icyhot wrote:
So my moms credit history is in the toilet. I wanna help her fix it. Here's an overview of her profile
Mid 400s
78% on time payments
No credit cards She needs to open 3 bankcards ASAP even if she has to go secured. She should try the Cap-1 prequal link to see what comes up, a CO in 08 will not be a factor if its been paid, if they had to sell it they may have a problem but not always. http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Secured-Cards-Database/td-p/3846302
19 student loan accounts in deferment status
1 car loan with several missed payments Send the creditor a GW letter asking for forgiveness on the lates
http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Sto...
4 collection accounts totaling $1600 Send them PFD offers
http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/...
http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/td-p/4519
2 public court records totaling $1200 What kind of PR? Tax lien or judgment?
She had a Cap One card that was charged off in 2008. I don't know if she can dispute any of the baddies because even if they're there erroneously, she doesn't have documentation. My suggestions are to pay the collection items and hope they fall off, then get some secured cards and manage them for her so she doesn't forget to make payments. And also make her an AU on my cards that have perfect history but just not give jet the actual card. Any suggestions? I would only make her an AU on your oldest card. Make sure they will report it, I know Cap-1 will.
@icyhot wrote:
A court judgement. I don't think the charge off was ever paid. My oldest card is a Citi. And what's a PFD?
The judgment is most likely more than what it says now especially of its an older one. The way to approach this one is a settlement offer to the judgment creditor. A judgment can be renewed pretty much forever in all states so its not just going to go away even though it can only be reported for 7 years from the date it was granted or the governing state statute period of time, whichever is longer. I have no idea if Citi reports you would need to ask them if they do.
A PFD is pay for delete. http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Guide-To-Common-Abbreviations/m-p/224988?jump...