A newbie who needs some advice-please help.

[cj0183]

Hey everyone

I'm coming into some money in a couple of weeks and I want to use it to pay somethings off with the hope of raising my credit score.

I have 2 credit card accounts that are closed and charged off. They are still with the original creditor I assume because I don't see a collection agency for these accounts of my credit report.

I have a judgement from about 6 months ago. It's relatively small and they haven't attempted to collect on it or garnish any wages.

I have a credit card that was in good standing until they closed it about 2 months ago. It was a subprime card and they stopped the program. I still have a balance left.

I also have various collections that are from about 4 years ago. The oldest being from 2004. They are all around and under $200. The oldest is 6 years old and around $400.

My question is which bills should take priority if I want to raise my score. I'm going to pay off my open credit cards first but what should be next. I was thinking of doing pay for deletes for the small collection accounts but I wasn't sure how I should handle the charge offs. They are all still within the Statute of Limitations.

Thanks so much for your help!

[Ahntara]

"...pay somethings off...raising my credit score..."

I'd recommend you spend some time educating yourself before you take action. The two things quoted above are not compatible. Be aware that paying, disputing, sending investigation requests or anything else that causes an update of a derogatory TL may cause a drop in your score. Before you tackle credit repair, you may wish to read up on FICO-based scoring programs.

"...open credit cards..."

I'm assuming this refers to positive, on-going, accounts. If so, then research 'Utilization' for tips on how to use this to maximize your score.

Do you have a specific reason for needing a higher score soon? Are you a property owner?

You'll want to tackle the judgment first. Since it's only 6 mos. old, there may be time to get it Vacated in exchange for PIF.

[cj0183]

The reason I need a higher credit score is because within about 5-6 months I have to move out of my apartment. I've been trying to find a new place to live but I getting denied at every decent apartment community. If I can't get a place on my own, we're (me and my son) are going to be homeless. Some of the communities use a computer based scoring model through experian, the rest pull your credit file and score you based upon judgments, liens, charge offs, and collection accounts. I have all of them on my report.

[JustaTexan]

Have you looked into renting a duplex or small house instead? I know sometimes landlords can be more lenient and understanding sometimes. And some of them don't even run a check.

Good luck!

[jezter6]

If you're coming into some money - consider keeping it and offering a higher security deposit to the new landlord instead of trying to clear up bills.

Paid collections/judgements are no better (and sometimes worse) that having old collection account/judgements that haven't been updated recently.

Keep trying to clear up the credit report as best you can, but before you consider spending a lot of money that (at least in the short run) will not signifigantly boost your score - think about the other options.

[JustaTexan]

If you're coming into some money - consider keeping it and offering a higher security deposit to the new landlord instead of trying to clear up bills

Good idea!