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Valued Member
Johnny-Credit
Posts: 60
Registered: ‎08-18-2011

Re: Rebuilding Help

I am sorry - Can you define what a PFD is?

Established Contributor
kjm79
Posts: 1,008
Registered: ‎01-22-2008

Re: Rebuilding Help

Sure, it's a pay for delete.  Where you offer to pay them the amount owed in exchange for them deleting the account from your reports.  They do not have to agree to this, but if you check out the rebuilding forums you will read all sorts of success stories of membes who have been successful in getting derogatory info removed by using pfd or GW (goodwill) letters.  Goodwill letters are used to ask for deletion of paid derog accounts or removal of late payments.  May want to check out the rebuilding forum for some helpful letters. 


Starting Score: TU? EQ 585 EX? (12/06) (CH 7 bk 11/04)
Current Score: (5/12) TU 699 (myFICO) TU 709 (WalMart) EQ 690 EX 686 (CC denial 7/11)
Goal Score: 720 Across the Board by Mid 2012
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Valued Member
Johnny-Credit
Posts: 60
Registered: ‎08-18-2011

Re: Rebuilding Help

KJM,

 

I called them and offered to pay it for a delete and they said that is illegal. I thought for the small amount that made sense. Is there a letter for the PFD? I thought maybe if I got an attorney they would be willing to negotiate.

 

You have been amazing! I really appreciate you investing in me.

 

Johnny Credit

Established Contributor
kjm79
Posts: 1,008
Registered: ‎01-22-2008

Re: Rebuilding Help

It's not illegal.  But what they are referring to is that what they report has to be fair and accurate by law.  But there is no law that says they have to report.  I'd try and write a letter instead of talking to someone on the phone. 

 

I'd start by taking a look at these threads:

 

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/What-Steps-Do-I-Take-Do-I-DV-PFD/td-p/337142

and

http://ficoforums.myfico.com/t5/General-Credit-Topics/Frequently-Requested-Threads/m-p/10675

 

Both have great info!  And you're very welcome.  This site is full of wonderful information from people that have been there or are still stuck there.  We all help each other!


Starting Score: TU? EQ 585 EX? (12/06) (CH 7 bk 11/04)
Current Score: (5/12) TU 699 (myFICO) TU 709 (WalMart) EQ 690 EX 686 (CC denial 7/11)
Goal Score: 720 Across the Board by Mid 2012
Take the FICO Fitness Challenge
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: Rebuilding Help


Johnny-Credit wrote:

KJM,

 

I don't use Orchard Bank at all $500 - Credit Limit

I use and keep a balance on the First Premier - $200 Credit Limit

I use and don't keep any balance on the Capital One - $1,000 Credit Limit

 

My hope would be to get a card with a $5,000 credit limit and eliminate the Capital One card

 

Bluntly, I would like an AMEX but don't think I have any chance from the posts I have read about the "blacklist" especially with them writing off $42K 10 years ago


Why keep the First Premier and get rid of Capital One.   That is the opposite of what I would recommend.

 

IMO, AMEX does backlist, so I would forget about them forever,.  

 

Valued Member
Johnny-Credit
Posts: 60
Registered: ‎08-18-2011

Re: Rebuilding Help

KJM,

 

Thanks for those threads.

 

May I ask, do you think I should attempt to apply for a card at this point or wait?

 

Also, I never receive any "pre-approved" offers in the mail. Should I wait for that to happen first?

 

Thanks!

Valued Member
Johnny-Credit
Posts: 60
Registered: ‎08-18-2011

Re: Rebuilding Help

Wolf,

 

The First Premier is older than the Capital One but I understand your thoughts. I just closed the $300 credit limit FP. I was tired of paying $6 a month and the annual fee came due.

 

In regards to AMEX, it has been 10 years and the judgement is closed on the court record. Though I never paid it. Do you think if I offered them something ($2K - $5K) they would remove me from the blacklist?

 

Thanks!

Established Contributor
kjm79
Posts: 1,008
Registered: ‎01-22-2008

Re: Rebuilding Help

If you're current goals are to get a mortgage and a better score, you probably don't need any other cards.  You have 3 and that's good. Just keep paying them on time, especially if you want a mortgage in the next 12 months (lenders want clean positive credit for at least 12 months these days).  Garden the cards you have now.  And like Wolf said, keeping the Crap1 is better than the FP.  If you junk the Cap1 you will lost thae $1k in available credit and your utilization will be very sensitive to that loss.  FP won't grow with you either, whereas with Cap1 there is some room for growth. 

 

If you're aren't opted out and are not receiving any pre-approvals that probably means you aren't matched with any lenders right now.  If you are opted out, you won't get any pre-approvals at all. 


Starting Score: TU? EQ 585 EX? (12/06) (CH 7 bk 11/04)
Current Score: (5/12) TU 699 (myFICO) TU 709 (WalMart) EQ 690 EX 686 (CC denial 7/11)
Goal Score: 720 Across the Board by Mid 2012
Take the FICO Fitness Challenge
Regular Contributor
castlefox
Posts: 227
Registered: ‎12-09-2010

Re: Rebuilding Help

I thought it was not possible for them to delete the charge off.  But it would not show up as late any more if you paid it in full now.

 

 

MyFICO score- Equifax - 12.03.11 - 780 Experian 12.03.11 - 763
(FAKO Scores) EXP PLUS Score Dec 2011. 748
Advanced Risk Score 2.0 (NextGen) 793 Dec 2010
Vantage Score (2011) MAR = 771 Jun = 771 Sept= 788 Dec= 773
2012 MAR = 782 JUN=783 Dec = 789
2013 Mar-796 Jun-799 Dec- 797
Valued Member
Johnny-Credit
Posts: 60
Registered: ‎08-18-2011

Re: Rebuilding Help

KJM.

 

1.) When you say "Garden the cards I have now" - What do you mean?

 

2.) How do I know if I opted out sometime in the past? When my credit score approves will I automatically start receiving offer?

 

3.) I have not had any "hard pulls" on Experian - 1 on TU (not sure who this is

Old - 07/06/2011 New - 07/11/2011 Comparison

Creditor Name:

WFHM/WB WFHM/WB

Date of Inquiry:

02/24/2010 02/24/2010

 

Three on Experian

Inquiries that may impact your credit rating

These inquires are made by companies with whom you have applied for a loan or credit.

Name of Company Date of Inquiry

AZUMA LEASING 09/07/10

Creditor Contact Information

AZUMA LEASING

2905 San Gabriel St Ste 21

Austin, TX 787053500

(512) 707-1177

CLEARWIRE CORPORATION 03/20/11

Creditor Contact Information

CLEARWIRE CORPORATION

03/20/11

3525 E Post Rd

Las Vegas, NV 891206214

HSBC BEST BUY 03/20/11

Creditor Contact Information

HSBC BEST BUY

03/20/11

PO Box 15518

Wilmington, DE 198505518

 

 


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