What is your advice on raising my score in a short time frame?

Deal Score0

Okay, the score my mortgage broker pulled is a 587. The following are the accounts on my report and their status:
Auto Loan opened 9/06 $ 0 PD was 30 (10/06)
*I called Friday, and the lender agreed we were never late on a single payment and was going to send me confirmation in the mail
Medical Collection opened 7/03 $ 395 last reported 4/08
*I called and offered payment in full in exchange for deletion of this record. The supervisor said he couldn’t do that because it would be a violation of HIPAA guidelines, and he could only post the account as paid in full. After talking to him, I pulled my Transunion report and under this debt, it says “estimated date of removal 3/09” *I’m just not sure how accurate that is, or if TU can decide to remove it at a later time
Credit Protection Assoc (Hollywood Video account) $ 166 collection. Opened 10/02 Last reported 2/03.
*This has an estimated date of removal of 6/09, and I have not called to see if they would delete in exchange for payment
The last item is an unsatisfied IRS tax lien. I have sent a request for payoff calculation since I won’t be able to get a loan until it is satisfied, even though I have been making monthly payments.
Please advise what is the best action to take on all of these items. I need to raise my score 33 points ASAP.

  1. Reply
    May 15, 2011 at 12:04 am

    Two appear to be dropping off in a few months for REPORTING. I would just let those go.

    STOP and keep off the phone. These offers should be in writing ONLY. When you called on a couple of these you may have actually RESTARTED the time for collections in your state and they have the full state allotted time to collect from you. Removal from the credit reports does NOT mean the debt is necessarily forgiven and people in a panic who CALL places are placing themselves into a renewed collection arrangement.

    The IRS lien is your next order of business so get parttime job and shoot every dime toward that debt.

    Remember STAY OFF THE PHONE it is your enemy!

  2. Reply
    May 15, 2011 at 12:13 am

    Credit score is like health – most people don’t think about it until it becomes a problem. Just as the current state of your health mirrors the health habits you have followed over a longer period of time, so your credit score reflects your credit history. It means that building a high credit score takes time (although there are some shortcuts) and maintaining it is a continuous process. In this article, you’ll find 5 ways to increase credit score and ensure you get good interest rates whenever you need credit.Before talking about the details on how to increase credit score, there are some basics you need to know. Credit score, or FICO score (the most commonly used credit score, created by the Fair Isaac Corp.), is a number ranging from 300 to 850 which is calculated with a mathematical model, using the information in your credit report. The number shows the lender the likelihood of you paying back the loan on time. The higher the score, the less risky it is for the lender to give you a loan and the better interest rate you are offered. If your credit score is 700 and above, you’re likely to get the best interest rates available.

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