Reply
Member
J_S
Posts: 36
Registered: ‎11-26-2012

My Credit Repair Journal

Hey all.

 

Here's where I'm at: Transunion 486 Equifax 471 (Please don't judge...)

 

I have 2 open credit cards. Both have been late 60-90 days. One has $341. The other is paid off. I have another closed card that amounts to $754 and a merchant account in the amount of $110. I have a ton of other (mostly derogatory) items listed that are fairly old.

 

In collections I have 3 accounts, $1920, $81, and $774. The last one is from 2006 but the other two are recent.

 

I'll be paying this off in the next few months. What should I tackle first, the collections or the accounts?  

Established Contributor
sphinx313
Posts: 562
Registered: ‎02-12-2011

Re: My Credit Repair Journal

J_S, Welcome to myFICO!

 

I assure you, there will be no judging going on here. I was at an abysmal 388 when I started my journey, so this is just the first step in the right direction. One thing you have to do first if you haven't already, is pull your Credit Report from annualcreditreport.com. It is 100% free and provided to you once a year should you request it. This report will give us all the information we need, such as DOFD's so we can see if they are still within the SOL of your state. These reports will have all the information necessary to lead you down the right path.

 

Feel free to post copies of the collections/accounts sections so the members here can formulate a plan for you! Good luck!



Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700


Take the FICO Fitness Challenge
Member
J_S
Posts: 36
Registered: ‎11-26-2012

Re: My Credit Repair Journal

[ Edited ]

Thanks for the reply, and encouraging words.

 

The adverse accounts section was too long to post here. Too many characters. Really, the ones I still owe on are recent. The one that was 2006 is the only one that I still owe on that's old. The rest are just a couple of months old. This is actually my second attempt to fix things. I just screwed it up again a few months ago. :smileysad:

 

 

Valued Contributor
Swapmeet
Posts: 1,260
Registered: ‎11-10-2012

Re: My Credit Repair Journal

Don't worry about anyone judging you here, as sphinx said. A quick note of advice before paying anything, try and get them to agree to a PFD every time. It will boost your score quicker and you have a little leverage before you pay-- not the case afterwards. Good luck bro, you have already made a good choice (coming here). I am still pretty new here, but I have been reading, reading, reading, and following the advice of the knowledgeable people here. It is coming along nicely.

My Wallet: WalMart: ||10k|| USAA Platinum MC: ||13k|| Amex Delta Gold: ||2k||; BCE: ||9k|| Chase Freedom Siggy: ||10k||
Discover it: ||6.5k|| SG Visa: ||7k|| USAA World MC: ||13k|| US Bank Cash+ Siggy: ||5k|| Citi TYP World MC: ||10.5k||
Barlays Arrival World MC: ||10k||
Fico Scores: EQ 700 (SW),TU 745 (Walmart), EX 738 (myfico) Last app: Arrival World MC 2-1-14
Member
J_S
Posts: 36
Registered: ‎11-26-2012

Re: My Credit Repair Journal

I didn't think about PFDs. I may give it a try.

 

Another question: Is it better to close accounts that have blemishes on them and reopen secured cards or keep the cards with blemishes? Do the blemishes of an open account ever go away?

Valued Contributor
beb86
Posts: 1,117
Registered: ‎10-31-2011

Re: My Credit Repair Journal

Welcome to the forums and I look forward to hearing your progress....you can find a lot of useful information on the stickys in each topic.

ccpics2.jpg
Moderator
Shogun
Posts: 10,833
Registered: ‎04-15-2011

Re: My Credit Repair Journal


J_S wrote:

I didn't think about PFDs. I may give it a try.

 

Another question: Is it better to close accounts that have blemishes on them and reopen secured cards or keep the cards with blemishes? Do the blemishes of an open account ever go away?


It actually just depends on the blemishes.  Were they just 30 or 60 day lates?  Or were they more serious?  


Starting Score: 504

Current Score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Going for Wade64's RUDY Spade!
Member
J_S
Posts: 36
Registered: ‎11-26-2012

Re: My Credit Repair Journal

The Home Depot is 60 days late, Capital One is 90 days late.

Valued Contributor
Swapmeet
Posts: 1,260
Registered: ‎11-10-2012

Re: My Credit Repair Journal

There are several factors to this decision. How long have you had these accounts open? What is your payment history like with them? You might be able to get your accounts current and GW the blemishes off.

My Wallet: WalMart: ||10k|| USAA Platinum MC: ||13k|| Amex Delta Gold: ||2k||; BCE: ||9k|| Chase Freedom Siggy: ||10k||
Discover it: ||6.5k|| SG Visa: ||7k|| USAA World MC: ||13k|| US Bank Cash+ Siggy: ||5k|| Citi TYP World MC: ||10.5k||
Barlays Arrival World MC: ||10k||
Fico Scores: EQ 700 (SW),TU 745 (Walmart), EX 738 (myfico) Last app: Arrival World MC 2-1-14
Member
J_S
Posts: 36
Registered: ‎11-26-2012

Re: My Credit Repair Journal

The accounts are current as of today. They've been open for 6 months to a year. My payment history was good until I had the hiccup.

 

I think I'll work on GW letters today. When asked why I missed the payments I told them it was due to medical issues. What's the likelyhood of GW working with medical as the reason given for being late? In any case it's worth a shot... But do they work with open accounts? 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+