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Established Member
Posts: 21
Registered: ‎04-01-2012
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Just Started To Rebuild And Need Advice

So I've been reading these forums for a bit, but decided to post and ask a few questions. But sorry in advance for the long winded story. So I just started to rebuild my credit after letting it just sit there with collections on it for pretty much it's entire life. I've never been good with managing money up until the past 2yrs, and it's now come to the point of where I need to take the necessary steps to fix it. At any rate, I've had a bunch of collections removed by filing disputes, but still have many remaining, My current FICO score through MyFico is 552. Before I started this process, I only had one positive account, and it was an installment account from 2003, so it was pretty old. So other than that, all that was on my report were collections. I've never had a credit card in my life, so there were no revolving accounts, so through the comments on this forum, I went and got a secured card through Fifth Third Bank in July '11. After reading on this forums a bit more, I saw that you can give your score a bump if you have more than one revoving account, so I added two more a few weeks ago. So I have a total of three now, one has $2000 deposit on it (has been revolving with little to no balance for the past 9 months), while the two recent additons have $1500 each which will keep zero balances revolving.

 

My question is this, I still have like 11 collections on my EQ report, some of which are almost due to get deleted, while others are like a year old. I've tried to PFD, but they won't do it.  Is there anything else I can do to help my score out?  Almost everything, except one small power bill, are all medical bills from previosly not having health insurance.  I know I can manage this, as I've got a handle on it all now. Should I pay all these collection accounts? Doesn't the clock restart on them after donig that?  I'm just trying to figure out the best course of attack from my current position. Thanks to everyone on this forum for helping me on the initial parts of my journey.

 

Frequent Contributor
Posts: 342
Registered: ‎02-10-2012
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Re: Just Started To Rebuild And Need Advice


GCM415 wrote:

So I've been reading these forums for a bit, but decided to post and ask a few questions. But sorry in advance for the long winded story. So I just started to rebuild my credit after letting it just sit there with collections on it for pretty much it's entire life. I've never been good with managing money up until the past 2yrs, and it's now come to the point of where I need to take the necessary steps to fix it. At any rate, I've had a bunch of collections removed by filing disputes, but still have many remaining, My current FICO score through MyFico is 552. Before I started this process, I only had one positive account, and it was an installment account from 2003, so it was pretty old. So other than that, all that was on my report were collections. I've never had a credit card in my life, so there were no revolving accounts, so through the comments on this forum, I went and got a secured card through Fifth Third Bank in July '11. After reading on this forums a bit more, I saw that you can give your score a bump if you have more than one revoving account, so I added two more a few weeks ago. So I have a total of three now, one has $2000 deposit on it (has been revolving with little to no balance for the past 9 months), while the two recent additons have $1500 each which will keep zero balances revolving.

 

My question is this, I still have like 11 collections on my EQ report, some of which are almost due to get deleted, while others are like a year old. I've tried to PFD, but they won't do it.  Is there anything else I can do to help my score out?  Almost everything, except one small power bill, are all medical bills from previosly not having health insurance.  I know I can manage this, as I've got a handle on it all now. Should I pay all these collection accounts? Doesn't the clock restart on them after donig that?  I'm just trying to figure out the best course of attack from my current position. Thanks to everyone on this forum for helping me on the initial parts of my journey.

 


Hi and welcome to the forums! :smileyhappy:

 

If most of your collections are medical collections, I highly recommend looking into the HIPAA process. It really can't be discussed in detail here but you can google "HIPAA process" and it's pretty easy to find. Also, if you send me a PM, I can send you some info and steps that helped explain it to me better.

 

Is the power bill collection past SOL? If so, just keep trying to PFD. Don't take no for an answer...if someone says no, try again and again.

If it is not past SOL, my suggestion is to pay it in full if you can. Then start sending GW letters until they get tired of hearing from you lol.

 

Don't worry about restarting any clock. In some, rare cases, a payment might restart the SOL clock. But the CRTP (your drop off date on your report) will not change.

 

Most importantly, on those medical bills, work with the original health care providers to pay them directly ( don't pay the CAs for those ).


Starting Score: EQ = 550; TU = 491(2/10/12)
Current Score: EQ = 669; TU = 674(6/20/14)
Goal Score: 700+


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Valued Contributor
Posts: 1,206
Registered: ‎02-19-2012
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Re: Just Started To Rebuild And Need Advice

Goggle Hippa process so you can dealwith OC you will have better luck with PFD.

 


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

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