Hello Everyone,
I would like to start repairing my credit. Just a little background, I have always been bad with money and budgeting, wasn't really taught about credit. I would like to just try to get a fresh start since I am getting older and would like to purchase a home for me and my 2 little ones in the near future, I was in the process of filing bankruptcy but I'm not sure if that would be the best route. I am in the process of breaking an apartment lease (couldn't afford it anymore or my budgeting skills suck). The apartment will continue to charge me until the unit is rented out again. So right now I have moved in with my brother and mother, and help pay rent. I currently make about $30,000 a year (not sure if this will help). About $780 in monthly daycare costs, and pay $290 for partial rent on family's house. Other bills total to about $500. Before this month my bills totaled my monthy income, so there wasn't anyway to pay on anything outside of necesseties. I have around $700 extra monthly to pay down some debt and repair my credit now since moving in with family. My car was voluntary surrended in December of 2015 with a balance of about $15,000 due to driving without insurance and in a not at fault accident, but other person didn't have insurance either. The repairs were around $7000. The car was finally sold April 2016 for around $2300. It isn't showing a repossession yet, just late payments from Feb-present. I have 3 things showing in collections. I have some COs and a ton of late payments. I also have a discover card that is maxed out, that I plan to pay down to $0 next due date, since I have some extra funds available. I have really struggled finacially this past year, I would just like some advice on where to start. My fako scores at this time are 493 transunion and 454 equifax. I will post my negative accounts below. I do know the discover utilization is hurting me the most right now. I'm not sure if should wait until the car loan is showing accurately to try to repair or start now? Helppp & Thanks.
Last Reported
Jun 03, 2016
Creditor Name
DISCOVERBANK
Account Type
Secured Credit Card
Payment Status
30-59 Days Late
Worst Payment Status
60-89 Days Late
Date of Last Payment
Apr 04, 2016
Last Reported
Apr 30, 2016
Payment Status
60-89 Days Late
Worst Payment Status
60-89 Days Late
Date of Last Payment
Apr 29, 2016
Times 30/60/90 Days Late
2/0/0
Remarks
Account Details
Last Reported
Apr 10, 2016
Original Creditor
11 SPRINT
Remarks
Placed for collection
Account Details
Last Reported
Jun 06, 2016
Collection Agency
NTL CREDIT MGMT
Original Creditor
IVY TECH COMMUNITY COLLEGE
Remarks
Placed for collection
Last Reported
May 08, 2016
Collection Agency
PORTFOLIO RECOVERY
Original Creditor
CAPITAL ONE BANK USA N A
Remarks
Dispute resolved; customer disagrees
Last Reported
Oct 31, 2013
Account Type
Rental Agreement
Responsibility
Individual Account.
Payment Status
120-149 Days Late
Date of Last Payment
May 01, 2013
Times 30/60/90 Days Late
1/1/1
Remarks
120 Days past due
Last Reported
May 31, 2016
Creditor Name
EAGLE FINANCIAL SERV
Responsibility
Individual Account.
Payment Status
Collection/Charge-Off
Date of Last Payment
Nov 01, 2015
Times 30/60/90 Days Late
1/1/0
Remarks
Charged off account
