Utilization is down ,but wth?

[fiveyearplan66]

And so is my scores. According to the experian fico simulator, if I pay down my outstanding debt, I should be expecting increases but instead , Ive been experiencing decreases? Over night my utilization dropped from 123% to 98% and suffered another 3pts because I paid off an installment agreement that was turned into a revolving account that should have increased my utilization. Last week the same thing happened when I paid down my utilization from 188% to 123 % it dropped 10 pts then. Within the next 30 days , my reports will show that a recent collection has been removed and even more of my debt will be paid down, should I expect some more of the same score droppings until its all zeroed out? This is kinda discouraging but at the same time I know there has to be a good outcome of some kind in the future.

[shifter]

Simulators are worthless.

 

But with util still that high it doesn't really matter.

 

You're still in the maxed out category.

 

Keep paying it down and you will see positive results once you get it under 90% , then 70, then 50, etc.

[mindcrime]

Keep going, like shifter said you're still maxed out.

 

Lucky your cards didn't close on you with utilization at 188%

[mendelssohn]

I agree with what shifter said.

 

At this point, just focus on paying off debt. With any card over 90%, your scores are going to suffer.

[fiveyearplan66]

Keep going, like shifter said you're still maxed out.

 

Lucky your cards didn't close on you with utilization at 188%

True. I was on the brink of just letting them charge off, until I stumbled on something else on this board with some other great members who advised to make an arrangement to pay before that happens. I have been and although the accounts are closed, they are not charged off yet and when paid in full, tgey will report "paid as agreed " and according to the simulator, my collection account with Portfolio Recovery/Cap one for $518 is factored in my overall debtness. So , it almost seems as if long as Portfolio is still showing a balance , my utilization will never get below 30% unless I increase my limits on my current cards,right?

 

For my utilization to be , lets say 10% I would have to have 5k in credit limits, right? I'm trying to out weigh the bad because it seems like Portfolio is going to be there for the duration of the next couple years, I have DV them and disputed with the Cra's and everything, so I guess I am stuck with them?

 

I currently have $1250 in credit available and two of these tradelines are secured cards. Do I just increase my limits on my secured cards at this point or does someone have a another strategy that may work to get Portfolio off and gone for good?

Thanks in advance.

Edited September 20, 2015 by fiveyearplan66

[fiveyearplan66]

I agree with what shifter said.

 

At this point, just focus on paying off debt. With any card over 90%, your scores are going to suffer.

The collection with Portfolio is factored in the utilization too.

[Imma make it rain trick]

And so is my scores. According to the experian fico simulator, if I pay down my outstanding debt, I should be expecting increases but instead , Ive been experiencing decreases? Over night my utilization dropped from 123% to 98% and suffered another 3pts because I paid off an installment agreement that was turned into a revolving account that should have increased my utilization. Last week the same thing happened when I paid down my utilization from 188% to 123 % it dropped 10 pts then. Within the next 30 days , my reports will show that a recent collection has been removed and even more of my debt will be paid down, should I expect some more of the same score droppings until its all zeroed out? This is kinda discouraging but at the same time I know there has to be a good outcome of some kind in the future.

 

123% to 98%....

 

Get it down to 30% and then you will see change.

[pjmaxwellian]

 

Keep going, like shifter said you're still maxed out.

 

Lucky your cards didn't close on you with utilization at 188%

 

True. I was on the brink of just letting them charge off, until I stumbled on something else on this board with some other great members who advised to make an arrangement to pay before that happens. I have been and although the accounts are closed, they are not charged off yet and when paid in full, tgey will report "paid as agreed " and according to the simulator, my collection account with Portfolio Recovery/Cap one for $518 is factored in my overall debtness. So , it almost seems as if long as Portfolio is still showing a balance , my utilization will never get below 30% unless I increase my limits on my current cards,right?

For my utilization to be , lets say 10% I would have to have 5k in credit limits, right? I'm trying to out weigh the bad because it seems like Portfolio is going to be there for the duration of the next couple years, I have DV them and disputed with the Cra's and everything, so I guess I am stuck with them?

I currently have $1250 in credit available and two of these tradelines are secured cards. Do I just increase my limits on my secured cards at this point or does someone have a another strategy that may work to get Portfolio off and gone for good?

Thanks in advance.

I wouldn't put any more into secured cards at this point. If you have the cash, pay down those balances. And, ignore the simulators!!!

[fiveyearplan66]

 

And so is my scores. According to the experian fico simulator, if I pay down my outstanding debt, I should be expecting increases but instead , Ive been experiencing decreases? Over night my utilization dropped from 123% to 98% and suffered another 3pts because I paid off an installment agreement that was turned into a revolving account that should have increased my utilization. Last week the same thing happened when I paid down my utilization from 188% to 123 % it dropped 10 pts then. Within the next 30 days , my reports will show that a recent collection has been removed and even more of my debt will be paid down, should I expect some more of the same score droppings until its all zeroed out? This is kinda discouraging but at the same time I know there has to be a good outcome of some kind in the future.

123% to 98%....

 

Get it down to 30% and then you will see change.

Thanks. But I'll still have that $518 collection taking up some of my utilization. So, total I owe $1227 thats including the collection , forgive me for asking, but how much should I pay this debt down to, to be @ 30% ?

[fiveyearplan66]

 

 

Keep going, like shifter said you're still maxed out.

 

Lucky your cards didn't close on you with utilization at 188%

 

True. I was on the brink of just letting them charge off, until I stumbled on something else on this board with some other great members who advised to make an arrangement to pay before that happens. I have been and although the accounts are closed, they are not charged off yet and when paid in full, tgey will report "paid as agreed " and according to the simulator, my collection account with Portfolio Recovery/Cap one for $518 is factored in my overall debtness. So , it almost seems as if long as Portfolio is still showing a balance , my utilization will never get below 30% unless I increase my limits on my current cards,right?

For my utilization to be , lets say 10% I would have to have 5k in credit limits, right? I'm trying to out weigh the bad because it seems like Portfolio is going to be there for the duration of the next couple years, I have DV them and disputed with the Cra's and everything, so I guess I am stuck with them?

I currently have $1250 in credit available and two of these tradelines are secured cards. Do I just increase my limits on my secured cards at this point or does someone have a another strategy that may work to get Portfolio off and gone for good?

Thanks in advance.

I wouldn't put any more into secured cards at this point. If you have the cash, pay down those balances. And, ignore the simulators!!!

Thanks.Plus, I have to slow down on the inquiries too.

[fiveyearplan66]

 

 

And so is my scores. According to the experian fico simulator, if I pay down my outstanding debt, I should be expecting increases but instead , Ive been experiencing decreases? Over night my utilization dropped from 123% to 98% and suffered another 3pts because I paid off an installment agreement that was turned into a revolving account that should have increased my utilization. Last week the same thing happened when I paid down my utilization from 188% to 123 % it dropped 10 pts then. Within the next 30 days , my reports will show that a recent collection has been removed and even more of my debt will be paid down, should I expect some more of the same score droppings until its all zeroed out? This is kinda discouraging but at the same time I know there has to be a good outcome of some kind in the future.

123% to 98%....

 

Get it down to 30% and then you will see change.

Thanks. But I'll still have that $518 collection taking up some of my utilization. So, total I owe $1227 thats including the collection , forgive me for asking, but how much should I pay this debt down to, to be @ 30% ?

If my calculations are right, I will have to get my debt down to $368.00. Thats going to impossible with that collection still there,no? Help, I think I see the light!