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Valued Member
backtogood
Posts: 29
Registered: ‎02-06-2013

Credit Journal, any advice would be appreciated

Hey all,

 

So after following this forum for several months now, I decided it time to start tracking and kicking myself into high gear to resolve my credit issues.

I believe with a little help and expertise in past experiences of all of yours I can succeed to my goals sooner.


I have started my rebuilding process roughly about 4 months ago.  No significant change yet, of course now my goal is to start tackling my delinquent accounts.

My reason for posting is anyone who can give me any good advice along the way would be greatly appreciative.

It would be nice to get back to the day, where I was able to apply for any credit card or any loan and have no hiccups, or issues. Self confidence is always nice.

 

With out further ado.  I signed up with myfico, one thing I did notice is that they are not displaying all of my trade lines.  I found that to be a little strange,

In comparison to my last pull that I did with my annual credit report, I am showing a discrepancy there. Of course my last pull was mid last year, my guess is some aged items have fallen off.. ??  Will be doing more research and comparison to this once I did through my old files for that report.

 

First, my attempts are to tackle my current delinquent accounts --  per "MyFico" my current score is 555.  

My current good accounts opened a few months ago... Cap1, and First Premier (Yuck)

 

Fst Premie 11/2012Bal-$277Pays account as agreedCL-300 
  Cap One 12/2012Bal$200Pays account as agreedCL-200

 

Both these accounts have never been late, I pay the Capital 1 accounts several times a moth, hoping for a possible CL increase in a few months, if not Will up my Secured deposit amount.. My current credit utilization is Basically 95%, frustrating to me, as these get paid off several times a month. Any suggestions on when both creditors report to the CRA with balance information?  Any way around this, in a timing aspect of when I should pay and keep balance low as possible?

I also have a paid collection with First premier back from 2010, I paid that off a few months ago, however not listed as C/O - Paid - suggestions on this?

 

Next is my student loan, Great Lakes and US Dept Of EDU.  Balance is 7988, the loan is currently in forbearance. My first mistake, gave up on this, and ignored it, now I know with simple communication with them they allow me to go into forbearance or post pone payments.  WIsh I new this before the neg effected this account.

90+ days late 10 times (Aug 2012, Jan 2012, Dec 2011, ect ---  

This is my first project,  I sent a GW Letter to Great Lakes, and waiting for a response, I don't know if it will do any good, but worth a shot at first.

 

No the worse of the worse --

Toyota MtrXXXXXX4/2010$7,396Bad debt/collectionThis account has late payments in the pastDetails
  Merch Natl 10/2006$0Contact member for statusNo 
  Toyota MtrXXXXXX12/2009$0

Pays account as agreed

 

The Toyota auto loan acct from 09, has 1 30 day, and 1 60 day.-- any suggestions?

The Toyota auto loan acct from 2010, is a repo - have no idea what to do with this one, advice please...

The merch Natl account - will fall off mid next year, also a repo -- think I Just will let this fall off and work on the most recent accounts??

 

THE Worse of the Worse of the Worse...

 

FED Tax Lien - Filed Aug 2010, apx balance of 10k -- think I may look into a Offer in Compromise to the IRS, but wish there was a way to negotiate removal of this from my credit..

 

Then as Follows are listed 3 minor Collection Accts:

TCF - $375, Joint acct, listed in Feb 2010

Century Link - $231, listed in Jun 2012

Also, another listing my repo in collections form the Merch Natl acct is listed here? Assigned Sep 2008?

 

That's basically it, I do have apx 10 other trade line accounts, in good standing from 2 autos loan, 2 credit card, and a list of secured and unsecured loans, going back from 2006 -- I figured no purpose listing those here --

 

I started yesterday, with disputing all my 30,60 and 90 day late accounts, updated address information and disputed bad addy information listed to my CR -

I disputed basically everything that had a negative small remark, expect for Toyota, Tax Lien, and the 3 Collection accounts - waiting for a response and will update from here -  Also will let you all know the response I get from Great Lakes on the GW letter I sent them --

 

Any advice is appreciated -- And apologize ahead for grammar, and the poor layout of my post.

 

Thanks in advance - James

 

 

CL's: Cap1 Sec $300 / Cap1 Pref $300 / FPBank $300 / FH $100 / Jared $1500 / Discover $2000
Moderator
Shogun
Posts: 12,890
Registered: ‎04-15-2011

Re: Credit Journal, any advice would be appreciated

Hello James and welcome to the forums.

 

There actually is a program with the Feds to remove liens, I'm not very familiar with it, but I've seen postings of it so that would warrant some investigation.  The Toyota account with the 30 and 60 lates isn't that bad.  They are minor derogs and lose their sting after a couple of years.  The Toyota Repo is the big baddie and it's very recent.  Is that the balance after the vehicle was sold at auction?  You might want to check into that.

