topic Re: Starting over...NEED help in Rebuilding Your Credit

Starting over...NEED help

changeisvital — Wed, 05 Dec 2012 13:51:57 GMT

I have been so inspired by the blogs in this forum that I am committed to starting over and rebuilding my credit. The only problem that I am having is that I have several late payments showing from Santander in the last 24 months. How should I go about sending my GW letter, mail or email? What exactly should I be asking for? I have read on some of these forums that Santander is good about deleting late payments for their customers. Also, I am going to pay my car off by the end of Dec., should I send the GW letter before or after I pay the car off?

I just got a secured credit card through my credit union (Vystar) for $1000 with a 13% APR. My plan is to get another secured card from BofA in the beginning of Jan. I have no other active credit cards or revolving CL's.

Starting FICO: 495 EQ

Goal Score: 640s (to start)

Re: Starting over...NEED help

annielorie — Wed, 05 Dec 2012 14:17:30 GMT

Both email and mail this is the giving and caring season. Yes on the Bank of America as Fico gives top points with two or more cc's besides Santander lates any other derogs and how old os your oldest account

Re: Starting over...NEED help

changeisvital — Wed, 05 Dec 2012 14:21:25 GMT

I have some older CA accounts and CO's. I do not have any other active accounts with dergo's.

Re: Starting over...NEED help

annielorie — Wed, 05 Dec 2012 14:24:52 GMT

Are they paid?

Re: Starting over...NEED help

changeisvital — Wed, 05 Dec 2012 15:29:44 GMT

No they are not. I am just starting this journey. From what I have read, it's best to begin with the letters i.e. DV, PFD, etc.

Re: Starting over...NEED help

annielorie — Wed, 05 Dec 2012 15:55:43 GMT

Yes this is a great time for PFD. Persistence is key. Do not admit to debt but inquire about PFD after verified through CRA cause if they are that old the reporting CA may not own the debt anymore. How many CO and with whom and what is the DOFD's

Re: Starting over...NEED help

changeisvital — Wed, 05 Dec 2012 16:00:12 GMT

I have 3 CO's and none of them SOL will be up until 2015.

Re: Starting over...NEED help

annielorie — Wed, 05 Dec 2012 16:02:57 GMT

I would verify one at a time. They may not be still with that CA that is reporting but also word of caution when you start have the funds available to Pay in full so you dont triigger a lawsuit.

Re: Starting over...NEED help

changeisvital — Wed, 05 Dec 2012 16:10:17 GMT

Thank you for the advice! I will definitely make sure I have the funds before I contact the companies.

Re: Starting over...NEED help

jadeite788 — Wed, 05 Dec 2012 16:11:24 GMT

Rumor has it Santander might be in a class action lawsuit. I can't say more . I am also in the midst of paying off my car loan from Santander this month , however I have errors on my account. But its good to start out with GW. The credit card is a good start, it raised my credit score instantly. You are lucky, my credit limit is at $500.00.

Re: Starting over...NEED help

changeisvital — Wed, 05 Dec 2012 16:52:08 GMT

Reply to: Jadeite788

I will send the GW to see if it is possible for any deletions for late payments but I am wondering would it be best to wait until after I pay the car off this month? My credit limit on my secured card is $1000 because that is the amount that I gave as my CD Deposit for the card. When I get one through BofA I will probably do one between $500-800.

Re: Starting over...NEED help

annielorie — Wed, 05 Dec 2012 17:26:44 GMT

Start goodwilling now during holiday season people are more inclined to help

Re: Starting over...NEED help

changeisvital — Wed, 05 Dec 2012 17:53:04 GMT

Will do!!! Thanks again for the help!

Re: Starting over...NEED help

annielorie — Wed, 05 Dec 2012 18:22:07 GMT

Anytime Good luck

Re: Starting over...NEED help

KevinBlock55 — Wed, 05 Dec 2012 21:55:00 GMT

The first step is recognizing you gotta start cleaning it up! Congrats and welcome

Re: Starting over...NEED help

changeisvital — Wed, 05 Dec 2012 21:57:56 GMT

I definitely regonize that!