How much of a jump?

Feb 122011
 

I just cut down my total cc utilization on 2 cc’s down from 89% down to 36%. How much of point jump could I expect if I have one collection acount that is PIF from a year ago and no other bad credit.  10? 20? 30?

Settlement letter example?

Feb 012011
 

I’ve been looking all over the internet for a good settlement letter, but cannot seem to find one. I have one more ‘baddie’ on my CR and would like to settle it. I know that this forum suggests PIF, but I can’t afford to pay it now and would like to settle. 

 

The OC is Capital One. I would like to do it over the phone, but if I enter my account # on the phone it will direct the call directly to the CA which I’d like to avoid at this point. The CA is offering a settlement of 60% of the debt, but I should go through the OC, right? 

 

Anyway, I’d like to go for the best possible result, which would be settle for 60% off the total debt and having the tradeline read ‘Settled in Full’ with a $0 balance. 

 

Any advice? Letter examples?

 

Thanks

Utilization in correlation to CS

Jan 302011
 

Just wondering what kind of effect I would experience in my credit score if I pay down a big chunk of my credit cards. Right now I have one card with 500 limit with a $388 balance and a second card that has 1130 limit that has a 1069 balance on it. Not good I know. But for your information my cc with a limit of 1130 was 1800 just 2 months ago and I paid a big chunk of that and then cc company lowered my limit to 1130. 

 

Anyways I was planning on paying my $500 card down to $100 and my $1130 card down to $500. That would increase my total available balance from $176 to $1030. 

 

What kind of credit score increase would i be looking at typically?

 

CA sends letter on no longer on Credit Report

Jan 232011
 

Got a letter today that was from Total Card Inc on behalf of North Star Capital Aquisition for an account that I haven’t paid on since April 2004. It has actually rolled off my credit report.

 

I’m really trying to protect my credit now by doing the right thing but I don’t know what to do here.

 

Any thought?

How long will this take?

Jan 112011
 

Until last month my FICO score was 771, but then two things happened.  In late November I accepted a $2500.00 line of credit increase and then I got very near to the max limit on my other card.  Subsequently, my FICO score dropped to 743.  I use my credit card for everything, but I pay it off every month and the total amount of interest that I paid last year was only $7.00.  I have since learned to not use my credit card so liberally, even though I pay it off every month.  So, my question is as follows:  If I keep my credit utilization under 7% and do not accept any increases in my credit limit or open any new accounts…just how long will it take my score to get bumped back up?  I want to purchase a new house this summer and I want to get the best mortgage rate.  I thank you all in advance for any comments that you might have.

Debt Consolidation Options?

Jan 082011
 

I have quite a few debts (some ARE in collections) that need to be consolidated.

They consist of federal and private student loans, and collection accounts.

Including EVERYTHING I own, the total is $71,055

 

 

The biggest part is the federal and private student loans which equal out to $62,074

The other part of the debt is my car and my 2 credit cards which equals a measly $5,138

 

Unfortunately, my husband and I fell prey to a couple “predatory loans” when we really needed cash.

 

The complete amount that I have in collections is $3,843. (There are about an even amount of other debt and medical bills added into this.)

 

I’m seriously getting overwhelmed and would love to know how to start getting this down.

My husband has about the same amount of debt that I do, maybe a bit less.

We REALLY want to avoid bankruptsy.

Tax Levy – What will happen?

Dec 282010
 

I got a final notice CP 504 in the mail yesterday.  It says I have to pay the total balance in 10 days of a past due tax amount roughly 1900 dollars.  It says they may levy assets and file a federal tax lien if they haven’t already.  I called the number and they said I “probably” have some more time.  I CAN pay this on Friday.  What do I do?  Will this hit my credit?  It isn’t on there as of yet but I don’t want to get anything like this on my credit as it would be terrible.  What should I do? 

I need help! New to credit repair.

Sep 202010
 

My current EQ credit score is 494. I want to buy a home next year and need to boost my score to at least a 620 to qualify for a first time homebuyer assistance program. I just pulled my CR and found some adverse accounts. Since I am new to this and dont know which actions weigh best when it comes to your CS, I am asking you guys for your assistance.

 

Americredit- Charge Off, balance $15,866. Will be removed from CR 7/2013

Shoud I try to settle or just wait for it to fall off of my credit report? if settle, how much should i offer?

BoA- Closed by Creditor, past due 120 days, balance $3641, will be removed from CR 3/2017

Should I set up a payment plan to pay off the total, or settle? in either situation, theyve refused to remove negative info. and stated they’d send a 1099 if I settled. if settle, how much should i offer?

GEMB- Closed by Creditor, past due 120 days, balance $1709, will be removed from CR 3/2017

Should I set up a payment plan to pay off the total, or settle? if settle, how much should i offer?

GEMB/JCP-Closed by Creditor, past due 120 days, balance $2703 will be removed from CR 3/2017

Should I set up a payment plan to pay off the total, or settle? if settle, how much should i offer?

IC Systems Collections- Collection Agency, Balance $216, will be removed from CR 4/2015?

Should I just pay balance or sette? if settle, how much should i offer?

 

 

I know i am asking alot, so any information furnished is greatly appeciated!

 

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