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Question By
Jimmy3550

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Can removed accounts raise my 540's score to 620
I have no credit cards.
one open account (small)
But I have 4 things that are killing my score
Bankruptcy (4yrs ago)
State Tax Lien from 2007 that was paid and released but still reporting.
One collection that I'm disputing as paid 2 years ago and they reported it again in 10/2015
And a charge off for around 29000. That the company is requesting be removed from my report.
So if I get the Tax Lien, collection and charge off removed could my scores improve enough to be at least 620? If not what else might help me get it there within next 2 mo? I already know about secured loans and credit cards but those take a year to really make a difference
Thanks

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You may not be able to get a credit jump in two months, but it doesn't hurt to try getting all negative reports dealt with as quickly as possible so that your score can increase as they drop off and as you build a better credit portfolio.  The bankruptcy will be reporting for ten years total so you have 6 more years to wait on that.  And that is a very big negative to have on your report, but it cannot be removed. The tax lein will still be reported for a total of 7 years, and that is another item that has to fall off at its appointed time since it, also, cannot be removed. There aren't going to be any quick fixes in your situation.  You'll have to work on doing things that help build your credit (please re-read the articles on this site for good information) and keep the good things going if you want to have a more enjoyable life.

Reply by
Jimmy3550

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Thanks. I know the bankruptcy is going to stay there. I was told the tax lien can be reported for 7 years or up to 10 years if not paid. It was paid so it should have been removed by now. I plan on getting a letter from the state showing where and when it was paid and asking the CB to remove it. Hopefully they will. I know it's hard to rebuild credit and time is a big factor. I just paid off a 30,000 loan early (13,000 balance when paid off around Oct) because I thought that would help. Apparently that was a bad thing because I had no open accounts anymore and it dropped my score even more. I do have one open account to build credit but don't want to open another new one if I'm going to try to get a mortgage. I learning a lot of things I though I knew about credit were so wrong. Some of this stuff is so confusing though. I did end up getting a charge off removed and it should reflect on my report soon and I'm really hoping that will help. Any advice on how to handle the collection? I honestly don't know what it's from and haven't received anything from the collection agency all it says is Att is original creditor and the days is Sept 2015. No late payment date or anything and att can't find a bill. Should I dispute it or just pay. I just need it gone asap and not sure how I should approach this. Thanks again (sorry so long)

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