Have $7000 In Debt But...
I can pay it all off. Sold my house, was rejected for a mortgage for the next house and had no choice but to find a rental property because my average score was 560.
My question is, what is the best approach to start fixing up my credit score? and how long does it usually take the score to be close to 700?
Have you pulled a credit report and made sure everything is correct? I did and found several mistakes. I corrected them and went from a 575 to a 650 in a matter of weeks.
yes, i have pulled a credit report and everything seems to be correct. I have couple credit card late payments, utility late payment, collection for parking and high balances on the credit card which was affecting my score.
After I pay them all off, do I have to write a letter to experian, transunion and equifax to have the score raised more quickly or should I just leave it alone?
After you paid it off and have proof of it in writing, send in the disputes - collection agencies are notorious for updating the collections until they get paid, and then forget about it. You could have a collection on your account still showing as unpaid, even though you paid it off months if not years ago.
So yes, take the time to update it yourself after you got the documentation showing it settled in full.
vasiliy
Quote:
On 2005-06-14 09:06, choongie wrote:
yes, i have pulled a credit report and everything seems to be correct. I have couple credit card late payments, utility late payment, collection for parking and high balances on the credit card which was affecting my score.
After I pay them all off, do I have to write a letter to experian, transunion and equifax to have the score raised more quickly or should I just leave it alone?
www.myfico.com