Posted on: 15th Mar, 2009 11:04 am
Hey
Let me get to the point. my credit score with Equifax is 560.
I have 3 installment loans, one I just payed off.
I have no revolving accounts anymore.
i have a good debt ratio standing.
I have a deragatory repay history old charged off debts some very small amounts and some as high as $1300.00 All of these I have paid off some just this month. I have a dismissed bankruptcy from 2001 .
I have a judjement from 2005 that has been paid but I just noted that it is not reporting as paid and I have called the lawyer 3 times since last April (almost a year agao).
HELP WHAT CAN I DO ?
TO HELP THIS SCORE IMPROVE SO I CAN BUY A HOUSE ?
SANDI
Let me get to the point. my credit score with Equifax is 560.
I have 3 installment loans, one I just payed off.
I have no revolving accounts anymore.
i have a good debt ratio standing.
I have a deragatory repay history old charged off debts some very small amounts and some as high as $1300.00 All of these I have paid off some just this month. I have a dismissed bankruptcy from 2001 .
I have a judjement from 2005 that has been paid but I just noted that it is not reporting as paid and I have called the lawyer 3 times since last April (almost a year agao).
HELP WHAT CAN I DO ?
TO HELP THIS SCORE IMPROVE SO I CAN BUY A HOUSE ?
SANDI
Hey!
Credit Score is certainly not a quick fix. But it's good that you have pai the debts. I think, you should convey any proofs and report the bank official for the particular disputed payments or refer the attorney.
Bankrupcy has to have some effect on the score. But a secured credit card can help you bit, there are people on this forumwho got helped with this. More, there are tips on how to repair your credit at the links on right side & bottom of this page. There are more options such as increasing your credit limits, assgning a good score person with your account etc. that are less time consuming also discussed in few of the threads in discussions header. But timely payment and good interactions with the banks are the long term survivors for you.
Credit Score is certainly not a quick fix. But it's good that you have pai the debts. I think, you should convey any proofs and report the bank official for the particular disputed payments or refer the attorney.
Bankrupcy has to have some effect on the score. But a secured credit card can help you bit, there are people on this forumwho got helped with this. More, there are tips on how to repair your credit at the links on right side & bottom of this page. There are more options such as increasing your credit limits, assgning a good score person with your account etc. that are less time consuming also discussed in few of the threads in discussions header. But timely payment and good interactions with the banks are the long term survivors for you.
Hi srklmak,
I agree with devidas that you did a right thing by paying off the derogatory items on your credit report. This will definitely have a positive effect on your credit report. However, it will take some time to improve your credit score. You can check out the following link in order to know how you can improve your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Thanks
I agree with devidas that you did a right thing by paying off the derogatory items on your credit report. This will definitely have a positive effect on your credit report. However, it will take some time to improve your credit score. You can check out the following link in order to know how you can improve your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Thanks
sandi, having no revolving accounts is a smart thing to do in general, but it can do you no good on improving your credit score. having a revolving account, or two, with decent credit limits and balances of zero or slightly more will work to improve the score faster than if you have none at all. i suggest you reinstate an account or obtain a new one and use it a few times before tucking it away, but not canceling it.
it will take a while, as others have said, because some of your actions are quite recent. it's going to take a while. be patient, and keep doing the right thing, and you'll see the improvement begin and continue.
it will take a while, as others have said, because some of your actions are quite recent. it's going to take a while. be patient, and keep doing the right thing, and you'll see the improvement begin and continue.
Hi sandi there is no such quick fix for credit score. Youve already dont what most would tell u , Pay off debt under 30% if not all. Expect results if you keep you debt under control. You can charge stuff but not alot and just pay the min payment. Credit history and Paying ur bills on time makes up over 50% of your score. Doing this and you will see results in a few months...
gary, i differ with you in your suggestion that she pay the minimum due. i always suggest minimal usage, as you did; but that the bill be paid in full every month so as to avoid interest costs. the credit reports the same way whether minimum payments are made or it's paid in full, so why waste the money if you don't have to...
other than that, we are in agreement.
other than that, we are in agreement.
Oh yes im sorry about that, yes you are correct on that part george sorry for the mistake. If possible always pay off the amount you charge at the end of the month. But charging something at least once a month is good, as of lately i have heard of companys either closing accounts with 0 balances or cards inactive or not being used. Which in both cases will hurt your score rather then improve. Thanks George for catching that one :)
that latter aspect of the credit card business is true, too. even though we don't need to use them every month, it's not a bad idea to use them periodically so they don't close them for inactivity. well put, gary.