topic Re: 27 & Learning about credit the hard way =) in Rebuilding Your Credit

27 & Learning about credit the hard way =)

Learning_Tee0225 — Mon, 09 Apr 2012 04:11:09 GMT

Hello all!

Over the past couple of months ive taken an enormous amount of time scanning through these boards and finding tons and loads of helpful information. Alas I am 27 years of age and just now taking the time to learn about credit and how to make it work for me. Ive lived on cash for as long as i can remember and didnt use my credit to wisely in my younger years so as i started to look at my own credit history i figured the first part id start at was to contact CA or OC and pay off the debt that i could most in exchange for deleting...heres what i look like at a glance on paper

since Jan 2012

US DEPT ED - Removed

ENHANCRCVRCO-sprint- Removed

2 seperate medical bills from CA BUS BUR- Removed

WEST ASSET-ATT- Removed

What remains follows

open account:

Secured credit card through Navy Federal 500$ credit limit-Active pymnts on time

CREDIT MGMT-TWC- PAID IN FULL (will not delete)

Two Rental companies owed total = 786$ showing placed for collections

1 medical bill 100$

FRD MOTOR CR- Auto loan- shows Payment after charge off/collection
Paid profit and loss

Im really trying here! My goal is to be mortgage Ready by 30 ...3years to go but in the near future (July-Aug) id like to purchase a new car and plan to try to get a loan through my credit union Navy Federal for around 24k. They pull Transunion and on the TU site my Credit score comes in @ 567

Any ideas on what else i could do to boost my score appreciate any tips tricks or how to's!

Re: 27 & Learning about credit the hard way =)

SamsungHDTV — Mon, 09 Apr 2012 05:12:10 GMT

Learning_Tee0225 wrote:
Hello all!

Over the past couple of months ive taken an enormous amount of time scanning through these boards and finding tons and loads of helpful information. Alas I am 27 years of age and just now taking the time to learn about credit and how to make it work for me. Ive lived on cash for as long as i can remember and didnt use my credit to wisely in my younger years so as i started to look at my own credit history i figured the first part id start at was to contact CA or OC and pay off the debt that i could most in exchange for deleting...heres what i look like at a glance on paper

since Jan 2012
US DEPT ED - Removed
ENHANCRCVRCO-sprint- Removed
2 seperate medical bills from CA BUS BUR- Removed
WEST ASSET-ATT- Removed

What remains follows

open account:
Secured credit card through Navy Federal 500$ credit limit-Active pymnts on time

CREDIT MGMT-TWC- PAID IN FULL (will not delete)
Two Rental companies owed total = 786$ showing placed for collections
1 medical bill 100$
FRD MOTOR CR- Auto loan- shows Payment after charge off/collection
Paid profit and loss

Im really trying here! My goal is to be mortgage Ready by 30 ...3years to go but in the near future (July-Aug) id like to purchase a new car and plan to try to get a loan through my credit union Navy Federal for around 24k. They pull Transunion and on the TU site my Credit score comes in @ 567
Any ideas on what else i could do to boost my score appreciate any tips tricks or how to's!

I think that you're most likely already doing what you need to be doing. The only thing else to recommend is to keep sending in more PFDs and GWs until they either fall off your reports or the CA just caves in. Would you please share how you got these CAs to be removed? I'm especially interested in "ENHANCRCVRCO" because I'm also dealing with them. I just sent in a DV about a week ago and currently am waiting for a response.

Re: 27 & Learning about credit the hard way =)

rckstrscott — Mon, 09 Apr 2012 07:28:13 GMT

SamsungHDTV wrote:
Learning_Tee0225 wrote:
Hello all!

Over the past couple of months ive taken an enormous amount of time scanning through these boards and finding tons and loads of helpful information. Alas I am 27 years of age and just now taking the time to learn about credit and how to make it work for me. Ive lived on cash for as long as i can remember and didnt use my credit to wisely in my younger years so as i started to look at my own credit history i figured the first part id start at was to contact CA or OC and pay off the debt that i could most in exchange for deleting...heres what i look like at a glance on paper

since Jan 2012
US DEPT ED - Removed
ENHANCRCVRCO-sprint- Removed
2 seperate medical bills from CA BUS BUR- Removed
WEST ASSET-ATT- Removed

What remains follows

open account:
Secured credit card through Navy Federal 500$ credit limit-Active pymnts on time

CREDIT MGMT-TWC- PAID IN FULL (will not delete)
Two Rental companies owed total = 786$ showing placed for collections
1 medical bill 100$
FRD MOTOR CR- Auto loan- shows Payment after charge off/collection
Paid profit and loss

Im really trying here! My goal is to be mortgage Ready by 30 ...3years to go but in the near future (July-Aug) id like to purchase a new car and plan to try to get a loan through my credit union Navy Federal for around 24k. They pull Transunion and on the TU site my Credit score comes in @ 567
Any ideas on what else i could do to boost my score appreciate any tips tricks or how to's!
I think that you're most likely already doing what you need to be doing. The only thing else to recommend is to keep sending in more PFDs and GWs until they either fall off your reports or the CA just caves in. Would you please share how you got these CAs to be removed? I'm especially interested in "ENHANCRCVRCO" because I'm also dealing with them. I just sent in a DV about a week ago and currently am waiting for a response.

