I think I'm stuck between good and bad credit.

Anonymous · ‎06-25-2015

I Really have been working hard on fixing past mistakes and starting new clean credit lines. But I think I'm stuck in the abyss between good credit and bad credit. I've been approved for a few things but until I pay off old debts I think I'm gonna be gardening because I just can't get any prequals. My debt ratio is high because of a few old co's that are still reporting as open maxed out balances. I even tried the prosper and lending club sites so I could go ahead and pay them off and then just pay off the loan in 3 to 6 months but even they say my until is to high. Like I said I'm in the abyss. Just not sure what else to do to improve this situation other than wait. I tried cli's on all my current cards but that was a nogo.

My fico 8 scores are 657,653,652.

My inquiries are tu (11), eq (17), ex (4).

I have NFCU cash rewards (3000), merrick (1500) 2 cap ones (1500 each), spark bus (1500), kay (1500), sams club mc (250), walmart store (400), paypal smart credit (690), belk (300), lowes (300), kohls (300), VS (500) and I am an au on fiancess NFCU cash rewards (12500). 2 mortgages that are about (11 and 6 years old). and a carmax auto loan (3months old)

The only one that carries a balance is the one I'm an AU on because we used it to combine a couple of fiancees cards into one payment. But it's only 20% util on it. No late payments or problems in just under four years, but a couple of the chargeoffs do report as recent CO because they have resubmitted info. So any suggestions on what to do. Gardening is hard, but I've been strong 3 months now. Tried to get cli on everything except the NFCU card ( just waiting on next AR, then I'm gonna push that button hard, lol).

Anonymous · ‎06-26-2015

@Anonymous wrote:
I Really have been working hard on fixing past mistakes and starting new clean credit lines. But I think I'm stuck in the abyss between good credit and bad credit. I've been approved for a few things but until I pay off old debts I think I'm gonna be gardening because I just can't get any prequals. My debt ratio is high because of a few old co's that are still reporting as open maxed out balances. I even tried the prosper and lending club sites so I could go ahead and pay them off and then just pay off the loan in 3 to 6 months but even they say my until is to high. Like I said I'm in the abyss. Just not sure what else to do to improve this situation other than wait. I tried cli's on all my current cards but that was a nogo.

My fico 8 scores are 657,653,652.
My inquiries are tu (11), eq (17), ex (4).

I have NFCU cash rewards (3000), merrick (1500) 2 cap ones (1500 each), spark bus (1500), kay (1500), sams club mc (250), walmart store (400), paypal smart credit (690), belk (300), lowes (300), kohls (300), VS (500) and I am an au on fiancess NFCU cash rewards (12500). 2 mortgages that are about (11 and 6 years old). and a carmax auto loan (3months old)

The only one that carries a balance is the one I'm an AU on because we used it to combine a couple of fiancees cards into one payment. But it's only 20% util on it. No late payments or problems in just under four years, but a couple of the chargeoffs do report as recent CO because they have resubmitted info. So any suggestions on what to do. Gardening is hard, but I've been strong 3 months now. Tried to get cli on everything except the NFCU card ( just waiting on next AR, then I'm gonna push that button hard, lol).

How big are those charge-offs? Are they past SOL?

Anonymous · ‎06-26-2015

all Chargeoffs happened in 2011 and are beyond the SOL. The problem is they are still owned by Original Creditor and report as maxed out so it looks like I have 3 of my Tradelines at over 100 percent util. I have plans to save up over the next six months to pay one off every other month. Total of about 5600 altogether. I want and need to pay them. I owe them. Should never have went unpaid anyways, but went through divorce and something had to give. And I didn't want to lose my house. I had to pay ex pretty heavily for the past 4 years because of half ownership in business to buy her half out. But that is all done. So I have been gradually cleaning up old debts. I'll get there, Just wondering what else there is I can do before I am able to pay those chargeoffs. I have a feeling it's just gardening till they are paid.

Anonymous · ‎06-26-2015

I would send them settlement offers for 50%. Offer to PIF only if they will delete the tradelines. At 50% you currently have enough credit to pay them off now. Then you would have something to work on now - paying down your UTI, and watching your scores grow as you do so!

Anonymous · ‎06-26-2015

I think that's a great idea. I

was thinking I wanted to pif so that I could reopen cards with them someday. But at this point I'm ready just to get them gone and worry about being blacklisted later.