I'm new to this board and after having read for a couple of solid days without finding a clear answer, here's my situation and request for advice. I'm going to be moving in a few months and would like to have the scores as high as possible by then. I went through a divorce a few years ago and of course my credit got trashed. I've been actively working since Jan 02 to clear it up and have been fairly successful so far except for 3 accounts (all 3 show up on EQ, TU, EX). These are all from the 1997-98 time frame and were paid collections. They're reflected as such on the CRA reports. I've been successful in removing several others by disputing using the online link at each CRA. For some reason I've been totally unsuccessful in removing these 3 though - they just come back verified. They are MBNA, Chase, BofA and all paid off if that makes a difference. Any suggestions on how to get these last 3 removed? I have two open revolving accounts with high balance ratios which are also negatively impacting my scores. I've got some cash available to pay down the balances but don't know if I'm better off keeping it in the bank to show reserves or reducing the revolving usage (currently 95%, I could reduce it to 75% easily). I've seen varying thoughts about how much it should be, but how much does reducing it partially help scores? My current scores are EX: 636, EQ: 672, TU FICO: 677. For some reason I've got a lot of inquiries on EX but only 3 each on EQ and TU which I assume explains the point spread. If I'm unsuccessful in making any more progress on my scores how will these look to a mortgage lender?
You might take a look at the nutcase series for the paid chargeoffs. I here most people say to get decent rate mortgages, your middle score has to be 620. You might just be OK.
Those are going to be fairly tough and may not be worth putting much effort into.[/quote]I have two open revolving accounts with high balance ratios which are also negatively impacting my scores. I've got some cash available to pay down the balances but don't know if I'm better off keeping it in the bank to show reserves or reducing the revolving usage (currently 95%, I could reduce it to 75% easily). I've seen varying thoughts about how much it should be, but how much does reducing it partially help scores? [/quote]It will help a lot but you really need to get them down a lot more than that. More like 10 or 20 percent or even zero. Obviously you are talking about having a fair amount of cash reserves on hand. I have a strategy that will help you build your credit a lot faster than paying them down will right now. The combo of the strategy and then after using the strategy should give you a major boost in your scores. I'm not going to post it because it is a bit lengthy and is a bit complicated but if you use it you should see a major jump in your point score with very little cost. I will gladly give it to you for free if you will send me an email. It's one of those tricks that was sold extensively many many years ago and it worked beautifly back then and still works today but is a bit harder to implement now because it is so successful. The name it was once sold under for big bucks was "How to get great credit in only 12 weeks." And no, I won't harvest your email to sell it to others and I will not attempt to sell you anything and I will never use it to contact you again for any reason.
I would like a copy of that report...That was sold a few years ago.....My email is bndpdler@yahoo.com
I never email anyone off any public message board. Send me an email and I'll gladly send it to you. The reason I won't just email it to you in this case it that if you send me an email requesting it all I have to do is file attach, hit send and it's on the way. Then I delete the email you sent asking me for it and its all done, neat and simple. But never the less I do have a personal policy that I never send email to anyone that has not contacted me previously.
