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My attempt at repairing my credit!!

Member

My attempt at repairing my credit!!

Hey all, So after a long time of ignoring my credit I'm finally ready to start the rebuilding process. At one time in my life I actually had good credit but that was about 15 years ago. Most of the items I owe on are from around 2011-2013 when I got out of the military, I spent a year In Iraq and neglected my bills for that year for the most part then when I got out just ignored them.So here's a basic rundown of what 'm looking at

 

Last Reported
Mar 28, 2015
Collection Agency
AMER ADJ BUR
Original Creditor
MED1 02 MANCHESTER MEMORIAL HOSPITAL
Status
Open
Opened Date
Sep 07, 2012
Closed Date
--
Responsibility
Individual
Balance
$610
High Balance
$610
Remarks
Placed for collection
 
Last Reported
Dec 21, 2014
Collection Agency
CONVERGENT
Original Creditor
NORTHEAST UTILITIES SERVICE CO
Status
Open
Opened Date
Nov 04, 2014
Closed Date
--
Responsibility
Individual
Balance
$982
High Balance
$982
Remarks
Placed for collection
 
Last Reported
Mar 28, 2015
Collection Agency
PIN CRED SER
Original Creditor
12 VERIZON WIRELESS
Status
Open
Opened Date
Dec 20, 2013
Closed Date
--
Responsibility
Individual
Balance
$648
High Balance
$648
Remarks
Placed for collection
 
Last Reported
Mar 15, 2015
Creditor Name
DFAS-IN
Account Type
Government
Account Status
Closed - Derogatory
Opened Date
Jul 26, 2011
Closed Date
Oct 24, 2011
Limit
--
Term
--
Monthly Payment
$0
Responsibility
Individual
Balance
$2,224
Highest Balance
$2,193
Payment Status
Collection/Charge-Off
Worst Payment Status
Unknown
Date of Last Payment
--
Amount Past Due
$2,224
Times 30/60/90 Days Late
0/0/0
Remarks
Charged off as bad debt
Profit and loss write-off
 
Last Reported
Oct 31, 2011
Creditor Name
NAVY FCU
Account Type
Unsecured Loan
Account Status
Closed - Derogatory
Opened Date
Oct 06, 2011
Closed Date
Oct 31, 2011
Limit
--
Term
72 Months
Monthly Payment
$20
Responsibility
Individual
Balance
$0
Highest Balance
$513
Payment Status
Collection/Charge-Off
Worst Payment Status
Unknown
Date of Last Payment
Oct 27, 2011
Amount Past Due
$0
Times 30/60/90 Days Late
0/0/0
Remarks
Charged off as bad debt
Profit and loss write-off
 
Last Reported
Mar 20, 2015
Creditor Name
OMNI MILITRY
Account Type
Note Loan
Account Status
Closed - Derogatory
Opened Date
Aug 26, 2010
Closed Date
Feb 21, 2012
Limit
--
Term
13 Months
Monthly Payment
$162
Responsibility
Individual
Balance
$2,221
Highest Balance
$1,724
Payment Status
Collection/Charge-Off
Worst Payment Status
Unknown
Date of Last Payment
Feb 28, 2011
Amount Past Due
$2,221
Times 30/60/90 Days Late
0/0/0
Remarks
Charged off as bad debt
Profit and loss write-off
 
I also have a CC with fort sill cu that I haven't paid since 2010 and is at 99% utilization (limit 300, at 299)
 
The most important Item for me to pay off right now is the NFCU, I talked to them a couple days ago and agreed to pay it off and they will delete it and let me open the account back up (gonna get that in writing before I commit)
 
I applied for the capitol one secure card last week but realized I need a checking account to deposit Oops LOL So I'm applying for the open sky secure CC this week.
 
I thought after I pay off NFCU I would start with the lowest amounts first and use the snowball method to pay everything off? Is that a good approach or is there a better solution?
 
