OP,
IMHO & FWIW, I would pay off those 3 collection accounts first. Contact them b4hand to see if you can get a PFD. If so than that’s great; if not then you should get a score bump from them reporting paid especially since the 2018 hasn’t aged much and is likely still causing a bit of hurt. Next I’d start to work in those cell phone accounts in the same manner. Good luck
IMHO & FWIW, I would pay off those 3 collection accounts first. Contact them b4hand to see if you can get a PFD. If so than that’s great; if not then you should get a score bump from them reporting paid especially since the 2018 hasn’t aged much and is likely still causing a bit of hurt. Next I’d start to work in those cell phone accounts in the same manner. Good luck
You say 2 collections are new, if they are more than 100 then they are the ones hitting your Fico 8 scores and if they update monthly they will keep your Fico depressed as they are interpreted as new even though they may have been years old. Anything under 100 in Fico 8 isnt factored in and is considered a nusiance collection. 30 day lates tend to hold down Fico for 2 years but some can affect the entire time on file, anything over 30 is going to cause a Fico dip the entire time on file. I would still take out those 3 medicals, these are pretty easy to get removed.
For unpaid medical debt that is reporting on your CR:
1. Call the OC and see if insurance can be billed, if not then
2. see if you qualify for Charity Care, if not then
3. ask that they recall the collection in exchange for full payment
4. Send the reporting CA a PFD offer
5. Google the HIPAA Process and contact its creator for help
@Anonymous wrote:
I've done a lot of work recently to improve my scores and I'm happy to have raised them about 60 points, but I'm confused as to what to do next. My eq is 657, trans 693, ex 679. All from Myfico. I have 5 collection accounts, 3 of which are medical and small. 2 of the medical are from 01/18 and total $166. The other is from 4/14 and is $48. My 2 big collections are (no judging) from 2 cell phone companies. $3000 and $2000 respectively. The $3000 I disputed because its legitimately not my responsibility but my dispute was declined. No proof. They are both from 4/2015. I also have $66,000 in student loan debt which is reporting as 12 different accounts. Its currently deferred but not for much longer. I have 2 negative accounts showing on my profile. One is FMC auto loan from 2004 that was finally paid off in 2013. I have a pretty rough payment history with them but it's been paid off since 2/2013 and only a couple negative payments show. All reports show the open date of this loan but no close date, so I'm not sure if that's right. The other account is my target card. I had 3 consecutive months in 2015 where I was 30 days late. Other than that all payment history is great. Payment history shows as very good 99%.
All 3 bureaus are pretty consistent showing 4% uti, aaoa 3 years 8 months, oldest account 15 years, most recent account 2 months.
I'm looking for any advise as to steps to take next, but a couple specific questions I have are about my collections. My 3 medical collections are small, so payment isn't an issue, but will it help?
Pay them off
The larger ones are more difficult to pay, but they are so new that I don't know whether to wait them out or what other option I have.
Pay them off
Also, are the student loans more negative or positive?
They're not what's hurting you, it's all the many negatives in your file that are hurting you. I've colored those red above.
Thanks for any advise
