Credit Score Expectations

Date: Wed, 09/06/2006 - 11:29

Submitted by RogueAngyl
on Wed, 09/06/2006 - 11:29

Posts: 4 Credits: [Donate]

Total Replies: 1

I've been fighting to get my credit back after making some pretty hard mistakes about 5 years ago. I lost my job while doing my undergrad, and so did my mother and my father was retired already, and I racked up about $10,000 in combined credit card debt, which over the course of the past 3 years I have whittled down to one bank with $3,000 debt. I have a small inheritence coming my way soon and I hope to torpedo this last bit. I do have some positives in my favor, once I was working again I could start, progressively, paying things (and eventually paying things off) one by one, I have a positive record for the car loan I took out through one of those bad credit car dealerships (and thankfully there's nothing wrong with THIS car that I can't fix), I just picked up a credit card from First Premiere (that I intend on using infrequently, just wanted to add another positive), and I was able to do without student loans until grad school. Two years ago my credit score was in the mid 400s, now it is 604 (Exp) 634 (Equ) 633 (TU). After I pay off my old credit card debt, what can I do to up my score and what is reasonable to shoot for in the next year to two years. I'd like to get it up to 700 in the next year or so, but working as a Drug & Alcohol Counselor I'm not exactly raking in the big bucks to do anything extraordinary.

Your scores are decent now. Do anything that pushes your scores

Your scores are decent now. Do anything that pushes your scores upwards. Paying off small accounts will give maximum and immediate return to your credit repair. Creditors will report after the accounts get paid off and your scores will improve.

Find out if there are any inaccurate negative remarks in your file. More often, the bureaus max up individual files because they handle millions and millions of files. There are more chances of incorrect reporting frequently. Once you find out something suspicious in your credit, report it to the bureaus immediately. They will fix it and your scores will go up. Also, check for the inquires put by your credit companies. Not all of them happen to be correct. Sometimes, they also lower the scores.

lrhall41

Submitted by aciotsf on Wed, 09/06/2006 - 12:23

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