Advice about PFD to GEMB/Jc pennys

[Anonymous]

I had a jc penny credit card that i believe is through GE money bank for a suit i bought for a wedding that was about $150. I paid on time for 7 months then fell into finacial trouble even though it was such a small debt. When i found out it was reported 90 days i started paying monthy again but the late charges had brought it up from 30 dollars to 300+. its now down to $141. I have an auto loan, other credit card and never missed a payment on anything but because i have little credit history this is crushing my score im 26 and trying to build credit to buy a home. Do you think a PFD will work for me? Has anyone worked with GE before? If i can get this removed my score would jump atleast 100 points. I dont even know where to start. I dont know where to start.. would a goodwill letter be better? any advice would help thank you!

[AndySoCal]

I would work first on paying the account off  After that is done you can try the goodwill letters.

[jamesdwi]

GE Money bank is an awesome company to be on good terms with during rebuilding, I would recomend paying them and GW letters to re-establish your relationship. Perphaps calling and setup a payment program. 

Some GE cards/benefits include  CLI's ever 4 months

Walmart   free TU fico monthly if you go paperless  $40 in cash availbile with a purchase like a debt card and no cash advance fees.

Amazon  0% interest for 6 months if you purchase over $150. 

If you shop at either place I recomend the cards. 

[Anonymous]

Yea thanks for the advice. The money isnt an issue i have a very good and stable job now. I can easily pay off the 141 i owe. Its just iv read to not pay it off if you want to do a pfd because you lose your leverage and there is no garuntee they will accept the goodwill.