Surprisingly, your credit score may actually go down. Usually the changes will take a month to be completely seen as different creditors report at different times.
Go down it will!!!! I paid off all of my unsecure debt and my score dropped from right at 700 to 498!!! A few days later it came back up to like 519 or somewhere around there. Talk about pissed off!! Whatever you do DO NOT close your accounts if you pay stuff off, learn from my mistake! Hopefully it will come back up here shortly but who knows!
The other replies are correct - Do NOT pay off your debt.!!!! And do not close any credit accounts.
The best position to be in is to carry a balance below 50% of your credit limits - ideal is 35%. Use your major credit card regularly, and make more then the monthly min payment each month. NEVER be late on a payment. Most of your credit should be major creditcards as opposed to store cards ie Sears, Home Depot, etc. Also, do not apply for new credit as each inquiry lowers your score.
Over time you should see your score improve.
You will lower your score if you pay off & close accounts!! High scores go to those that have credit & use it wisely.
How are you getting the scores from Transunion. Free Report or paid request or what. I was just asking if it was from your free yearly? Three companies can give you three results. Also is your lender just getting the score in the name spelt one way? Try EXPERIAN, EQUIFAX, as well as TRANSUNION.
You need to pull all three reports from all three agencies. Also, request your credit score for each report. Challenge evey item that is incorrect on your report. One item at a time. Send all challenges by certified mail with a return receipt. The abecies have 45 days to reply, investigate and remove each item. It takes time but it works.
Or you can go to a repair type company and they will do all the work for a fee.
I am a LO and I have been told that depending on what you are trying to buy, i.e., appliances, car, mortgage, line of credit ect. the score will be different. I had a problem where I needed a 650 with Experian to get a line of credit, I pulled my credit and Experian was 685, First Horizon, whom I was applying with pulled the credit 2 days later and Experian reported 623 to them. Go figure, there otta be a law///////////
Surprisingly, your credit score may actually go down. Usually the changes will take a month to be completely seen as different creditors report at different times.
Visit http://www.creditboards/forums which is an excellent forum for credit repair.
thanks ,do you think it will take 1 year or so to go to 650 or so
Go down it will!!!! I paid off all of my unsecure debt and my score dropped from right at 700 to 498!!! A few days later it came back up to like 519 or somewhere around there. Talk about pissed off!! Whatever you do DO NOT close your accounts if you pay stuff off, learn from my mistake! Hopefully it will come back up here shortly but who knows!
-Sly
The other replies are correct - Do NOT pay off your debt.!!!! And do not close any credit accounts.
The best position to be in is to carry a balance below 50% of your credit limits - ideal is 35%. Use your major credit card regularly, and make more then the monthly min payment each month. NEVER be late on a payment. Most of your credit should be major creditcards as opposed to store cards ie Sears, Home Depot, etc. Also, do not apply for new credit as each inquiry lowers your score.
Over time you should see your score improve.
You will lower your score if you pay off & close accounts!! High scores go to those that have credit & use it wisely.
i must say that all my credit is past due about 180 days does that change anything
Pay bills on time or before time. This is key to good credit score.
Help please.
How are you getting the scores from Transunion. Free Report or paid request or what. I was just asking if it was from your free yearly? Three companies can give you three results. Also is your lender just getting the score in the name spelt one way? Try EXPERIAN, EQUIFAX, as well as TRANSUNION.
www.annualcreditreport.com or call 1-877-322-8228
You need to pull all three reports from all three agencies. Also, request your credit score for each report. Challenge evey item that is incorrect on your report. One item at a time. Send all challenges by certified mail with a return receipt. The abecies have 45 days to reply, investigate and remove each item. It takes time but it works.
Or you can go to a repair type company and they will do all the work for a fee.
Hope this helps.
you should have waited 12 monthes they will give refund
You are right you can write all the letters yourself. The key to getting items removed is timing and being consistant.
I have heard bad reports from clients who have used LL. Try them you may like them.
The source was First American Credico, which is used by a big majority of the lenders.
It may be that you score from all three is 725 combined. Have you had your broker pull all three reports to get an average score?
I am a LO and I have been told that depending on what you are trying to buy, i.e., appliances, car, mortgage, line of credit ect. the score will be different. I had a problem where I needed a 650 with Experian to get a line of credit, I pulled my credit and Experian was 685, First Horizon, whom I was applying with pulled the credit 2 days later and Experian reported 623 to them. Go figure, there otta be a law///////////