topic Re: Starting out my credit rebuilding project Need advice in Rebuilding Your Credit

New Rebuild Journal Xwill04

xwill04 — Fri, 16 Nov 2012 16:20:58 GMT

Hey guys, recently decided to get serious rebuilding my credit.

Here are the following items on my credit reports and steps taken :

Collection accounts:

ENHANCED RECOVERY - TransUnion (DV Letter sent 11/14/2012)

Balance- $1,454

Date Opened- 4/12

EOS CCA - Experian, Equifax, TransUnion (DV Email sent 11/15/2012 to direct contact received via this forum)

Balances- $678, $1,518, $378

Date Opened- 8/1/2012

PACIFIC CREDIT EXCHANGE - Experian, Equifax, TransUnion (DV Letter sent 11/14/2012)

Balance- $9,016 (Repo Purchase)

Date Opened- 2/1/2012

MIDLAND FUNDING - Experian, Equifax, TransUnion (DV Letter sent 11/14/2012)

Balances- $461, $2,002

Date Opened- 12/1/2012, 11/1/2011

PINNACLE CREDIT SERVICES- Experian, Equifax, TransUnion (DV Letter sent 11/14/2012)

Balance- $1,405

Date Opened- 12/1/2009

ALLGATE FINANCIAL LLC - Experian (DV Letter sent 11/14/2012)

Balance- $475

Date Opened- 5/1/2009

RASH CURTIS & ASSOCIATES - Experian, TransUnion (DV Letter sent 11/14/2012)

Balance- $318

Date Opened- 6/1/2008

Charge Offs:

FIRST PREMIER BANK (623 Letter sent 11/14/2012)

Balances- $469, $518

Date Opened- 8/1/2009, 1/1/2009

A - L FINANCIAL CORP (Auto Loan) - Experian (623 Letter sent 11/14/2012)

Balances- $9,016

Date Opened- 2/1/2009

DSNB MACYS (623 Letter sent 11/14/2012)

Balance- $319

Date Opened-1/1/2007

CAP ONE

Balance- $0

Date Opened-10/1/2006

Current Accounts:

CAPITAL BANK (Open Sky Secured CC)

Balance- $282/300 (Never Late) WIll pay down $250 by next week to help util before statement cuts on 12/3

Date Opened-8/1/2012

First Tech Federal Credit Union (Secured Personal Loan)

Balance- $1000

Date Opened- 3 days ago (11/12/2012)
Payments: $29/mo over 36 months

Interest Rate: 3.1% (Only $49 interest over 3 years if i end up making minimum payments)

Applied Bank Secured Credit Card

Balance- $0/$200

Date Opened- 3 days ago (11/12/2012)

Credit Scores (FAKO)

Experian- 513

Equifax- 517

TransUnion- 541

Im thinking about sending a letter to Experian regarding the A-L financial listing as i disputed it a couple years ago, was removed and came back to my report but never receieved notice from Experian. Also CA is reporting the balance as well as OC.

All charge offs have been disputed with CB and came back verified. All collections have been disputed with CB and came back verified except (EOS, havent disputed yet hope I can get them to remove directly if not I will dispute with the credit bureaus)

Need advice how to pay off loan for optimum score results. I could technically pay $100/mo towards the loan only reason i opened it was to add an installment loan to my credit portfolio. Interest isnt an issue so i could technically drag it out the full term. What do you guys suggest?

Any advice, tips, best practices?

Re: Starting out my credit rebuilding project Need advice

xwill04 — Thu, 15 Nov 2012 23:03:23 GMT

Inquiries:

Equifax- 23

Experian- 30

TransUnion- 25

I know the inquiries are horrible, i was recently car shopping so ran my credit a lot, as well as tried to get the bottom of the barrell credit cards with no luck (obviously). Also AL financial seems to be pulling my credit report once or twice a year.

