My husband and I are in the process of rebuilding our credit. We just recently have lucked out and received some money that will help pay off our debt/charge offs, collections, etc.
Our credit report shows the following:
Bank of America settlement already paid
Discover CO for 6400
Beneficial CO for 1400
LVNV Funding (CA for Sears) 3400
LVNV Funding (CA for other card) $350
SST (CA for medical account) 800
Macy's CO for $58
NCO Financial (for Cingular) 550
Chase shows a CO but we have been making regular payment since the CO and the balance is $4400
Equiant Financial-closed account $578 past due balance 14,500
This was a timeshare account. The property was foreclosed. The 14500 is still showing on my debt. My understanding was the property title was returned to them and the 14500 debt would not be my responsibility. I have contacted them and as of right now, the customer service agent had no clue what to tell me so she was emailing accounting to figure it out. I am calling back on that on Monday.
We do have two open lines of credit that have no balance on them. Also, one auto loan that is current.
We also do have late payments from other accounts that I am going to try and send GW letters on them
Should I send PFD on the CO on accounts that are with CA or the original creditors? Or both? If I send a PFD with a settlement offer, what is a good percentage to start with?
Once these accounts are paid, and hopefully the timeshare balance is figured out, how much can I expect my score to rise. My fico score is currrently 548.
Thank you so much in advance!
