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New Member
Posts: 3
Registered: ‎09-07-2013
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First time poster: Overwhelmed, where do I start?

Long-time lurker, first-time poster... Hi! :smileyhappy:

 

My goal is to be able to purchase a home sometime next year.  My rental lease is up in April 2014, so my goal is to be approved for a loan in Feb-March 2014.  My current FICO EQ score is 541, and my EX purchased off their site is 530.  Most of the damage I did to my credit was when I started applying for CC's when I turned 18 in 2005 and stopped paying on them.  There are some past due student loans as well.  I hadn't done anything recently to affect my score positively or negatively until I shopped for and was approved for an auto loan in May 2013.  So there is now a few hard inquiries and a good-standing account with payments on time.  

 

So here are my questions: 

1. There are a few things that show a 0 balance, closed, pays as agreed.  However, they have all gone into collections, so they aren't really paid as agreed.  Should I try to send a GW letter to get them removed or are they just not affecting my score at this point?

 

2. There are a few things that show a 0 balance, 120+ days past due.  These have all been charged off/transferred.  Can I get these original lines of credit taken off my report?  I'm sure they are affecting the score greatly.

 

3. Is it possible to PFD Sallie Mae to get the $15 @120+ days taken off the report?  Or do student loans not do PFD's?

 

4. There are a few medical things in collections.  Should I try to PFD?  Do mortgage lenders take medical balances into consideration?  

 

5. There's one thing that went to court and is listed as "Judgment Satisfied" which was a garnishment.  Best course of action with that?

 

6. Those are my questions to fix my past.  Now for my future, I'm sure I won't qualify for a credit card.  Should I try for a secured line of credit?  A couple? Store credit card?  Credit union?  I was going to try for a Fingerhut account, but I don't want to sign up for anything if it's not a guaranteed thing.  I don't want any more pulls on my credit unless it ends in an approval.

 

7. Is it even a realistic goal to go from 530/541 to mid-600's in 5-6 months?

 

I'm sorry for all the questions, but there's so many things to attack that I am feeling overwhelmed and don't know the right course of action.  :smileysad:  Do I PFD things with low balances and get those out of the way first?  Do I GW the 0 balances first?  Do I try going for opening new accounts first?  

 

 

Help. :smileyembarrassed:

Goal: 640 by December 2013

Sept 7 2013: EQ: 541, EX: 530
New Member
Posts: 3
Registered: ‎09-07-2013
0

Re: First time poster: Overwhelmed, where do I start?

Here's the summary from EQ for everything:

  

Company   Date opened Balance Status Negative Indicator? [?]  

Charge AccountGecrb/Jcp 11/2006$0Pays account as agreedNo 
Charge AccountHsbc/Bstby 1/2007$0120+ days past dueThis account has late payments in the past 
Charge AccountHsbc/Artvn 11/2006$0120+ days past dueThis account has late payments in the past 
OtherUnivofphx 10/2009$906Bad debt/collectionThis account has late payments in the past 
Student/Education LoanSallie Mae 8/2008$3,051Bad debt/collectionThis account has late payments in the past 
Student/Education LoanDp Of Educ 10/2009$15120+ days past dueThis account has late payments in the past 
Student/Education LoanDp Of Educ 8/2008$0120+ days past dueThis account has late payments in the past 
Student/Education LoanDp Of Educ 8/2008$0120+ days past dueThis account has late payments in the past 
Student/Education LoanDpt Ed/Slm 11/2009$0120+ days past dueThis account has late payments in the past 
Student/Education LoanDpednelnet 11/2009$0120+ days past dueThis account has late payments in the past 
Student/Education LoanDpt Ed/Slm 8/2008$0Pays account as agreedThis account has late payments in the past 
Student/Education LoanDpt Ed/Slm 8/2008$0Pays account as agreedThis account has late payments in the past 
Student/Education LoanWellsfargo 11/2009$0Pays account as agreedNo 
Student/Education LoanWellsfargo 11/2009$0Pays account as agreedNo 
Student/Education LoanSallie Mae 8/2008$0Pays account as agreedNo 
Student/Education LoanSallie Mae 8/2008$0Pays account as agreedNo 
OtherMidlandmcm 11/2009$946120+ days past dueThis account has late payments in the past 
OtherLvnvfundg 8/2009$859120+ days past dueThis account has late payments in the past 
OtherAfni-Bloom 10/2011$616120+ days past dueThis account has late payments in the past 
OtherAac 6/2011$304120+ days past dueThis account has late payments in the past 
OtherSears/Cbna 7/2005$0Pays account as agreedNo 
OtherBarclaysbk 11/2006$0Pays account as agreedThis account has late payments in the past 
OtherDte Energy 1/2010$0Pays account as agreedNo 
OtherDte Energy 2/2013$0Pays account as agreedNo 
OtherChase 11/2006$0Bad debt/collectionThis account has late payments in the past 
OtherHsbc Bank 1/2007$0Bad debt/collectionThis account has late payments in the past 
Vehicle LoanExeter 5/2013$15,546Pays account as agreedNo 

 

Goal: 640 by December 2013

Sept 7 2013: EQ: 541, EX: 530
New Member
Posts: 3
Registered: ‎09-07-2013
0

Re: First time poster: Overwhelmed, where do I start?

Collections: 

Collection on debt to: Dish Network

The collection agency "079YC00071" was hired to collect a debt of $115 originally owed to "Dish Network"on account number "".

Collection agency [?]Original balance [?]Current balance [?]Date assigned [?]Original lender [?] Account holder [?]
079YC00071
$115
$115
Apr, 2013
Dish Network
 
Individual
Collection on debt to:

The collection agency "597YC00000" was hired to collect a debt of $309 on account number "".

