starting over advise

Anonymous · ‎09-27-2007

My husband and I started this year with scores in the 700's and very good credit history.

Now, over the last 2 years my husband has lost two jobs (after being at one for nearly 20 years)

We have been in survival mode. Trying to keep our house . Months of no income at all, etc.

So now everything on our reports except 2 credit union loans, our mortgage, and one small Dell account are very very late... like 6 months late. They were all never late until about April or May of this year and have been unpaid ever since. (so really everything is current except for a BOA card, a chase card and a cap one card. Everything else has remained current.)

DH got a new job last month with a good income again. Where do we begin? Last year we had very good credit and very good scores. Now they are dismal.

Will our cc companys cut us any slack ? We had a very good history with them, but when you are faced with keeping your home and feeding your family, or paying your cards, you feed your family.

Any advise to help us get back in good shape quickly would be really helpfull.

Anonymous · ‎09-27-2007

I truly understand your situation because that is where I am now. Here is what you can do with your cc companies. Ofcourse this is my opinion only. I used to work in collections at Nordstroms.

If you have money to bring the accout current:

1-Call the cc companies and ask for the retention or collection department.

2-Tell the rep about your situation, make it short because they receive bonuses on collecting payments, making arrangements and you keeping it as well as the number of accounts they work.

3-Ask the rep if you bring your account current can they remove the lates as a courtesy, they may say no at first but, if you have a good payment history in the past it will work in your favor.

For any of you that have a Nordstrom account, there is a good chance of getting the lates removed if you are bringing your accounts current at the time you are making a request.

Remeber this may or may not work, it depends on the rep you get on the phone and the ccc you are dealing with. Be nice to them and they will be nice to you.

Good Luck!

Anonymous · ‎09-27-2007

parrothead86 wrote:
My husband and I started this year with scores in the 700's and very good credit history.

Now, over the last 2 years my husband has lost two jobs (after being at one for nearly 20 years)
We have been in survival mode. Trying to keep our house . Months of no income at all, etc.
So now everything on our reports except 2 credit union loans, our mortgage, and one small Dell account are very very late... like 6 months late. They were all never late until about April or May of this year and have been unpaid ever since. (so really everything is current except for a BOA card, a chase card and a cap one card. Everything else has remained current.)

DH got a new job last month with a good income again. Where do we begin? Last year we had very good credit and very good scores. Now they are dismal.
Will our cc companys cut us any slack ? We had a very good history with them, but when you are faced with keeping your home and feeding your family, or paying your cards, you feed your family.

Any advise to help us get back in good shape quickly would be really helpfull.

Pull your CR and check to see if CC cards have been CO. Send them letters and explain what happened & see if they will let you PFD If they have (CO) Ask to keep cards if PIF and ask to remove late payments. They can only say NO.

You need to know what they have reported to CRAs!!!!! and go from there.