Credit repair journey, where to start? Feeling overwhelmed and depressed.

[Anonymous]

Credit repair Journey, where to start?
Here are the details links to resources are fine! I dont mind reading just need a little guidance which way to go.
By the way, I know these are horrible. I was in a tough spot and got stuck in a hole. I need to get out!
I want to know what you would do and which you would prioritize taking care of first.

Fico scores currently range from 550-590
Negative Items:

credit one charge off 0 balance sold to lnvn who I cant get ahold of directly and will only speak through their law office"harris & Zide" who have recently offered a settlement of 950 dollars.
original balance of card without interest was 1150. Lvnv so far has not reported so im crossing my fingers they dont.

Lending club:
chargeoff for 2800 dollars, made a deal with who they sold it to to not report in exchange for 100/month. So no collection but still says "charge off and transferred to another lender or claim purchased."

OPP loans reporting twice(only one account) one says closed, current balance-. The other says closed deragatory, balance 2888. I did make a small payment last month so I'm trying to find record of that now
but when I do what can I do with this? They still own the account.

Alphera financial. Car loan currently up to date, but has 8, 30 day lates on it( basically id pay a little late everytime due to financial constraints).

Amex has 4 lates on it 3(30 days), one 60 days), card was closed but has been in good standing for one year.

Medical bill sent to collections (not currently reporting due to an agreement but they want 5k by december which I dont have). What can I do with this?

Synchrony-closed, one 30 day late(plan to Goodwill this)

Positive Items:
4 installment loans that were paid on time and are now closed.
one amex as authorized user 10k limit,2k utilized
nissan account closed but was always paid on time
walmart-closed but always paid on time
target-closed but always paid on time
Capital one-open and paid on time, now at 30% or below
bank of america-open,always paid on time, 30% or below

[Anonymous]

See my "11 rules" signature link for some starter ideas.

Also, my "Triple Whammy" credit rebuilding process:

1. Build new credit -- you want 3 credit cards open and paid responsibly, so look at the Discover prequalify to see if you can snag their awesome secured rewards card.  You also have no installment loans open anymore, so immediately do the Alliant SSL today (my signature link).  Your utilization is not good because 30% is a risk tier.  You want them under 28.9% including interest that posts.  If you're paying interest, you are not credit rebuilding anymore, you're now collecting debt which is the wrong thing to do.  Make a brand new budget and never pay a penny of credit card interest again.  Also, you want to follow the AZEO Method with 3+ credit cards (see my signature link again).
2. Fix derogatory notes -- this includes sorting items by what you can afford to pay, and then attacking them individually with "Pay For Delete" letters.  LETTERS, not phone calls.  Get started on each, and keep trying if they say no.
3. Build wealth -- you should be putting 10-20% of your monthly spending into savings.  Today.  If you can't afford it, get a second job (Uber/Instacart are great).  If you work 2 jobs, get a third job.  Putting 20% a month into savings means in 5 months you'll have an entire month saved.  Your goal here is to have 6 months saved.  This means paring down your spending significantly until you get to 6 months in savings.  If you aren't saving money, you're building debt, and building debt got you (and me!) into the place you're in.

There's no reason you can't have your scores in the 650s+ in 1-2 years following my Triple Whammy of credit rebuilding.  But it requires doing all 3 things, not just 1 of them.

[Anonymous]

Any advice on how to get pay for deletes? I’m definitely saving. Actually building a business that is helping me with income significantly and my husband has a really good job now as well. Are secured cards still subject to credit even though you pay?

[Anonymous]

---

@Anonymous wrote:
Any advice on how to get pay for deletes? I’m definitely saving. Actually building a business that is helping me with income significantly and my husband has a really good job now as well. Are secured cards still subject to credit even though you pay?

---

Yes, go to the searchbar here in the "rebuilding forum" and type in Pay For Delete or try PFD.  Then read everything.  Take 2-3 days to read everything.  If it takes a week to read it all, read it all.

Building a business is great, but be cautious assuming it will be a consistent income.  Don't rely on future hopes to rebuild today.  When I started my first business I worked 4 other jobs at the same time, and when I started a new business in my 30s, I worked 2 other jobs!

Secured cards are subject to credit, yes, but Discover's prequalification page is solid and if it shows you a Discover Secured, get it.  It's my favorite secured card.