I’m trying to decide on the best course of action to improve my credit score as quickly as possible.  Like everyone else, right?  Here’s a quick overview of my situation:  There are 14 accounts on my credit report, 10 of which have negative history on them for late payments and serious delinquency.

The good news is that my credit situation has drastically improved, and I have paid all of the account to zero balance except for one.  This same creditor (it was a credit union) has three accounts listed on my report.  I had two accounts with them – an auto loan and a credit line.  I’m not sure why the three accounts, but the one that shows a balance doesn’t even have an account number.  The balance is around $3500.  I should also note the date of last activity was July, 2006.

My question is what is the best advice on how to handle this account that would best affect my score quickly?  They haven’t tried to collect on this in over 4 years.  It doesn’t seem likely that they would start now.  But the balance of the account makes my revolving credit ratio appear to be 100% because all of my other accounts are zero balance and closed.  I have read about pay for delete letters.  Is that possible in this case?  If so, how much should I offer them for settlement?  Are there any better solutions?

As it stands, my credit score is 609.  I’m looking to purchase a house as soon as possible.  I need at least a 620 to get there.  Any thoughts on how long it would take to raise my score to 620?

John (more…)

I had a credit score of 583 and about $2300 worth of collections and negative things on my credit; 4 months ago i paid all of this off. Today i checked my credit, and it only went up 13 points to a 596. I have a mortgage that i have never been late on. Why didn’t it go up more? I need an auto loan & my bank won’t lend me the funds due to my score…! I need answers.

Jason (more…)

IS IT POSSIBLE TO IMPROVE MY CREDIT SCORE WITHOUT HAVING TO PAY BACK MONEY OWED TO CREDITORS

STEVEN (more…)

I currently do not have any credit cards. I have a very poor credit score of 574. Last month and this month I paid off about four accounts. I tried to negotiate a pay for delete but they said that they do not do that and made me think that I was crazy. They were all telling me things like that doesn’t exist or we can’t delete and account. They all said that all they could do is update it to show paid in full, and that would indicate a satisfactory account. Instead what has happened is it says Paid, was in collections and my score hasn’t increased at all. I have a terrible run of bad luck lately and I desperately need a car. I am trying to get my credit in order to be able to get a car at a reasonable APR. The thing is I need the car like yesterday.

I have about six more collections accounts to pay off. They all total about $2229.00. The one account that I have in good standing is an auto loan that I am currently still paying on because when the car was totaled I was upside down. That amount is $3973.00.

Where do I begin? What do I do first. I will have the auto loan paid off by 12/18/2009. Do you think that I will be able to get approved for a decent loan by January if I pay off the current loan and pay off all the other accounts? The problem that I am facing now is that places will finance me on used cars with high mileage for unreasonable prices at 24% APR. Please help me. I am lost.

Thank You,
Crystal (more…)

Hello Paul.

I have a question about the impact bankrupcy has on credit scores. I had filed chapter 7 in 2007 with a discharge in 2008. I went today for an auto loan and was told that my credit looked good, no debt, and timely loan payments. He said that he would guess by looking at my credit report I would have high 600 score but instead I have a 558.

I know that it hasnt been that long since I filed but I have paid off 2 loans since then and have one now, with timely payments being made, which is secured. I have known numerous people who have filed bankrupcy and within months they were getting car loans and even buying a house.

When do your scores go up? Why does it seem that mine is so low while others must be higher, given the same circumstances. I just dont understand. Will anyone help me rebuild my credit or will I just have to wait it out?

Thanks.
Marisa (more…)

What would you most like to accomplish AFTER rasing your credit score?

1. Just settle debt
2. The financial well being we used to have, and minimize the amount of debt we incur from here on out.
3. buy a home
4. refinance mortgage
5. Purchase a home
6. Purchase a home, we have medical bills with liens from long ago. over $6K worth. They are preventing me from getting a Habitat for Humanity Home.
7. purchase business
8. Purchase a home
9. Would like to start looking for a new car and eventually a house as well as being able to apply for lines of credit to have just in case a problem arises where I need emergency funds…ex: car repairs
10. get a home
11. Get a promotion
12. purchase home
13. mortgage my lease to purchase home with increased score.
14. Get a credit card to pay off the ATV loan that my exhusband defaulted on.  Then sell the ATV and pay towards the loan.
15. purchase new vehicle and home
16. Help others
17. Purchase a home
18. self esteem
19. in forclosure, need to save my home if possible. Am now sueing in state and federal court for fraud, etc.
20. buy a home
21. large purchases
22. Buying a home, having credit cards.
23. purchase a car and get some credit cards
24. purchase a home and a car
25. BUY HOME
26. I would want to accomplish buying a new house.
27. New home purchase…will have to short sale home (included in BK) soon, one year after discharge.
28. raise my credit score so that we can qualify for our new mortgage
29. Apply for a mortgage
30. Buy a house

And how about you?  What would you most like to accomplish after rasing your credit sccore?

Register for our FREE CREDIT REPAIR SEMINAR and…

Obtain a FREE CONSULTATION with Brian Aber of HTDI Financial (optional at your request).

I am currently living in a house that foreclosed this month. It is a nice four bedroom home I’ve been renting a little over a year now. I really like the house and would consider buying it but there are credit issues I’m working on to improve my credit score. Are their any non-conventional loans that would give me a loan. Recently, I went on the USDA web site and they offer loans to someone like me who wouldn’t qualify for a conventional loan, but nothing is said regarding credit. What do you suggest I do.
In deep thought about this.

Tarris (more…)

I have a CA Wachovia Option Arm loan that is at the million dollar mark, and valued in the low 800s.  I have been trying for 7 months to get better terms, mod with PR is my hope.  I have a steady job and good income and haven’t missed payments on CCs or mortgage in 30 years,  But this loan is slowly killing my financial foundation I have worked so hard to build up.  I am at a crossroads now.  Missed my prop tax, and things are getting tight. 

The Executive Offices of Wachovia told me they are only modifying loans that are 31 days late.  They said they are not suggesting to miss, but if I did, call back on day 31, and I would be modded. 

What happens to your credit score if I miss a few mortgage payments before this mod kicks in?  Does the mod also factor into my credit score?  The way my CCs have been squeezing me with balance reductions and cancelled accounts, does a credit score even mean anything anymore? 

I would appreciate your thoughts on this.

Dale (more…)

I am in the process of trying to fix my credit score.  At the moment its at 561.  I noticed that there is no mention of my cell phone or that I have been renting my apt for the past 14 years. Are these things suppose to be in my credit report?  Would this maybe help my score to go up?

Carmen (more…)

Would it hurt me if i pay off my credit cards in full each month?

Pietra