Collection agency [?]Original balance [?]Current balance [?]Date assigned [?] Account holder [?]Account descriptions [?]
597YC00000
$309
$309
Mar, 2013
 
Individual
Medical
Collection on debt to:

The collection agency "597YC00000" was hired to collect a debt of $752 on account number "".

Collection agency [?]Original balance [?]Current balance [?]Date assigned [?] Account holder [?]Account descriptions [?]
597YC00000
$752
$752
Feb, 2013
 
Individual
Medical
Collection on debt to:

The collection agency "645YC00000" was hired to collect a debt of $215 on account number "".

Collection agency [?]Original balance [?]Current balance [?]Date assigned [?] Account holder [?]Account descriptions [?]
645YC00000
$215
$0
Aug, 2012
 
Individual
Medical
Collection on debt to:

The collection agency "597YC00000" was hired to collect a debt of $397 on account number "".

Collection agency [?]Original balance [?]Current balance [?]Date assigned [?] Account holder [?]Account descriptions [?]
597YC00000
$397
$397
Jan, 2013
 
Individual
Medical
Collection on debt to:

The collection agency "168YC00000" was hired to collect a debt of $102 on account number "".

Collection agency [?]Original balance [?]Current balance [?]Date assigned [?] Account holder [?]Account descriptions [?]
168YC00000
$102
$102
Jul, 2012
 
Individual
Medical
Collection on debt to:

The collection agency "168YC00000" was hired to collect a debt of $50 on account number "".

Collection agency [?]Original balance [?]Current balance [?]Date assigned [?] Account holder [?]Account descriptions [?]
168YC00000
$50
$50
May, 2012
 
Individual
Medical
Goal: 640 by December 2013

Sept 7 2013: EQ: 541, EX: 530
Valued Member
Posts: 65
Registered: ‎06-10-2013
0

Re: First time poster: Overwhelmed, where do I start?

[ Edited ]

mrsbunyip wrote:

Long-time lurker, first-time poster... Hi! :smileyhappy:

 

My goal is to be able to purchase a home sometime next year.  My rental lease is up in April 2014, so my goal is to be approved for a loan in Feb-March 2014.  My current FICO EQ score is 541, and my EX purchased off their site is 530.  Most of the damage I did to my credit was when I started applying for CC's when I turned 18 in 2005 and stopped paying on them.  There are some past due student loans as well.  I hadn't done anything recently to affect my score positively or negatively until I shopped for and was approved for an auto loan in May 2013.  So there is now a few hard inquiries and a good-standing account with payments on time.  

 

So here are my questions: 

1. There are a few things that show a 0 balance, closed, pays as agreed.  However, they have all gone into collections, so they aren't really paid as agreed.  Should I try to send a GW letter to get them removed or are they just not affecting my score at this point?  You would goodwill the original accounts to try and have tradeline deleted. You would pay-for-delete collections. Some will not PFD or Goodwill. I see you have Midland; they are very hard to crack. I have seen a couple of successes, but most are not, and I, myself, was unsuccessful. 

 

2. There are a few things that show a 0 balance, 120+ days past due.  These have all been charged off/transferred.  Can I get these original lines of credit taken off my report?  I'm sure they are affecting the score greatly.

 

3. Is it possible to PFD Sallie Mae to get the $15 @120+ days taken off the report?  Or do student loans not do PFD's? Are student loans still open? Can you rehab them? if they are no longer with Sallie Mae, try goodwill.

 

4. There are a few medical things in collections.  Should I try to PFD?  Do mortgage lenders take medical balances into consideration?  I have had success with Medical collections in agreeing for PFD.. try that route if original creditor will not pull from collector and take payment.

 

5. There's one thing that went to court and is listed as "Judgment Satisfied" which was a garnishment.  Best course of action with that? Since satisfied, see if you can have the judgement vacated; then, it will be removed. 

 

6. Those are my questions to fix my past.  Now for my future, I'm sure I won't qualify for a credit card.  Should I try for a secured line of credit?  A couple? Store credit card?  Credit union?  I was going to try for a Fingerhut account, but I don't want to sign up for anything if it's not a guaranteed thing.  I don't want any more pulls on my credit unless it ends in an approval. Do you have any current positive tradelines reporting? Or is everything either negative or closed? If you have no open accounts (revolving), then, it is important that you get positive info reporting. If there is someone that can add you as an authorized user on a positive account, that would be good. Otherwise, you can get a secured card to start jump start the rebuild. 

 

7. Is it even a realistic goal to go from 530/541 to mid-600's in 5-6 months? ummm not sure; you have a lot of work ahead of you, but anything is possible. 

 

I'm sorry for all the questions, but there's so many things to attack that I am feeling overwhelmed and don't know the right course of action.  :smileysad:  Do I PFD things with low balances and get those out of the way first?  Do I GW the 0 balances first?  Do I try going for opening new accounts first?  Personally, I have worked on the few negatives on my credit report simulaneously: have sent out goodwills for a few tradelines while saving up to pay off a couple of collections. Midland is paid off, but like I said, I have had no success with the deletion of the tradeline. My tradeline is showed on some reports as "open" though, so I may try to use that as a basis for a direct dispute to see if i can have it deleted that way. I am waiting for one medical collection to be deleted from my recent PFD, and saving up to offer a PFD on my last medical collection. When you have at least one revolving tradeline reporting, make sure to keep the utilization low (preferable under 10% - if maxed out, it will be a score killer... ask me how i know? lol). That will help optimize your score.

 

 

Help. :smileyembarrassed:


 

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