The beginning of another football season reminds us how important it is for coaches and players to be on the same page as they move toward their shared goal. They cannot truly achieve success unless that happens. The same principle applies to improving your 554 credit score, as John S.’s success story shows.
John’s HUD-certified, nonprofit credit counselor went about removing late payments and a collection account from his report. Meanwhile, he continued to pay down his credit card balances every month. The result: John’s 554 credit score increased to 626 in five months! This put his short-term goal of a 650 score in clear view.
What are collections on a credit report?
A collections account occurs if you fall behind on payments and the lender or creditor decides to transfer your account to a collection agency or sell it to a debt buyer. This can occur anytime from the date you begin missing payments or not paying the full minimum payment to a few months after you become delinquent. Lenders and creditors will usually send you letters or call you regarding the debt before it is sent to a collection agency.
“Should I try to fix my 554 credit score myself?”
The collaboration between our clients and the counselors we connect them with on our platform is a beautiful thing. That’s why we never recommend DIYing your own credit fixes. There are many ways you can mess up your attempts to clear your credit record.
Improving your 554 credit score isn’t impossible. But it’s one of those things that is best left to the experts. Specifically, the credit counselors on our platform. That’s because:
- They know what they’re doing.
- They have your best interest at heart.
- They’re not here to keep you in a program for longer than you need to be.
- They’re not out to make a profit off your hard times.
They’re here to coach you to success and show you the responsible credit practices that can improve your 554 credit score and your life – both while you’re enrolled in the program, and more importantly, for years to come after you’ve achieved the credit score you want and deserve.
Read more credit success stories here.