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Frequent Contributor
jaguls66
Posts: 356
Registered: ‎06-06-2007

Re: Confession Good for the Soul?

the only CCs open, are my new 300$ secured, and am not sure of the APR, left paperwork at home. and on that may be in collections soon, 300 limit 453 with lates and fees.
Established Member
Redbud
Posts: 32
Registered: ‎06-24-2007

Re: Confession Good for the Soul?

[ Edited ]
My score is currently in the 'bad' range as well.  However, I have learned TONS on this board and have put a little of it to use already.  I am in no position to be telling you or anyone else how to improve a score, but I can tell you what I have done so far to help my situation.  Since I started on this board only a week ago, I have employed a number of the tactics I found here.  Here's what I've done so far:
 
1) Called my CC company that had a 29.99% interest rate.  I called about something else and during the conversation when they ask you what else they can do for  you, I said they could lower my interest rate and THEY DID!   Long story short.....I got a 10% interest rate deduction!
 
2)  I paid a collection that was only 4 months old ($156).  I called them back the next day and asked if they would be so kind as to remove the collection from my credit report.  At first they said they would report it as paid.  I repeated my request for them to REMOVE it, and they said OK!!!!
 
3) I applied for and received a low limit low interest new credit card to decrease overall utilization and to have an account where there will be NO lates!
 
4) I paid off one CC in its entirety and got 2 others under 10% utilization.  I have two cards left which total about $7000 and I'm going to try and put both of them (or at least one of them) under 30% util within the week.
 
Don't be afraid to ask for some concessions from the collection agencies.  They don't get paid if they don't recover.  So 40% of something is better than 40% of nothing. (or whatever their recovery rate is)
 
I'd inventory the brain power on this board - would it be helpful for you to negotiate settlements with these collections (say 30cents on the dollar or whatever works for you)??  It would probably show as "settled" on your credit report, (for those who refuse to PFD), as opposed to "paid in full". But at least they would be done with.  What is the board's opinion on negotiated settlements and the effect it has on your score?
 
You don't say what your financial resources are....is $6,000 doable for you even if it takes a few years?  Make a plan and work it!
 
Good Luck! 


Message Edited by Redbud on 06-28-2007 09:59 AM
Frequent Contributor
jaguls66
Posts: 356
Registered: ‎06-06-2007

Re: Confession Good for the Soul?

6k is not out of reach over a few years. Just with trying to right my MANY MANY financial wrongs, several that do not show on my CR, Funds are very very tight. TO the point than one extra trip to work late at night to fix something means I may be out of gas before payday rolls around. Thank GOD for my garden, since I had about 12.00 for groceries last week. Lots and lots of grilled zucchini in my future, and homemade pickles. Fortunatly it is only me.... I know that with time it will be better, and havae a much better out look on my credit future thanks in great part to folks on this board. Which I seem to have become addicted to.
Established Contributor
Cory
Posts: 670
Registered: ‎03-15-2007

Re: Confession Good for the Soul?



Boswd wrote:
take it one collection at a time.   do some lifestyle changes.   Buy groceries with coupons, buy store brand items,    If you have a cable modem downgrade to dial up,   if you cable TV down grade to the basic or just get rid of it all together,  get rid of a phone if you have both cell and landline  many ways to save a buck
 
Good luck to you and just remember take it one collection at a time.  I would start with the smallest one first and work your way up using the snowball method.   All I would be doing my reputation an injustice if I didn't recommend  Dave Ramsey's Total Money Makeover.
 
Good luck.


I can learn a lot from you. Let's have some coffee and tea, lol
 
Cory
1. American Express Blue Cash Preferred~2. BankAmericard Cash Rewards World MasterCard~3. BankAmericard Travel Rewards Visa Signature ~4. Discover It~5. Citi Forward Visa Signature~6. CCCU MasterCard.
Established Member
Redbud
Posts: 32
Registered: ‎06-24-2007

Re: Confession Good for the Soul?

I too have become addicted!  But it's a good addiction!  Is there anything else you might be able to do for some extra income? Your will to recover from this is your strongest tool.  I love grilled zucchini and it's healthy too!
Established Contributor
Cory
Posts: 670
Registered: ‎03-15-2007

Re: Confession Good for the Soul?



Redbud wrote:
I too have become addicted!  But it's a good addiction!  Is there anything else you might be able to do for some extra income? Your will to recover from this is your strongest tool.  I love grilled zucchini and it's healthy too!