 

Merch. Natl. has a little bit to go on the CRTP, but it's showing a $0 balance, so I would send a GW.  The others listed are small amounts so a PFD would probably be your best course with those.  Good luck with your GW and let us know what we can do to help.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Valued Member
backtogood
Posts: 29
Registered: ‎02-06-2013

Re: Credit Journal, any advice would be appreciated

Allright, spent most of the morning preparing these letters. I sent 2 PFD's to TCF & CenturyLink-Qwest. Regular snail mail, not certified. Im hoping this doesnt pose any problems? The rest will have to wait.  Since I have allready disputed them through the CRA allready - will wait to see those results

As soon as they are in I will let you know of any success..

Off to enjoy my Birthday - Thanks

CL's: Cap1 Sec $300 / Cap1 Pref $300 / FPBank $300 / FH $100 / Jared $1500 / Discover $2000
Moderator
Shogun
Posts: 12,890
Registered: ‎04-15-2011

Re: Credit Journal, any advice would be appreciated

The only ones that should be sent certified are DVs.  GWs and PFDs should just be sent regular mail, so you did right.  Best of luck on those and Happy Birthday!


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Valued Member
backtogood
Posts: 29
Registered: ‎02-06-2013

Re: Credit Journal, any advice would be appreciated

Got a response from Great Lakes, denied my request with the GW letter stating its against the law for them to minipulate accurate credit reporting.  Hmm, what next...

CL's: Cap1 Sec $300 / Cap1 Pref $300 / FPBank $300 / FH $100 / Jared $1500 / Discover $2000
Valued Member
backtogood
Posts: 29
Registered: ‎02-06-2013

Re: Credit Journal, any advice would be appreciated

My results came back from my dispute proccess with eq, updates have been made, score dropped 7 points to 548. Frustrating. no positive impact so far and no recent responses with the PFD letters I sent either. No one said this was easy, Lol.
CL's: Cap1 Sec $300 / Cap1 Pref $300 / FPBank $300 / FH $100 / Jared $1500 / Discover $2000
Valued Member
backtogood
Posts: 29
Registered: ‎02-06-2013

Re: Credit Journal, any advice would be appreciated

This is turning out to be a little more difficult than anticipated--

I ended up sending a GW letter out to merch bank for 2 30day lates that are back in late 2007, im not sure if this one being so old really will have any affect on my score even if  they accept my letter, but tired of it being a negative..


Still no success removing a Paid charge off, through first premier, that i dont believe to be mine.  I believe my x

took the offer and opened the acct, no payments on it. opened in 2010.  I sent a BBB complaint in regards to this account as FP bank unwilling to assist in the matter  & waiting for the results from BBB -

 

On the other hand, I did receive a response from TCF on a PFD letter I sent.  They responded with a letter that they are reviewing my case and will be in contact in writing shortly.. Im assuming this may be a generic letter to all consumers who write in?  Not sure, but keeping my fingers crossed they will accept and remove this TL

CL's: Cap1 Sec $300 / Cap1 Pref $300 / FPBank $300 / FH $100 / Jared $1500 / Discover $2000
Valued Member
backtogood
Posts: 29
Registered: ‎02-06-2013

Re: Credit Journal, any advice would be appreciated

Still no luck moving foward, Especially with Great Lakes Higher Education.

I have sent GW via snail mail, emailed directly to borrower service dept, and an online contact form via mygratelakes.com.

All 3 requests have been declined with the same message..

 

"Thanks for inquiring on how we’ve reported your account. While we’d like to report all loans as being current in monthly payments, we have to follow rules and regulations when it comes to credit reporting.  Great Lakes is audited to make certain that we’ve reported delinquency when warranted.  There isn’t room for the flexibility that we’d like.

 

Unfortunately we’ve had to report delinquency on your account in the past. This was reported in February 2010 through July 2010; November 2011 through January 2012; and August 2012.

 

Unless we’ve made an error and failed to correctly accredit your account with a payment, regretfully we’ll have to keep the reporting as it is.  In the event that you made a payment that wasn’t applied, please send us a front and back copy of the check, or a detailed bank statement........"

 

I have been searching for an email to higher executives and have had no luck in finding any contact information. I also searched through most and all threads containg great lakes, and PM'd those with success in emailing the VP, CEO, ect with no recent response. If anyone has any advice on this please let me know or has any additional contact information to get my GW letter in the right hand for the right decision that would be appreciated.. thx

 

 

 

 

CL's: Cap1 Sec $300 / Cap1 Pref $300 / FPBank $300 / FH $100 / Jared $1500 / Discover $2000
Valued Member
backtogood
Posts: 29
Registered: ‎02-06-2013

Re: Credit Journal, any advice would be appreciated

After countless, letters & emails, I finally got my first success removing a collection account through EOS!! Got the email this morning with a signed document stating the cra have been instructed to remove my collection account!! :smileyhappy: going to be a great day!! Thank you too the members on the forum providing me with the proper information to do so. :smileyhappy:
CL's: Cap1 Sec $300 / Cap1 Pref $300 / FPBank $300 / FH $100 / Jared $1500 / Discover $2000
Regular Contributor
tdrjustus3
Posts: 193
Registered: ‎05-23-2007

Re: Credit Journal, any advice would be appreciated

Good for you! Persistence pays off.


No apps until 8/2014
March 2013 Starting FICO Score: EQ: 584 TU: 564 EX: ??
August 2013 Current FICO Scores: EQ:664 EX:684 Walmart TU: 666

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