10-13-2010 01:45 PM - edited 10-13-2010 01:59 PM
OK. I'm looking for help and I figured I'd try here. I'm 28 and I have a few issues with credit. According to my Experian report, I have 3 negative items. 2 of them are from the same object, one was a silly mistake. I need some advice:
- Secured Credit Card - I paid 5/3rd bank 300 dollars for a 300 dollar credit limit card. I ended up spending near 300 and kind of left it alone (Stupid). They added fees, said I had a high balance of 527.00 lowered it to 336 and sold it to Asset Acceptance. I didn't get my 300 deposit back. - Credit Report Date Opened - 6/1/2005
- Asset Acceptance - This is from the original 5/3rd bank card, they say I owe them 527.00 and have sent me various offers to settle, but from what I have read, I have no real incentive to pay them back, it won't really help my score. - Credit Report Date Opened 12/1/2007
- School Loan - I left to work overseas for 6 months in late 2009/early 2010 and set up consolidation for my school loan, I found out later one hadn't been consolidated, it eventually was 120 days past due, I did consolidate it and now it's current.
- My dad has a credit card which was in my name listed on my report, it gets paid on time and has a 16k balance.
- I have my own credit card with a 5k balance which I've had for over 2 years and never been late on.
- I have 30k in school loans which I pay on time except for the single instance mentioned above (3 separate accounts)
Bottom line is my score is around a 640, but with the negative items listed, I can't really get any kind of decent financing, my credit card has high interest. I understand I messed up, but honestly, the 2 items from 5/3rd bank don't make me feel too guilty. I gave them 300, I spent around 300, they just tacked on fees because I was silly. I was recommended to try a pay for delete letter, but the negative items drop off in 2012 and 2014 respectively, and I'm scared of starting the clock over on the debts. Any tips?
- Why is the dropoff date different for the 5/3rd debt and the collections debt that ensues, shouldn't it be all the same?
- The original debt was in Kentucky, I live in Texas, the Collector is in Michigan, 5/3rd is in Ohio, which statute of limitations is the correct one?