Hello Fellow myFICO friends,
This is my first time posting on the forums here so bear with me if I come off noobish 
I currently have ScoreWatch active and my credit score is 617, pretty low I know. A little background about my past; I was the typical teenager who hit 18 and got flooded with CC invitations galore. Took on one too many and got caught up in the mess. Paid off some and hit a hard point with a couple. One was with Circuit City and being the techy I am I burned through a $2,000 limit fast. What I didn't know what was coming after that was I would hit a rough patch on employment in addition to going to school full-time. Tried keeping up with the payments to keep the 0% interest rate but soon felt to the mercy of a 22% interest rate with 2 missed payments.
Fast forward to today..... Circuit City charged off the debt but it was sold to AAC with a DoLA as May 18, 2008. Almost 4 years which is the Texas, my current residence, SOL. Now with AAC it also says Date Opened April 2010 and seeing as I haven't touched it I.E. made any contact payments or such I figured I wouldn't wake the sleeping giant since SOL is almost up. Now correct me if I'm wrong if SOL doesn't count starting DoLA.
Now that was the only real threat I saw when I got a Power Score Report back in January of 2012. Today I got a new one and I see a new Account similar to AAC called Midlandmcm with a balance of $2,522 and DoLA at Nov, 2007. Never seen it before and not sure where it came from. So now AAC and Midlandmcm are on my Accounts Tab. I have no Collections, Public Records.
Only Accounts with Negative Indicators
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Midlandmcm - DoLA - Nov, 2007. Date Opened Sep,2010. Balance of $2,522.
Chase/CC - DoLA - May, 2008. Date Opened Oct, 2006. Balance of $0. $1500 Charged off. Account Transferred or Sold.
WFB(Wells Fargo) CC - DoLA - Aug, 2007. Date Opened Jan, 2006. Balance of $0. $773 Charged off. Account Transferred or Sold.
I am currently a full-time college student. I receive approx $5,000 in a school refund each semester which is to pay rent, utilities, food, etc. I am also on the part-time job hunt. I am curious if anyone is able to give any advice or tips on how I should proceed with those items on my credit report, as someday I wish to be in the 800 club . I currently pay everything on time as I have grown up, am 24 going on 25 in June.
Thank you for reading and I appreciate any advice, tips, wisdom
Sincerely,
Super Dave
Starting Score: EQ 497 TU 504 EX 484
It would seem like the 2 outstanding balance collections are from the 2 charge offs but only one would make sense. WFB the balance stopped at $773 on the charge off. I haven't made any contact or payments at all since the delinquency. I'm not too worried about the collectors as they haven't harassed me or given any calls to me in over a year. When they did call I never responded. I'm mostly just looking for what I can do with the accounts on my CR. Is there any way to get them off w/o restarting the SOL? I'm just looking for advice on how I can combat this because my credit score started in the 570s and peaked at 628 but dropped 11 points when MCM was added. Thanks for your quick response
Bumpity Bump. Anyone else got some tips/advice?
Before you do anything, Like RobertEG said, what is the DOFD of the accounts? The date of last activity isn't important. Before messing with any OC and CA accounts you need to know if they can still pursue the debt legally. If they can, then you can attempt to negotiate PFD's, but will have to be prepared to pay the full balance of what's owed. If they are past SOL, you can negotiate PFD's for the full or lesser amount. For the charge off accounts that are reporting zero balances all you can do is send GW letters asking for removal. Chase is pretty good with GW requests, I don't know about Wells.
