It's at 20% right now, but I am going to make the payments all on time, and refinance after about 10-12 months. I am just so happy!! I still have the Ford Credit repo on my report, 2 years old. : ) I did get tons of stuff off the report, though! It used to show 2 repo's, but I got one off. THANK YOU SO VERY MUCH EVERYBODY!!!!!!!!!!!! Also, my Beacon score was 559. That is kinda low. Is there anyway to boost that within a year. The only other thing I have credit wise is a Capital One MC with $200. limit. I am still going to pay a couple of collections. Then I will have 2 PAID collections, 1 PAID chargeoff, and 1 repo. That and one account with a few 30 days, and 2 60 day lates, but paid account. All the collections and such are over 2 years old, and I am going to negotiate and try to get them off completely. Again, THANK YOU VERY MUCH! I couldn't have gotten this loan without this board! BTW: I got a 1999 Chevy Cavalier 4 door. My wife loves it! : ) Dustin : ) : ) : ) : ) : ) : ) : ) : ) : ) : ) : ) : ) : ) : ) : ) : ) : ) : ) : )
First off, congrats! I think, from what I've read on the board, is that you don't pay the collection THEN try to get them to remove it. A paid collection looks as bad as an unpaid one. And you have more leverage to have the things removed if you negotiate that with the settlement. It's hard to negotiate anything that's been paid because they have absolutely no incentive to remove it. I'm no expert, but maybe some of the veterans can advise you further.
Congratulations on the auto loan! As far as raising your score, paid collections or charge-offs don't do much to increase your score--you will need to get them completely removed from your reports. You might also want to dispute the late pays on your other account. Making timely payments on your car and the Cap 1 should help your score over the next 12 months as well. Best of luck, and enjoy your new ride!