Im gonna make sure not to take any more hits

Re: Starting out my credit rebuilding project Need advice

xwill04 — Fri, 16 Nov 2012 01:57:45 GMT

bump

Re: Starting out my credit rebuilding project Need advice

madmann26 — Fri, 16 Nov 2012 02:55:18 GMT

Start with the CC chargeoffs. These are factored into utilization.

For the lower balance CA...DV th first. If they validate.....then see if they will settle for less amd delete the CA.

Re: Starting out my credit rebuilding project Need advice

xwill04 — Fri, 16 Nov 2012 03:06:21 GMT

Sounds good thank you for the feedback, looks like ill go after first premier which im sure will either ignore DV or validate. Looks like ill just be able to get lowe util % out of paying those off...

then attack smaller CA and hope I can somehow get the larger ones off via DV, CRA disputes

gonna be a long road :smileysad:

madmann26 wrote:
Start with the CC chargeoffs. These are factored into utilization.

For the lower balance CA...DV th first. If they validate.....then see if they will settle for less amd delete the CA.

Re: Starting out my credit rebuilding project Need advice

xwill04 — Fri, 16 Nov 2012 16:17:56 GMT

UPDATE!!!!!

Sent DV to EOS YESTERDAY to contacts that have been floating around this board, and woke up to some great news! Received email that all 3 accounts were being deleted from CRA!!!!!!!! I was so excited I didnt even hit the snooze button 3 times like normal LOL!!!

THANK YOU nfrederick for the contacts

& THANK YOU rckstrscott even though I didnt receive the contacts from you seems like youre the initial person that gave these contacts out!!

Cheers!!

Collection accounts:

ENHANCED RECOVERY - TransUnion (DV Letter sent 11/14/2012)

Balance- $1,454

Date Opened- 4/12

~~EOS CCA - Experian, Equifax, TransUnion (DV Email sent 11/15/2012 to direct contact received via this forum)~~

~~Balances- $678, $1,518, $378~~

~~Date Opened- 8/1/2012~~

Receieved email on 11/16/2012 stating they were pulling ALL 3 accounts they had on my report!!! Im so excited thanks to these boards!!!

PACIFIC CREDIT EXCHANGE - Experian, Equifax, TransUnion (DV Letter sent 11/14/2012)

Balance- $9,016 (Repo Purchase)

Date Opened- 2/1/2012

MIDLAND FUNDING - Experian, Equifax, TransUnion (DV Letter sent 11/14/2012)

Balances- $461, $2,002

Date Opened- 12/1/2012, 11/1/2011

PINNACLE CREDIT SERVICES- Experian, Equifax, TransUnion (DV Letter sent 11/14/2012)

Balance- $1,405

Date Opened- 12/1/2009

ALLGATE FINANCIAL LLC - Experian (DV Letter sent 11/14/2012)

Balance- $475

Date Opened- 5/1/2009

RASH CURTIS & ASSOCIATES - Experian, TransUnion (DV Letter sent 11/14/2012)

Balance- $318

Date Opened- 6/1/2008

Charge Offs:

FIRST PREMIER BANK (623 Letter sent 11/14/2012)

Balances- $469, $518

Date Opened- 8/1/2009, 1/1/2009

A - L FINANCIAL CORP (Auto Loan) - Experian (623 Letter sent 11/14/2012)

Balances- $9,016

Date Opened- 2/1/2009

DSNB MACYS (623 Letter sent 11/14/2012)

Balance- $319

Date Opened-1/1/2007

CAP ONE

Balance- $0

Date Opened-10/1/2006

Current Accounts:

CAPITAL BANK (Open Sky Secured CC)

Balance- $282/300 (Never Late) WIll pay down $250 by next week to help util before statement cuts on 12/3

Date Opened-8/1/2012

First Tech Federal Credit Union (Secured Personal Loan)

Balance- $1000

Date Opened- 3 days ago (11/12/2012)
Payments: $29/mo over 36 months

Interest Rate: 3.1% (Only $49 interest over 3 years if i end up making minimum payments)

Applied Bank Secured Credit Card

Balance- $0/$200

Date Opened- 3 days ago (11/12/2012)

Credit Scores (FAKO)

Experian- 513

Equifax- 517

TransUnion- 541

Re: New Rebuild Journal Xwill04

madmann26 — Fri, 16 Nov 2012 21:30:06 GMT

Congrats!!

