Will I see the increase???

Anonymous · ‎08-20-2019

Good Morning

I’ve been working VERY hard at paying accounts. My Util is currently at 27% HOWEVER I just paid all my CC’s off. I have two cards that have a balance. 1) $18 & 2) $4. My total CL across all accounts is 7500. I also attacked a closed charged off Cap1 account. The balance is 827 i just paid $427 and the other 400 I plan to pay in two to three weeks.
After paying the first installment my total for all accounts will be $422. Will that create a score increase? And then once the 2nd payment is made will I see an additional increase?

After this is cleared up I have 5 baddies totaling $6900 I’m going to attack. I should be able to get rid of two possible 3 by the end of the year.

My goal is to get to 600 to 650 by Feb. Do you think this is possible? My current scores are

EQ - 564
TU- 569
EX - 565

Remedios · ‎08-20-2019

The act of paying COs wont raise your scores in itself. Once last negative is paid/settled, your scores will experience slow and gradual recovery because updates will stop.

There should be some points gained going from 27% aggregate utilization to below 9%, and also for bringing individual utilization down below 9%.

SouthJamaica · ‎08-20-2019

@Anonymous wrote:
Good Morning

I’ve been working VERY hard at paying accounts. My Util is currently at 27% HOWEVER I just paid all my CC’s off. I have two cards that have a balance. 1) $18 & 2) $4. My total CL across all accounts is 7500. I also attacked a closed charged off Cap1 account. The balance is 827 i just paid $427 and the other 400 I plan to pay in two to three weeks.
After paying the first installment my total for all accounts will be $422. Will that create a score increase? And then once the 2nd payment is made will I see an additional increase?

After this is cleared up I have 5 baddies totaling $6900 I’m going to attack. I should be able to get rid of two possible 3 by the end of the year.

My goal is to get to 600 to 650 by Feb. Do you think this is possible? My current scores are

EQ - 564
TU- 569
EX - 565

Yes it's definitely possible. I like your attitude