Hello, new here and looking for advice :)

[Cfb14]

Hello,

I have been reading these forums for the past week and finally decided it is time for me to get back on track and rebuild my credit.  I have seen how wonderful everyone is on this forum, and I am hoping to get some advice on where to start my journey! My current scores are:  EX  594, TU  574 and EQ 562.  I have 3 accounts in collections that I am hoping to get removed.

Credit Bureau Hutchinson

Unpaid,  $1,011

DOFD 5/2011

(This was a checking account that over drafted, then continued to build fees while I was on hospital bed rest for my pregnancy.  This is reporting as a joint account, which it was not. Only my name was on the account)

NCO Financial Systems

Unpaid,  $491

DOFD 8/2011

(DirecTV)

Anderson Financial

Unpaid, $193

DOFD 10/2011

(Centurylink)

I have the ability to PIF all of these collections. What would be my first step? Up until this month, when I applied and was approved for a Capital One secured card, I have not had any credit cards  for years.  Back in college, I opened a few credit cards (that I had no business having at the time)  and was irresponsible and fell behind.  I eventually paid them off and closed all the accounts, not knowing any better.  Should I try to apply for another card, or wait?  I do have a car loan for the past couple of years that has always been paid on time, never late.  My only other account is my student loan.  I have been late on this in the past, but have been current for the past 4 months.

My husband and I are hoping to improve our scores enough to be able to qualify for a mortgage later this year.  Any help is greatly appreciated! Thank you in advance!

[0REDSOX7]

Hello and welcome.

You can do one of four things here (ranked in order of what I would do).

1) you can offer to do a PFD.  Call/Write to them and offer to pay in exchange for deleting from your credit report.

2) you can pay in full and then send GW after the fact to remove from your credit report.

3) you can offer a settlement of less than the full amount

4) do nothing and see what happens.

It all depends on what you want to accomplish.

[-NewGuy-]

Step one is to attempt to PFD with all three. Anderson Financial has a pretty decent streak on here for being willing to PFD (search AFNI on here). I'm not familiar with the others personally, but attempt to PFD those as well. Removal of all three collections would provide a nice boost to your score. The lates on the student loan may pose an issue, but first things first. I don't know if you will be getting approved for anything besides secured cards at this point, but you do have one already so just make sure to pay on time and take proper care of it.

[Cfb14]

Thank you both for your advice! I will be working hard to clean up credit and stay on track once and for all 

[chosen4th]

DISPUTE NCO!! Anything I've ever had from them that I have disputed, has been deleted right away!

[Cfb14]

Did you do a dispute directly through NCO, or through he CRA's?

[chosen4th]

I never offered NCO a PFD, but im guessing with success rate they have with disputes they probably would.. and PFD is much quicker than a dispute if it works

[chosen4th]

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@Cfb14 wrote:

Did you do a dispute directly through NCO, or through he CRA's?

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Sorry never saw this, I always do both

[guiness56]

You can't dispute if they are reporting accurately or they are valid debts.  It is a violation of the TOS of the forums to do so.