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Can anyone answer question on credit scores and how to raise them?

Hi I was just looking into our bank about getting out of paying rent and buying a home. In Florida there is a great website for cash advance loans as well as a program for people like us that have filed for complete bankruptcy that was less than 4 years ago we just have to have a credit score of 620 or higher. Mine is at 570 right now and my husbands is hover around the same. He is the only one working which is normal and we just payed off our vans loan early and our tv through the rent center so now we only have our rent bill and utilities. But our problem is for sure not only the bankruptcy but additional little things on our credit when we moved 2 years ago and now some medical bills that went to collection 2 years ago.

So my question besides getting our credit report and working out a payment arrangement to show we are serious in clearing our credit what else should we do and how long does it take to show our score to raise higher (how does that work exactly). Where does credit scores hover at the numbers? What is good and such? Plus we have to only have 2% of the closing costs of the loan to save we have to have no down payment which is great to us. How long should we work on this until we try to do this loan before our credit score should change? And is there a quicker way to invest money to pay these bills off?

When my husband and I are were raising our scores, we paid off debts a little early. I think in less than a year, we raised our scores from the 680 range to a little over the 710 range. That was about 4 years ago. I don’t know exactly the time frame or the exact rise in numbers, but we were diligent on reducing our debts.

I went to fico.com and ran my reports along with fico scores. At the end of the report gives you a series of “what if” scenarios. I would plug in, if I paid an extra XXX amount of dollars to debt, what will me credit score be? It was a little off because our scores were actually higher than what the formula told us.

Whatever you do, don’t go through debt settlement, I have heard they will absolutely obliterate your credit. What I meant to say was don’t go through the credit counseling companies where they reduce interest rates and work out payment arrangements. Better to do it yourself.

I don’t know why I always say debt settlement when I mean the Credit counseling services. I guess my 38 year old brain is getting the better of me.


June 30, 2016, credit score
You may also try your local Bar Association

It sounds like a scam of some sort just to get you to pay more money sooner. I live in NYC where you can contact the Bar Association who will refer you to an attorney. You can get legal advice there for a minimal fee. It’s been a few years when I did this; I only paid about $10 for the visit. The lawyer may agree to advocate on your behalf. Explain the “bait and switch”.

I would also check the collection laws where you live and see if perhaps this collection agency is bullying you into paying a lump sum. If you were to go to court, I would think they would have to get a judgment against you to do this and being that you are sending a payment each month, I would think it would be harder for them to get a judgment against you unless payments have been sporadic. Hope this may help.

I’m checking into it. I’m almost done two other debts and hopefully have it complete by 6 months… its just this darn credit card. Bad choices, and going to school for a year, no income and living on a card… bad bad idea. On the plus side I got a job, with potential to do really good. Wish me luck… stressed to the max… but keeping my chin up.


June 2, 2016, debt collection laws