Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

Need Help Fast

Date: Fri, 06/12/2009 - 15:55

Submitted by davidsmeridian00
on Fri, 06/12/2009 - 15:55

Posts: 72 Credits: [Donate]

Total Replies: 3


Hello I am 28 years old and i will be buying my first house in the next 8 months i hope. I have been working on my credit for the last 4 months by opening an installment loan,credit card,merchant card. All of these accounts have been paid each month and in good standing. I have some collections on my credit that i was unable to get removed. I have been looking into tradeline credit accounts but it will cost me some money to get them added. That's no big deal if it will work. If not should i just pay off all the collections first. What would be the best move for me. Again i know either way will cost money and that's no big deal but i need to do whats best for me short time to get my scores back up there. Here are my scores as of now.

WHAT SHOULD I DO? PLEASE! IM LOST AND WANT TO MAKE THE RIGHT CHOICE!


Trans Union Experian Equifax
547 603 514

Here is a breakdown of my report!
TransUnion Experian Equifax
Total Accounts 23 13 23
Open Accounts 15 3 4
Closed Accounts 8 10 19
Delinquent 1 0 0
Derogatory 16 8 15
Balances $4412.00 $2197.00 $4527.00
Payments $25.00 $111.00 $111.00
Public Records 1 1 1
Inquiries(2years) 12 4 15


I think that you should pay off your collections account first in order to avoid judgments which the creditors may bring against you to recover the debt because judgment may lower your score further. Since you already have a cc, merchant card and existing installment loan, you should ensure that you do not default on these debts and try to build up a good credit history with these accounts. Building up a good credit history will help you to improve your score.


lrhall41

Submitted by SC on Mon, 06/15/2009 - 05:50

( Posts: 3937 | Credits: )