Shouldn’t my score increase?

Mar 162011
 

I had a collection on my account from National Recovery Agency.  When I called them, they said they no longer serviced the account and wouldn’t even tell me who the OC was.  I asked them to provide this in writing, but they refused.  So, I promptly disputed the collection through the CRA.  I got notice yesterday that the results had come back and that the account would be delted from my credit report.  Very exciting!

 

I pulled a  new copy of my report and noticed that they had in fact been delted.  Very, very exciting!  However, my score hasn’t changed at all.  Wouldn’t it increase since a negative remark has been removed completely?

How much of a score increase

Feb 272011
 

I have the following reporting across all three reports

 

Child support (Collection Acct $500.00)

Asset Acceptance- $634.00 open account factoring

Wood LAw PC $101.00 open Collection

3 max out credit Cards $300.00 limit

 

If I have the the Child support, wood law pc and the asset acceptance removed. and paid off all the balance on the maxed out cards to $1.00 what would my score be. Right now I have like a 580ish on Transunion and 582 on equifax.

Wait.. how did THAT happen? [Removal of CA from CR]

Feb 262011
 

Hi again all,

 

I apologize for the necessary creation of a screenname. I contacted support for assistance, but unfortunately those requests were to no avail.

 

Anyway,

 

I wanted to report an odd situation that arose this morning.  Last week I sent off a settlement proposal to the one other office that holds a CA for me.  After offering the same letter to the agency I mentioned previously and receiving quick response I asssumed the agency I’m now speaking of didn’t accept or acknowledge my letter.

 

So anyway, I was updating my CreditKarma account today and notice a rise in my score, thus affecting both my Transunion score as well as my VantageScore.

 

I offered them a settlement and that if they so agreed that they had to remove any derogatory information pertaining to the account. Now after seeing an increase of 5 pts to Transunion I reviewed the dispute resolution within Experian’s site to see what could have made this occur.

 

….The CA account had been REMOVED from my report. What do y’all think that means?

 

- Is it the possibility that they, in good faith, preemptively removed the CA prior to me even sending them payment?

- Could the CA have been sent to another collection agency?

- What if they forwarded the settlement proposal to the original creditor for review?

 

I just do not know what it means, I’m very elated to see this score increase, but unsure as to why the CA was removed.  Thanks for any insight! :D

Unrealistic Expectations?

Jan 232011
 

Is it an unrealistic notion to attempt a 100 point FICO score increase within 12 months with the following plan of action?

I was thinking about opening 2 secured credit cards (so that they don’t do a hard inquiry) in addition to paying off all my collections.

There is an outstanding balance of about 200 dollars on a small personal loan I took out in order to bump up my credit (all payments have been made on time).  It will be paid in full in about a month and a half.

Also, if I successfully manage to have creditors delete negative information from my credit reports after I pay the outstanding balances in full, will this actually result in a credit score increase?  Or is it only good in that the derogatory information won’t show?  I have done some reading on this subject and haven’t gotten a definitive answer.

Please advise.

Thanks in advance!

:smileyhappy:

 

Credit score increase following paydown of credit card balances

Jan 102011
 

I am preparing to refinance my home. I want to increase my credit score, and recently paid down substantial credit card balances to lower my debt-to-credit ratio. Does anyone know how long it takes for this to be reflected in my credit score? Also, are there any ways of expediting this process (e.g., contacting credit card companies directly, writing to credit reporting bureaus)? Any help would be appreciated!

Hello everyone! Fico increase!

Jan 072011
 

Hi all! I havent posted in a while-but I did want to post a score increase today and tell you all to keep going with gettin your score up there! Here is a time line from where my hubby started to now:

September 04, 2010: Fico 578

January 6, 2011: Fico 683

 Last collection was taken off today and boosted his equifax over 50 points! Keep up all the hard work. It can be done!!!

Is 6 months unrealistic

Dec 062010
 

Hi Everyone,

 

I finally bounced back from the depths of recession and got a stable job to be able to pay my debts. Here is the question/goal at hand.

 

I have had almost everything except my credit cards, student loans, and installment loans get charged off due to unemployment and hardship due to a divorce proceeding that ended in reconciliation.

 

Long story short, my credit cards are paid on time but are at high balances, my student loans are on deferement, my installment loans have had several lates over the past 2 years but have payments at least every two months until recently.

 

Currently with my new salary I have $1,200 in discretionary funds every month left over . FINALLY I am in the position to pay off the installment loans in about 3 months, credit cards the same. How do I handle my charge offs? I would like to see my score bounce back and be able to buy a house next summer. We were referred to a credit fixer by my credit union, but there is nothing to fix, it is all legitamate stuff.

 

I am honestly seeking your advice on how to maintain a score increase if I will no longer have any open debt. I am in a hurry to pay my installment loans because I have 13 actual months left, but contractually, I should have them paid off by Feb 2011.  Hub and I are dangling at low 400s. :smileysad:

New To Board Need to Rebuild To Buy Home March 2011

Nov 062010
 

New to the board and newly committed to rebuilding my credit.

 

I have several credit issues I am on track to resolving. The major ones have been student loans. I recently got all of my loans back on a current payment status.

 

I have 3 collection accounts totaling about $200. I plan on paying these off.

 

What kind of score increase can I reasonably expect between now and January? Assuming I pay off the collection accounts and keep the student loans current?

 

I have been reading the boards and noticed that 620 seems to be the lowest score to secure a mortgage. I don’t have any open credit cards, auto loans, or store cards. (I can’t get approved for any)

 

Experian – 575

Transunion – 587

Equifax – 579

 

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