First off, hello all! I've been lurking around since I signed up earlier this week, making sure I am not putting the T3 connection we have at work to waste. Just to bring you up to speed with what's going on with me, I am trying to recover from a series of BAD decisions from 2005. I pulled my EQ credit report earlier this week and found that I currently have about 6 CO's (like how I've caught up to your jargon?), 4 credit accounts all of which are showing a last payment in or around 2006-2007 (I'm hoping the Statute of Limitations takes over this and that I am able to dispute these off my CR - I am in Cali). The other 2 negative/closed accounts that are showing up are from collection agencies - none of which show where the debt originated from or any last payment dates. The amount of all accounts once added is around $5096 - including the amount owed to collections agencies.
Newbie questions are one, am I correct in thinking that I can get the negative accounts removed from my CR given that the statute of limitations in California is 4 years? Two, I am not receiving any calls from any collection agencies, but know that to be able to remove these from my CR, I need to contact them and tell them to take a hike - and that might not work out well for me.
So basically what I am looking for is a little guidance on how to proceed.. I've learned my lesson the hardest way possible and am looking for a fresh start. On that note, I am glad to announce that I have just gotten approved for 2 CCs, Orchard Bank Classic (unsecured) with a $300 limit, and CapOne (secured) with a $200 limit - option to add on of course as you all know. I am still awaiting response from Citi for a Shell gas card and Amazon for a store card - although I am now aware that store cards don't really do much for revolving credit except lower your score once you apply. Also trying to convice the girl to add me on to one of her Chase CCs as an AU to bump me up a little.. Maybe I can butter her up by buying her something using one of my new cards. 
Really looking forward to insight from everyone here. The board has been extremely informative and helpful thus far and I'm looking forward to being able to make my own contributions soon.
Thanks for stopping by!
Mau
@chaimanmau wrote:First off, hello all! I've been lurking around since I signed up earlier this week, making sure I am not putting the T3 connection we have at work to waste. Just to bring you up to speed with what's going on with me, I am trying to recover from a series of BAD decisions from 2005. I pulled my EQ credit report earlier this week and found that I currently have about 6 CO's (like how I've caught up to your jargon?), 4 credit accounts all of which are showing a last payment in or around 2006-2007 (I'm hoping the Statute of Limitations takes over this and that I am able to dispute these off my CR - I am in Cali). The other 2 negative/closed accounts that are showing up are from collection agencies - none of which show where the debt originated from or any last payment dates. The amount of all accounts once added is around $5096 - including the amount owed to collections agencies.
Newbie questions are one, am I correct in thinking that I can get the negative accounts removed from my CR given that the statute of limitations in California is 4 years? Two, I am not receiving any calls from any collection agencies, but know that to be able to remove these from my CR, I need to contact them and tell them to take a hike - and that might not work out well for me.
So basically what I am looking for is a little guidance on how to proceed.. I've learned my lesson the hardest way possible and am looking for a fresh start. On that note, I am glad to announce that I have just gotten approved for 2 CCs, Orchard Bank Classic (unsecured) with a $300 limit, and CapOne (secured) with a $200 limit - option to add on of course as you all know. I am still awaiting response from Citi for a Shell gas card and Amazon for a store card - although I am now aware that store cards don't really do much for revolving credit except lower your score once you apply. Also trying to convice the girl to add me on to one of her Chase CCs as an AU to bump me up a little.. Maybe I can butter her up by buying her something using one of my new cards.
Really looking forward to insight from everyone here. The board has been extremely informative and helpful thus far and I'm looking forward to being able to make my own contributions soon.
Thanks for stopping by!
Mau
Sorry but Statute of Limitations means the debt can be collected, you don't legally owe the money. It has nothing to do with your credit report. The CO will come off in 7.5 years. So if you do nothing, your CR will be clear in 2 or 3 years.
It is good that you started rebuilding your credit with Capital One and Orchard. Store cards add to your credit history just like the others, I recommend them if you are a regular customer. .
Thanks for all the responses! Looks like I have a little more waiting to do before I can get back up the charts.. Will lurk more to learn more about proper util of these low limit CCs
@chaimanmau wrote:First off, hello all! I've been lurking around since I signed up earlier this week, making sure I am not putting the T3 connection we have at work to waste. Just to bring you up to speed with what's going on with me, I am trying to recover from a series of BAD decisions from 2005. I pulled my EQ credit report earlier this week and found that I currently have about 6 CO's (like how I've caught up to your jargon?), 4 credit accounts all of which are showing a last payment in or around 2006-2007 (I'm hoping the Statute of Limitations takes over this and that I am able to dispute these off my CR - I am in Cali). The other 2 negative/closed accounts that are showing up are from collection agencies - none of which show where the debt originated from or any last payment dates. The amount of all accounts once added is around $5096 - including the amount owed to collections agencies.
Newbie questions are one, am I correct in thinking that I can get the negative accounts removed from my CR given that the statute of limitations in California is 4 years? Two, I am not receiving any calls from any collection agencies, but know that to be able to remove these from my CR, I need to contact them and tell them to take a hike - and that might not work out well for me.
So basically what I am looking for is a little guidance on how to proceed.. I've learned my lesson the hardest way possible and am looking for a fresh start. On that note, I am glad to announce that I have just gotten approved for 2 CCs, Orchard Bank Classic (unsecured) with a $300 limit, and CapOne (secured) with a $200 limit - option to add on of course as you all know. I am still awaiting response from Citi for a Shell gas card and Amazon for a store card - although I am now aware that store cards don't really do much for revolving credit except lower your score once you apply. Also trying to convice the girl to add me on to one of her Chase CCs as an AU to bump me up a little.. Maybe I can butter her up by buying her something using one of my new cards.
Really looking forward to insight from everyone here. The board has been extremely informative and helpful thus far and I'm looking forward to being able to make my own contributions soon.
Thanks for stopping by!
Mau
Welcome to the forums!!!
I think it would suit you best to garden your new accounts for 1 year and add deposits to your secured card. This will help you get decent limits a year from now.