Re: New Rebuild Journal Xwill04

CollectionKing — Fri, 16 Nov 2012 22:09:20 GMT

Keep it up!! I'm thinking about starting my rebuild thread soon.

Re: New Rebuild Journal Xwill04

xwill04 — Fri, 16 Nov 2012 22:31:09 GMT

Thanks NFrederick! Got the idea from madmann26

Sent out experian disputes today via cmrrr using jack attack method.

If they come back verified hopefully I can use whatever I get back from CA (if they even respond) for my second round of disputes. If exp fails to investigate (I've disputed early this year) I will BBB them to force them to investigate.

Hope it works will keep u guys posted. Excited to see what my score looks like once the 3 CA drop off my report an once my $3 balance on credit card reports!

Re: New Rebuild Journal Xwill04

sphinx313 — Sat, 17 Nov 2012 00:37:58 GMT

Progress already. I told ya I'll be keeping tabs on your situation. Very nice start. I can only hope for that with First Premier/Accounts Receivable Management since they assigned them to collect.

Re: New Rebuild Journal Xwill04

xwill04 — Sat, 17 Nov 2012 00:51:11 GMT

Thanks sphinx313
Good luck with 1st premier from everything I read seems like they are close to impossible to get rid of..

I'm thinking about opening $500 secured credit card with my CU... Do you guys recommend I open it or increase my limits with the other 2 cards?? Seems like 3 cc would be a good mix to rebuild a good amount of solid history..

Re: New Rebuild Journal Xwill04

sphinx313 — Sat, 17 Nov 2012 00:55:50 GMT

If you don't currently have three revolving accounts, I would go with opening the new one. That way, the inquiry and the hit to AAoA will not be affecting you as much and will grow while you fight off the baddies.

Re: New Rebuild Journal Xwill04

xwill04 — Sat, 17 Nov 2012 01:00:56 GMT

That's what I was thinking that way all my accounts can be around same age and also build a better history with my CU other than the secured loan and checking account.

Thanks for the advice!

Re: New Rebuild Journal Xwill04

madmann26 — Sat, 17 Nov 2012 01:02:56 GMT

It also gets you maximum point growth with the utilization under 9%.

Re: New Rebuild Journal Xwill04

xwill04 — Sat, 17 Nov 2012 01:08:35 GMT

My equifax just jumped to 551 without any noticeable changes.... Could this be because I started a dispute with equifax on some of the items?

Re: New Rebuild Journal Xwill04

sphinx313 — Sat, 17 Nov 2012 01:10:30 GMT

I saw a decline in my score when my disputes came back because they updated the late reporting. This could be from some aging or a utilization change or something like that.

Re: New Rebuild Journal Xwill04

xwill04 — Sat, 17 Nov 2012 01:12:24 GMT

Weird.. Also got hit with an inquiry from Cap 1 today.. Is tht normal for creditors to do a credit pull when u dispute?

Re: New Rebuild Journal Xwill04

Cadillac-XTS — Sat, 17 Nov 2012 01:36:58 GMT

Congrats

Re: New Rebuild Journal Xwill04

xwill04 — Sat, 17 Nov 2012 01:49:50 GMT

Thanks credit314!

Re: New Rebuild Journal Xwill04

xwill04 — Sat, 17 Nov 2012 08:39:44 GMT

just refreshed my report... All 3 EOS CCA have fallen off my experian report... but only 12point increase??? **bleep** :smileysad:

That was 3 latest collection accounts....

ugh gues when you have so many collections 3 doesnt make much of a difference..

looks like midland and the auto repo/collection need to go next to see significant increase