My credit repair process has made some progress (low 500s to mid 600s), but I haven't been able to break 700 yet and I'm not too sure why. Here's a summary of good and bad: Good: Low balance to credit limit ratio (6%) 1 year old car loan, paid on time every month 3 year old authorized user card, never late 2 x 8 year old authorized user card, never late 2 year old credit card (not authorized user), never late, $500 balance $1100 limit handful of 8 year old cards that were reported stolen 3 year old student loan, never late Bad: Verizon chargeoff of $440, 2 years old 2 year old paid collection - utility - $130 2 x 4 year old paid collection for student loans (Citibank) 8 year old student loan showing lots of lates The 8 year old student loan has been rehabed, and is supposed to change to paid/never late within the next 30 days. The other paid collection student loans I'm willing to live with, don't believe there is anything I can do. I tried a "I'll send you the full amount if you agree to delete the tradeline" with the Verizon chargeoff, never got a response. My scores are 614 (TU), 626 (EQ), 653 (EX). Does this seem reasonable? Seems like all I can do to improve is the Verizon chargeoff and perhaps try to get the paid collection deleted.
Right now the Charge Offs are hurting you. If you haven't already done so, you should start the "validation letter process" with the Verizon collection item. There may be a chance if you pursue Verizon hard enough, that they will remove it. I did this with Verizon Wireless, and I went three rounds with them, finally I "drew the foul" on them with FCRA mistakes, and got them to agree to remove the item. I would make some argument about the bill, or payment was sent, etc.. Then I would "concede" to pay it, IF they will NOT report it (or remove the tradeline). If you talk to the student loan lenders enough, I bet you can negotiate better reporting. Again, know the FCRA inside and out, if you press hard enough they will make a mistake somewhere that you can use as leverage for removal. Take the items one at a time; focus on each one until removed, or "upgraded" until you are certain there is nothing else you can do. ABove all, be patient and persistent; follow the process, it will work.
You'll notice an increase once your student loans are rehabbed. Paying your credit card down (the one with the $1100 balance) will also help. I'd dispute the older payed chargeoffs as "not mine", it can't hurt to try. I would also send another PFD letter to Verizon, or whatever CA they are using.
"Other than reaching the 700 club, do you have any specific goals with trying to imrove your scores??" Amen Sister, Amen. That's exactly what I have been arguing in two new posts today and yesterday. I cannot help but believe that all the time and energy people on this site are expending trying to reach the vaunted "700 club" could not be better used learning to become more aggressive and knowledgeable borrowers, and selecting more creative and aggressive lenders, particularly getting to know your credit union loan officers on a first name basis, sending them cards on their birthday, writing nice letters of appreciation when they give you very nice loans notwithstanding your abysmal scores and recent BK. In the end analysis, I think low FICO scores can be easily worked around and high FICO scores can just as easily be misused to screw the borrower.
