Help With Charge Off

[credithelp823]

Hello All,

 

I am new to this forum. I need some help, I've had Lexington Law for a couple months and seen no improvements on my charge offs...Time to take matters in my own hands.

 

I have 3 charge offs that are less than $1000 and my credit score is about a 530. People with car repossessions and bankruptcies probably have a higher score than me. Why are three little things destroying my score??????

 

I need help on what to do about the charge offs and also if I should get a secured Capital One credit card in the mean time to help build my credit back up.

 

I appreciate your help!

[Demonico]

This probably belongs in the credit forum, you'll a better response there. I will say that if you are working with Lexington doing things on your own is likely to hurt you if you don't stop your service with them first. Even then you may need to wait a bit before starting on your own.

[credithelp823]

Thank you for responding!

 

I'll move it there now.... I actually worked with Lexington for about 4 months and really did not see any improvement. They got a couple of items off, but seems like these charge offs weren't budging. I'm not sure if they were disputing them, but I was going to try asking for a pay for delete.

[breeze]

I'll move it for you.

[nysbadmk8]

Do you have any open credit cards or loans right now?

 

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[credithelp823]

nysbadmk8... Yes I do. I have student loans in deferment, I am a co-signer on an auto (which idk how I got approved for) [maybe bc I never had an auto loan] and I also just applied and was approved for a Cap 1 secured card.

[Demonico]

How long have you had the student loans and auto loan? As long as those are showing positive they will help pull your scores up. Give them more time and time with the C1 card and you should be good. It sucks but time is a big factor for credit, consider payment history and AAOA. Both incorporate time and are decent sized chunks of the scoring models.

[credithelp823]

I actually had student loans since 2008. All except for Perkins are in deferment. Perkins, went to a collection agency. Trying to figured out the best solutions for that. I'm shooting for at least a 650 by January next year, applying for a mortgage.

[Demonico]

The best outcome would be to have the negatives removed from the Perkins loan and have it paid off. Negotiating that is not likely to be easy but it should be possible if you have the means to pay it.