help raising credit score

iVillage Member
Registered: 04-28-2007
help raising credit score
5
Tue, 01-20-2009 - 12:29am
Ok so I filed our taxes tonight and were getting a LOT LOT LOT more than i expected!!! yay! so all my debt besides loans from family members could be paid off soon! my question is... how can i use this opportunity to raise our credit score? DF's took a hit from from a bill in collections we didnt know was there, and we may not even owe but were disputing that right now, and the future of needing to buy a new (used) vehicle is looming so we really need to work on his credit score.

 


laurenaugust.gif picture by wowen<

iVillage Member
Registered: 11-17-2007
Tue, 01-20-2009 - 1:00am

Having the collection account showed as paid would be a great start. If he doesn't owe it them make sure it is taken out of

iVillage Member
Registered: 04-28-2007
Tue, 01-20-2009 - 6:23am

yes we are paying it right away. it wasnt even that much money anyways, the only reason i found out about it was because i checked his credit report! we will definitely keep the records now, weve learned our lesson w that!


thanks for giving me an idea with the 5% thats really helpful in the decision making. were actually hoping to make a payment because that would help raise our score really quickly, but ofcourse we do have to be able to comfortably afford that payment.


so for the cc's should i just pay them off right away or should i break the money up into a few months.

 


laurenaugust.gif picture by wowen<

iVillage Member
Registered: 10-02-2008
Tue, 01-20-2009 - 7:23am

http://ficoforums.myfico.com/fico/


Check out these forums for any questions you have about credit scores.

iVillage Member
Registered: 03-17-2003
Tue, 01-20-2009 - 9:28am

Mary Ann's suggestion for saving 5% is brilliant.

iVillage Member
Registered: 04-28-2007
Tue, 01-20-2009 - 10:19am
thanks! the reason were not paying the cc w the most interest rate is bc its also the one we own the most on and we could pay off 2 other cards w that amount of money and the other cards we have we could also use in case of emergency and since we dont have an emergency fund right now we really need that. i know it sounds like a revolving door into more debt but we never use them anymore and the only reason we ever did is bc we had an emergency and they all just went to food and gas. we have to think of the baby first.

 


laurenaugust.gif picture by wowen<