New to myFICO/Need help Improving 500 Credit Score

QuestionsNew to myFICO/Need help Improving 500 Credit Score
asked 4 years ago



I am new to this forum and in desperate need of improving my credit score, it is 501.  I really do not know where to begin.  I read some information from this forum prior to joining, but I still do not know where to begin.  This is an overview of my credit profile.  I am hoping someone can help me with establishing a plan and starting point.  Here goes:


1 secured credit card from Capital 1 – $ 451 credit limit (but I have mismanaged it, but going forward will not utilize more than 30% of my credit limit)

10 open collection accounts ranging from $ 105-$ 1,515 (the $ 1,515 account is being reported twice from two different collection agencies)

2 closed collections that have been paid (not sure if these can be removed)

14 credit inquiries (not sure how to remove them)

$ 29K in defaulted student loans that are now at a collection agency (how do I set-up a reasonable payment plan, whenever I talk to representatives they try to make me pay way more than what I can afford)


Any help, advice, strategies that you all can provide is greatly appreciated.




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