09-18-2012 11:27 AM
I have made some headway - TU 480 to 621 in a few months. Although my EX and EQ reports are stuck at 570-590. My reports are identical, I am assuming scoring criteria are different.
Anywho, does potentially negative entries hurt my score? These are collections I have paid before I knew about any of the awesome information you guys have taught me. I have 2-4 of those.
My only two baddies are a VZW collection which I intend to PIF and my USDOE loans. Funny thing is, it says I owe $5067 when only $2625 was dispersed, or that's what it says when I plug my SSN into the student loan site. I have not had any luck trying to get the balance corrected.
I have the following positive tradelines:
Santander - Auto Loan, 8 months no lates
Sears - Authorized user, 4+ years no lates
Wells Fargo Secured Card, 6 months, no lates
Capital One Secured Card 6 months, no lates
I thought I might be able to get a Barclays card (Apple) but was declined on the recon for 4-6 late payments on a closed lease back in 2009. I was also denied a Wal-Mart card with no real reason, other than not enough recent revolving history.
Shall I let time heal all wounds and not worry about applying for anything?
Is there anything I can do to push forward, and maybe raise my scores?
09-18-2012 11:52 AM
On the VZW you are going to PIF? Have you tried a PFD? If that's not an option, after you pay GW the heck out of them. The student loans, do they have interest or other fees tacked on to drag that amount up?
Work on these and garden those good trade lines, yes time heals all wounds, let them age and then try again. Good luck!
09-18-2012 12:01 PM
Thanks for the reply and info, Shogun.
Yes, I have tried PFD and the only response was a proposed settlement of 50% and it being marked "paid" on my reports. I sent a counter offer of paying in full in agreement for deletion and have not received a reply.
I'm sure there is interest bringing the student loan amount up, however I doubt (and hope) it would almost double the amount. I was rehabbing the loan but the company taking care of the payments went under and stopped taking their money (that's been over 3 years ago). I have made little progress in finding someone to help me. It seems that every number I call, someone says I have to speak to someone else, and so on. At this point I just want to pay it, even though I know it won't be deleted. I guess I need to find that one person that wants to take my money. LOL
09-18-2012 12:05 PM
Good job on resending the PFD for full amount.
Kind of a rough spot there wanting to pay and difficulty finding who to pay. I would continue to try and get info on this, maybe do a PFD on them too.
09-18-2012 03:05 PM - edited 09-18-2012 03:09 PM
Is there a CA listed on your National Student Loan Database listing?
I have 3 listed, 2 with a zero balance (which I paid) and then this one. It says amount disbursed $2625 but an outstanding balance of $4437. Something isnt right.
Type of Loan: 3 DIRECT STAFFORD UNSUBSIDIZED
|ID||IN SCHOOL OR GRACE PERIOD||01/14/1998|
|Current ED Servicer:||DEBT MANAGEMENT AND COLLECTIONS SYSTEM|
U.S. DEPARTMENT OF EDUCATION P.O. BOX 5609
09-18-2012 03:44 PM
Okay....You need to do a few different things.
The collections and student loan are killing your scores! With a little bit of work you could have most of these negatives cleaned up in a few months.
If you decide to wait, the collections will stay on your report for 7 years from the time of first default. The student loan will stay on your report FOREVER!
You need to work on getting all these negatives off your report.
You need to write GW (Good Will) letters to the lenders for any of your collections that have already been paid. A paid collection is just as bad as an unpaid collection when it comes to your FICO score. You need these off your report.
You need to write PFD (Pay for Delete) letters to the lenders that have unpaid collections. You have leverage with these lenders, they want your money, you want deletion.
Your student loans will not age off your report. You need to rehab this loan and start making payments. At some point they may agree to remove the lates on this loan.
This forum has many resources on how to do all this. It comes down to reading, reading and reading some more. We are always here to answer your questions whenever the need arises.
You can do this! It is really not that difficult!
09-18-2012 04:33 PM - edited 09-18-2012 04:33 PM
Thanks for the advice.
I've done all that.
Did PFDs for most of my collections, so they're gone. Only 2 unpaid that remain are a VZW collection, which I plan to PIF and my federal student loan.
I have one paid collection left with Midland, and they refuse to remove it. I have consulted legal counsel and am preparing to sue them for other violations.
I have paid state student loans that went to collections, then I paid them. They won't budge with a GW either. Tried that several times.
Lastly I have an auto lease from TD Auto Finance showing 8 months of 30 day lates and a GW letter from them saying they have corrected the mistake. They asked for 60 days to update. That was about a month ago.
Other than that, I have 2-3 other auto loans that are 3+ years old, with a couple of 30 day lates each.
I know about GWs, PFDs - as this site and it's community are a wonderful resource. I've been doing this awhile.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.