This is my first posting on this forum as I’ve been reading MyFico for about 2 weeks now and have learned a ton of information but would also like some advice to go along with what I’ve learned and read. This is my current credit profile below and includes everything that is currently on my report.
Equifax & Transunion– Enhanced Recovery – Closed (Account Status) – 6/1/08 (Opened) - $252 unpaid
Experian, Equifax & Transunion – Aarons – Closed (Account Status) – 5/1/10 - $435 unpaid
Equifax – Aarons – Open (Account Status) – 3/1/10 - $0 Balance
Equifax – BB&T Car Loan - Open (Account Status) – 1/1/06 - $0 Balance - $9,489 High Balance
Transunion – BB&T Car Loan – Closed (Account Status) – 1/1/06 - $977 Balance - $9,489 High Balance
Experian – Brown & Joseph LTD – Closed (Account Status) – 7/1/11 - $118 Balance
I basically have only $805 to pay off between all of those accounts and I will officially have zero debt hanging over me. I could actually pay that right after the holidays are over, basically January 3rd. The $9,489 balance that I had thru BB&T bank for my car loan was paid off in 2009. As you can tell from the above, EQ is showing I have a zero balance, TU is showing that I have a $977 balance and EQ is showing I have a zero balance. I just received a letter from BB&T giving me proof that the balance is in fact zero and has been since 2009. Yesterday, I sent an online dispute to TU to get that sorted out. The high balance of $9489, is that what’s completely destroying my score?
Experian – 599
Equifax – 615
TransUnion – 599
I was just denied a capital one secured credit card a few days back which took me by surprise honestly. I think I actually applied and was approved earlier this year, decided to not go with the card at the time because I wanted to wait a bit and get a nice chunk of $$$ saved up after moving out of my old leased condo. My question to you guys is this. With getting the BB&T dispute sorted out along with going on and paying the $805 between the 3 collection accounts, should my credit score jump significantly very quickly? I ask this because I’m in the process of buying a home soon and want to make sure everything is clean as I can get it. Any advice you can give me would be greatly appreciated it. My goal is to have as perfect credit as possible, and I’m talking about in the 800’s. I’m currently under the Wells Fargo Credit Report program and can get alerts and such, which I’m hoping helps along the way. Thanks.
Thanks for your help. I plan to for sure do PFD’s for all of the past due balances here soon. I’m hoping TU deletes that BB&T mark off of my report and hopefully my score goes up very quickly. Over the last year and a half I became very serious about paying my bills on time and actually all are now automatically drafted via my checking so that I don’t even have to worry about it and that it’s always on time. Sitting here in 4th quarter 2013, I wish I would have done things differently and sooner, but we all live and we learn. I’m grateful that I only have $805 to essentially pay off and I’m good and have zero debt elsewhere.
Not knowing for the better, I was kind of shocked my scores were that low to be honest with you. My issue now is the whole secured credit card thing, especially with Captial one. As I’ve read on here to have 2 or 3 open tradelines to start the rebuild. Not to sound arrogant, but I have plenty of $$$ in both checking and savings because of not having any debt, so I’m just anxious to get this started. So basically I shouldn't worry about a credit card?
Slight update that just happened. I was approved for both a Wells Fargo & Bank of America secured card. Funds of $300 a piece have been taken out of my checking account and I should receive them here shortly. Honestly, I was a little worried about both applications as they were both not instant approvals and had gotten that denial from CP1. I had to call WF to confirm my address. Sounds corny, but this is an early Christmas present to myself because I'm eager to get started with vastly improving my credit scores for the near/distant future.
I also sent off 3 PFD letters yesterday to all 3 of my old (remaning balance) accounts. Hoping I get an answer here quickly about all 3 because I can easily pay those come January 3rd all at once and then I'll have zero debt. I just want to make sure things are in writing on their end to get the marks removed from my CR.
Seeking advice on the new plastic use. After reading countless threads on credit cards on this forum, i'm hearing that it's wise to keep the UTI under 9%, is this correct? I've heard of some people paying off majority of the balance multiple times a month vs just once. Any advice on how to use the plastic from this point forward would be greatly apprecaited. Thanks guys.
When the time comes to apply for unsecured cards adding to your deposit makes for the likelihood your secured cards if they unsecure or any new cards have a bigger CL. As previously posted one card with <9% utilization is ideal for your credit score. Good Luck with your credit journey.
Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5kThanks guys. Much appreicated on the help and stoked to get started here soon. Hoping to actively use the card for upcoming Christmas presents.
I sent in a PFD letter to the below company for a Sprint bill that went unpaid in 2008. Here is their response...
Thank you for your inquiry. Unfortunately, our agency would not be able to delete the account from the credit bureaus entirely as we are required to report the accurate standing of the account per FCRA guidelines. If an account is paid-in-full, it would reflect as such with a zero balance remaining. You can make a one-time payment or schedule multiple payments by creating an account on www.payerc.com and then by viewing the attached tutorial. Additionally, you can make a payment by sending a check or money order by mail to:
Enhanced Recovery Company, LLC
8014 Bayberry Rd.
Jacksonville, FL 32256-7412
**Please understand that our website is always being updated in order to better serve our customers. If you experience any technical difficulties please reply to this email.**
** This communication is from a debt collector. This is an attempt to collect a debt and any information obtained will be used for that purpose.**
**See attachment for important notices and consumer rights.**
I hope that I have provided a solution to your inquiry. Please feel free to contact me with any additional questions.
• You can reply to this email (customercare@erccollections.com)
• Contact a General Representative: (800) 617-0049.
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Any advice on how to handle this? Again, it's an unpaid "I broke my contract with Sprint" bill that is showing up on my CR. Again, I can easily pay this come the first of January (wanting to get thru Christmas 1st while still putting back a nice chunk of salary into savings). Should I send in a few GW's? Should I dispute that they wont delete it off of my CR? Thanks in advance guys.