@Anonymous wrote:Hello Everyone, I am creating a thread in hopes of getting some help in starting to rebuild my credit as it has been a major drag on my life for a number of years and the result of what I try always leaves me frustrated. Hopefully some of the answers I receive moving forward will not only help me but others for time to come.
Let me start off by saying that I am now in my late 20's, I started my credit history several years ago and to tell you the truth I was paying off bills on time and my credit score was in its mid-600s, I'm not sure at this point whether if I wasn't responsible enough or other priorities in my life strayed me from this path but the end result now is that I have bad debt on several accounts which ironically isn't even a significant amount. Now that I finally realize the importance of having good credit and not being able to do anything without it I see the mistakes I’ve made but instead of continuing to live like this I would like to do something about it.
I have made some naive errors in my attempt to correct my mistakes so for instance I had a Cap1 account which resulted in a default judgment and I ended up paying them in monthly installments on the entire amount without even negotiating any terms. Now I have a paid civil claim judgment on my credit report and to top it off a "paid, closed. $#,### written off." from the OC, a stupid mistake, one of many. See if your state allows you to file a motion to vacate on grounds its been paid if so and its granted the judgment is gone from your CRs. You can look up in your states codfied laws that govern the civil court system as to what grounds a judgment can be vacated on.
I have other small debts that are closed at the granters request besides the Cap1 mentioned, such as Chase, whom I sent a goodwill letter and received a call back from one of their account specialists and simply was told they have to report accurate information and could not do anything for me. Another from convergent outsourcing who the OC was Sprint for an account I don't even remember opening, Macys for a small amount which is probably made up of mostly late payments. Another is a BOA account that shows a 0 balance only because it was sold to PRA which is a small amount as well; both creditors are now on my account for the same debt. Another account in bad standing is a dept. store credit card for the most part is paid always on time except for the fact that it has 3 late payments over the course of 5 years. Keep up the GW letters it sometimes takes years.
Besides the Cap1 Judgment there is a tax judgment that is also paid off but that doesn't help me much from a 2011 debt. If that tax lien is federal file IRS Form 12277 to get it withdrawn, if its a state lien check and see if it can be withdrawn.
It's a shame that these small amounts have ruined me to a point where I can't purchase a car, buy a home or anything for that matter on credit. It's pretty much ruined my life to a point that I live with only the cash I have at hand, and given how the system works unless you're a millionaire, that doesn't work out to well. Realizing my mistake doesn't help me much so I basically I am trying to get help from the some of the seasoned vets on here who are kind enough to give advice here on a day to day basis (you are truly an inspiration). I have considered using LL to help but after seeing their reviews I'm a bit concerned that it might be a waste of money even though a friend recommended that they worked well for him. I have also considered using TKG who seems reputable and I've spoken to the account manager several times and he appears knowledgeable but required 3-4k to get everything resolved which doesn't even include the amounts I would have to pay off. LL cant do anymore for you than you can do for yourself.
Also I’m not sure if I did the right or wrong thing without consulting anyone but I did dispute the charges when getting my reports from annualreports with both of the E bureaus. As you can see I’m a bit lost on how to proceed. Any help would mean a lot. I hope to stay active on here and respond to any questions that you might have to better understand the situation and provide proper guidance.
Thank you.
Sincerely
Adam
If you have no credit cards now you need to immediately try to obtain some secured bankcards to begin the rebuild. You can check with local CUs and I would look into getting a St Dept FCU secured card, if you put the funds in savings and call them to open it its a SP. Cap-1 has secured card as does FNBO (the Speedway card). You want 3 revolving bankcards and 1 store card at minimum to help maximize your Fico scores, get the bankcards first store card later.
Welcome Adam. You are in good hands here
Starting Score April 2013: 556