- This topic has 5 replies, 6 voices, and was last updated 8 years, 6 months ago by Anonymous.
- May 5, 2011 at 7:01 am #203573AnonymousInactive
currently my credit score 575. My old credit cards paid off , they were 30-60 days late in payment, i’ve collection debt of 700$. If i’d pay 700$ collection debt all in once would this improve my credit Score and imrprove better look of my credit Report ? If i’ll dispute the collection debt on-line at the experian(but not yet directly w/the agency) would this reopen new date of the collection ? i heard when debt passes 7 yr period it goes away from the credit report ? In my situation how to imrove credit score ? Currently i don’t have any credit cards or loans.
in the credit report i’ve only 1 unaccuracy, it says that i’ve opened 3 gym accounts, but i’ve opened only 1. In the credit report it says they are outstanding, positive, paid and closed. Since there are positive, should i correct it in the report (let them know i opened only 1 account) or leave them like it is ?
- May 10, 2011 at 3:34 am #270266Catharine CastigliaMember
here are some great tips. and no disputes will not reopen these accounts. yes 7 years from last date will be removed.
1. Pay your bills on time.
This is the best way to improve your score, and it’s never too late to start. Even if you’ve had serious delinquencies in the past, those will count less over time if you keep paying your bills on time.
2. Keep credit card balances low.
High outstanding debt can pull down your score. Don’t go maxing out your credit cards all the time.
3. Check your credit report for accuracy.
It’s possible that there may be inaccurate information on your credit report that can be easily cleared up (see How To Fix Credit Report Inaccuracies). If this proves to be the case, then you should contact one of the three credit reporting agencies–TransUnion, Experian or Equifax.
4. Pay off debt rather than moving it around.
Consolidating your credit card debt onto one card or spreading it over multiple cards will not improve your score in the long run. The most effective way to improve your score is by simply paying down the amount you owe.
5. Keep your credit cards – but manage them responsibly.
In general, having credit cards and installment loans that you pay on time will raise your score. Someone who has no credit cards tends to have a lower score than someone who has managed credit cards responsibly.
6. Don’t open multiple accounts too quickly, especially if you have a short credit history.
Opening too many accounts in too short of a time period can look risky because you are taking on a lot of possible debt. New accounts will also lower the average age of your existing accounts, something that your FICO score also considers.
7. Don’t open new credit card accounts you don’t need.
This approach could backfire and actually lower your score.
8. Don’t close an account to remove it from your record.
It’s a myth that closing an account removes it from your credit report. This is untrue–even closed accounts remain on your report, possibly for an indefinite period of time and may still be factored into the score. In fact, closing accounts can sometimes hurt your score unless you also pay down your debt at the same time.
9. Shop for a loan within a short, focused period of time.
FICO scores distinguish between a search for a single loan and a search for many new credit lines, based in part on the length of time over which recent requests for credit occur. If you shop for a number of loans over too long a time period, it can count against you.
10. Contact your creditors or see a legitimate credit counselor if you’re having financial difficulties.
This won’t improve your score immediately, but the sooner you begin managing your credit well and making timely payments, the sooner your score will get better.
- May 14, 2011 at 12:33 am #275541AnonymousInactive
Pay off the collection amount. Start paying all of your bills on time. Unfortunately, it does take years for your credit score to improve.
- May 17, 2011 at 2:34 am #278066AnonymousInactive
I would talk to someone that does credit restoration. I have a company that I send my clients through, but there are lots out there.
You should remember that you always have the ability to fix the score…by yourself, get a new card, use it, and PAY IT OFF every month, keep it up to date
- May 31, 2011 at 1:20 pm #285337AnonymousInactive
Now this ofcourse is not easy raising your credit score takes time once it falls. That is one of the main reasons that i who had a 740 credit rating cancelled all my credit cards and shit. Cos if ur moving to a house or buying a car watever crap that credit rating shows up. Thanx to ur ss of course. So even if u put in a 100000 over a period of 2 mths its still gonna be shitty. Its a gradual process and takes time.
- September 19, 2011 at 1:00 am #290630AnonymousInactive
It will not reopen the collection debt, the date stays the same and in 7 years it will be removed. But if your interested in paying it sometimes you can let them know and they will accept a lower amount considering they done figured they were getting nothing.
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