 
You'll get it done. Don't worry.
Sounds great, I'll bring some ribs.............since the 4th is next week. Then we'll sit and talk all about our credit reports, lol
 
Cory
1. American Express Blue Cash Preferred~2. BankAmericard Cash Rewards World MasterCard~3. BankAmericard Travel Rewards Visa Signature ~4. Discover It~5. Citi Forward Visa Signature~6. CCCU MasterCard.
Frequent Contributor
jaguls66
Posts: 356
Registered: ‎06-06-2007

Re: Confession Good for the Soul?

[ Edited ]
I loved it to til I had eaten most every nite for 4weeks now. After mid July when I have family coming to visit I am going after a second job. Part-time. In the midst of trying to rebuild my credit, my car is dying and I will need to get a new one in a few months. I am trying to get my scores up as much as possible between now and January. So I can get a nice car, then Refi it after my scores improve, since I know I am going to get jammed with a bad interest rate.

Roadloans said they my be able to finance me when the time comes. Since I have two autos PIF, they just where at places that do not report, Buy Here, Pay Heres.

Message Edited by jaguls66 on 06-28-2007 07:14 AM
Valued Contributor
Boswd
Posts: 1,065
Registered: ‎04-26-2007

Re: Confession Good for the Soul?



Cory wrote:


Boswd wrote:
take it one collection at a time.   do some lifestyle changes.   Buy groceries with coupons, buy store brand items,    If you have a cable modem downgrade to dial up,   if you cable TV down grade to the basic or just get rid of it all together,  get rid of a phone if you have both cell and landline  many ways to save a buck
 
Good luck to you and just remember take it one collection at a time.  I would start with the smallest one first and work your way up using the snowball method.   All I would be doing my reputation an injustice if I didn't recommend  Dave Ramsey's Total Money Makeover.
 
Good luck.


I can learn a lot from you. Let's have some coffee and tea, lol
 
Cory



LOL  if you are ever in Boston let me know and we will  :smileyvery-happy:
Established Contributor
Cory
Posts: 670
Registered: ‎03-15-2007

Re: Confession Good for the Soul?



Boswd wrote:


Cory wrote:


Boswd wrote:
take it one collection at a time.   do some lifestyle changes.   Buy groceries with coupons, buy store brand items,    If you have a cable modem downgrade to dial up,   if you cable TV down grade to the basic or just get rid of it all together,  get rid of a phone if you have both cell and landline  many ways to save a buck
 
Good luck to you and just remember take it one collection at a time.  I would start with the smallest one first and work your way up using the snowball method.   All I would be doing my reputation an injustice if I didn't recommend  Dave Ramsey's Total Money Makeover.
 
Good luck.


I can learn a lot from you. Let's have some coffee and tea, lol
 
Cory



LOL  if you are ever in Boston let me know and we will  :smileyvery-happy:


It will be my greatest pleasure!
1. American Express Blue Cash Preferred~2. BankAmericard Cash Rewards World MasterCard~3. BankAmericard Travel Rewards Visa Signature ~4. Discover It~5. Citi Forward Visa Signature~6. CCCU MasterCard.
Valued Contributor
Boswd
Posts: 1,065
Registered: ‎04-26-2007

Re: Confession Good for the Soul?



Redbud wrote:
I too have become addicted!  But it's a good addiction!  Is there anything else you might be able to do for some extra income? Your will to recover from this is your strongest tool.  I love grilled zucchini and it's healthy too!



There soo many ways,   I have dropped my " I need Ralph Lauren and J Crew" labels andfound out Wal-Mart is a beutiful store.  If you asked me 3 years ago if I would buy my clothes there, I would and  laughed at you, but when you have to restructure you life, your eyes get opened up and to find that not only is Wal-mart exceptionally cheaper but their clothes are actually pretty nice.   Aslo is great for everyday shopping since they do offer all the big name products but at a much cheaper price.   Won't even think of going to Best Buy or Sears for a TV or electronics  Wal Mart kills them.
 
One of the biggest ways to save money is just really cut out eating take out or dining out.   I know it sounds very basic but you would be surprised on how much you do this without even knowing.   My wife and I ran bank statements for 3 months before we started doing this and we averaged about $150-$200 a month on take out and eating in restaurants.    I'm not saying you have to be a hermit and you should treat yourself once in a while but if you do eat out alot and do alot of take out, you would be amazed at how much you can save if you cut that in half or in 3/4's

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