit card accounts from Dec/Jan to June, 2007. In June of this year I was able to settle with 5 of them and thus paid off the settlement amounts in this month (Aug 2007). Altogether I was able to pay 19k on my delinquent debt. The 6th card (Citibank) I thought I had made good with by agreeing to pay them 10k of a 25k balance and then pay subsequent payments of 330 each month thereafter, but this morning I saw that they still reported my account as an R9. They told me this would not happen and now I am worried about what this is going to do with my FICO score. Here I was feeling really good that I was able to settle and pay off whatever I could and then I get hit with this.
My Equifax score is currently 517. I dont' know my TU or EX scores yet. I was going to pull those after this month's update. Before I knew this R9 account was going to hit my credit report I went to the fico simulator and plugged in the 19k payoff to my delinquent balances and it gave me a simulated score of 577-627.
Can anyone tell me what I can expect to happen with this month's update and how I can move forward from this point.