I DV'ed an Enhanced Recovery Sprint account as the first thing I did with my credit rebuiling/repair, and they deleted it in like two week. No response, just deletion.

Here's hoping!

-scott

Re: 27 & Learning about credit the hard way =)

Learning_Tee0225 — Mon, 09 Apr 2012 17:31:11 GMT

Thank you for your reply! this is definately an up hill battle but i refuse to back down! Being that i only have 1 credit card open should i look at opening another secured card? or possibly a secured loan?

As far as the Enhanced Rec..I actually called directly to sprint and spoke with them made my pymnt directly to sprint and within 5 days max it was deleted. =)

Re: 27 & Learning about credit the hard way =)

wmcodywilson — Mon, 09 Apr 2012 17:54:54 GMT

+1 SamsungHDTV

I'm in the same boat as you my friend. I found that when I opened a new secured card my score immediatly made an increase. I also have NavyFed. I opened an account with PNC and app'ed for a secured card. Got approved. Also I went with capital one secured. I just recieved this one in the mail so im waiting to see what kind of an impact this will have.

Also, the best thing I can tell you, which I'm sure you already know, but dont app for everything under the sun. This got me in trouble. At the time I didnt know about secured cards and just app'ed for everything I could. Im regretting it now. It did hurt me a little bit but thankfully these 3 cards were the only 3 I recently app'ed for and got them.

Now im in the process of GW'ing and PFD'ing the last few things on my account. Then its time to garden for a year and see where I can get.

Good Luck!

Re: 27 & Learning about credit the hard way =)

SamsungHDTV — Tue, 10 Apr 2012 03:27:32 GMT

wmcodywilson wrote:
+1 SamsungHDTV

I'm in the same boat as you my friend. I found that when I opened a new secured card my score immediatly made an increase. I also have NavyFed. I opened an account with PNC and app'ed for a secured card. Got approved. Also I went with capital one secured. I just recieved this one in the mail so im waiting to see what kind of an impact this will have.

Also, the best thing I can tell you, which I'm sure you already know, but dont app for everything under the sun. This got me in trouble. At the time I didnt know about secured cards and just app'ed for everything I could. Im regretting it now. It did hurt me a little bit but thankfully these 3 cards were the only 3 I recently app'ed for and got them.

Now im in the process of GW'ing and PFD'ing the last few things on my account. Then its time to garden for a year and see where I can get.

Good Luck!

Keep me updated on what kind of impact you have when the Cap1 card starts to report for you. I recently received mine in the mail yesterday. It's my only secured card, but I'm wondering if I should go get secured card or perhaps a secured installment loan or even just garden until 2013.

EDIT: PM me if you can remember to, as this thread may die out and I might not find your response.

Re: 27 & Learning about credit the hard way =)

rootpooty — Tue, 10 Apr 2012 03:54:54 GMT

SamsungHDTV wrote:
Learning_Tee0225 wrote:
Hello all!

Over the past couple of months ive taken an enormous amount of time scanning through these boards and finding tons and loads of helpful information. Alas I am 27 years of age and just now taking the time to learn about credit and how to make it work for me. Ive lived on cash for as long as i can remember and didnt use my credit to wisely in my younger years so as i started to look at my own credit history i figured the first part id start at was to contact CA or OC and pay off the debt that i could most in exchange for deleting...heres what i look like at a glance on paper

since Jan 2012
US DEPT ED - Removed
ENHANCRCVRCO-sprint- Removed
2 seperate medical bills from CA BUS BUR- Removed
WEST ASSET-ATT- Removed

What remains follows

open account:
Secured credit card through Navy Federal 500$ credit limit-Active pymnts on time

CREDIT MGMT-TWC- PAID IN FULL (will not delete)
Two Rental companies owed total = 786$ showing placed for collections
1 medical bill 100$
FRD MOTOR CR- Auto loan- shows Payment after charge off/collection
Paid profit and loss

Im really trying here! My goal is to be mortgage Ready by 30 ...3years to go but in the near future (July-Aug) id like to purchase a new car and plan to try to get a loan through my credit union Navy Federal for around 24k. They pull Transunion and on the TU site my Credit score comes in @ 567
Any ideas on what else i could do to boost my score appreciate any tips tricks or how to's!
I think that you're most likely already doing what you need to be doing. The only thing else to recommend is to keep sending in more PFDs and GWs until they either fall off your reports or the CA just caves in. Would you please share how you got these CAs to be removed? I'm especially interested in "ENHANCRCVRCO" because I'm also dealing with them. I just sent in a DV about a week ago and currently am waiting for a response.

same here with enhanced recovery. they claimed i owed them for a sprint bill. when i sent a dv i noticed they deleted the tradeline off my reports.