Another issue I have is I owe around 2300 in past car taxes to my state and can't register a car till its paid off, it began as a 600$ bill in 2007 but with interests it's ballooned up to what it's at today, does anyone know anything about that sort of thing? What the hell do I do about that, not having a car is ruining my life
 
Oh, heres the CC info
Last Reported
Feb 01, 2011
Creditor Name
FORT SILL CREDIT UNI
Account Type
Credit Card
Account Status
Open
Opened Date
Jun 01, 2010
Closed Date
--
Limit
$300
Term
--
Monthly Payment
$20
Responsibility
Individual Account.
Balance
$299
Highest Balance
$317
Payment Status
90-119 Days Late
Worst Payment Status
--
Date of Last Payment
Oct 01, 2010
Amount Past Due
$80
Times 30/60/90 Days Late
1/1/0
Remarks
Variable/adjustable Rate
 
Any advice would be greatly appreciated, Thanks in advance
Starting Scores:4/12/15 TU 525 EQ 527 EX?
Current Scores:7/6/15 TU 566 EQ 564 EX 512
Goal score in 18 months (10/16) 750 Is it possible??
12 REPLIES
Member

Re: My attempt at repairing my credit!!

As of today my scores are TU 525 EQ 527. No idea about EX or FICO. May purchase myFICO next month

Starting Scores:4/12/15 TU 525 EQ 527 EX?
Current Scores:7/6/15 TU 566 EQ 564 EX 512
Goal score in 18 months (10/16) 750 Is it possible??
Established Contributor

Re: My attempt at repairing my credit!!

Are you in the military? I thought the military had resources to help out soldiers with credit.

First you need to pay the credit card balance off fast so it's not another bad mark. So far it's just showing as open.
Then I would sort the collections based on closed date. Starting with the most recent to oldest. Then start PFD when you have the money.
Member

Re: My attempt at repairing my credit!!

I got out of the military back in 2011. It's OK if I send the CC agency 100$ a month till it's paid off? Will that help my credit score while I'm paying it off?

Starting Scores:4/12/15 TU 525 EQ 527 EX?
Current Scores:7/6/15 TU 566 EQ 564 EX 512
Goal score in 18 months (10/16) 750 Is it possible??
Established Contributor

Re: My attempt at repairing my credit!!

Yeah that's better than letting it go to collections but I would pay that cc off ASAP. you don't need another bad mark or interest accumulation.
Established Contributor

Re: My attempt at repairing my credit!!

You really want to keep bad marks off your credit while repairing It. or its like your digging while filling the hole back up.
Established Contributor

Re: My attempt at repairing my credit!!

If you owe zero and there is still a negative m as rk on your credit send the collection agency or original creditor a letter asking them to delete the negative mark.
Member

Re: My attempt at repairing my credit!!

Thanks for the advice!  I'll start paying off the CC and NFCU accounts in may. Do you think I should set up a payment arrangement with the other debts that are open even if its just 20$ a month till the CC and NFCU are paid off? Well I guess the only other accounts that are open are the medical, verizon and utility one. As long as I'm giving them something they won't close the account right?

Starting Scores:4/12/15 TU 525 EQ 527 EX?
Current Scores:7/6/15 TU 566 EQ 564 EX 512
Goal score in 18 months (10/16) 750 Is it possible??
Established Contributor

Re: My attempt at repairing my credit!!

Ummm.
they are showing as collections right?
so they are already hitting you bad.
(Someone please jump in here)

My opinion is HONESTLY save to pay them in full and request a pay for delete. Meaning you pay the entire balance and they delete the negative report to the credit reporting agencies. They need to give you their word that they will delete and not just mark it as paid in writing.

If you talk to them about a payment they will probably request more of a monthly payment you can make and it will start your clock over.
Member

Re: My attempt at repairing my credit!!

So once the CC and credit union bills are paid off you're telling me I should just save like crazy and offer the OC a lump sum for a deletion? Even though that may take me 8 months to do?  Is that the smartest way to approach this situation?  I'm not questioning you, I am totally new to this and am trying to learn as much as I can. I have probually spent 20 hours just in the past 3 days studying these sites and going over my credit profile,  I'm determined to master the art of obtaining an awesome credit score Smiley LOL

Starting Scores:4/12/15 TU 525 EQ 527 EX?
Current Scores:7/6/15 TU 566 EQ 564 EX 512
Goal score in 18 months (10/16) 750 Is it possible??