Need help building credit

[ragensk8r]

I looked at my CR for the first time about 2 years ago and noticed most of it was medical bills when I didn't even know what credit was.

I need some advice in building my credit.. Any help will be appreciated.

my credit report details

10 credit inquires

2 state tax leans released

1 revolving account- USAA Secured CC 950/1000

3 installment accts- WV Air National Guard (Car) opened 1/1/2014, $3492 Current,

                                     WV Air National Guard (Car) opened 8/1/2013, $24240 Current

                                     Crescent Bank and Trust (Car) opened 10/1/2012, Closed Paid Satisfactorily

9 collection accts   - Eastern Acct System (Comcast Cable) opened 12/1/2013, $168

                                     EOS CCA (AT&T) opened 8/1/2012, $427

                                     NCO Financial (Medical) opened 11/1/2011, $402

                                     NCO Financial (Medical) opened 8/1/2011, $321

                                     NCO Financial (Medical) opened 11/1/2010, $284

                                     NCO Financial (Medical) opened 3/1/2011, $416

                                     NCO Financial (Medical) opened 7/1/2009 $149

                                     PENN Credit Corp. (Gas) opened 11/1/2013, $693 

                                     Eastern Acct System (Comcast Cable) opened 2/1/2011, paid, closed Nov 2012

I haven't paid anything off because i've heard it's better to let them fall off but that's why I'm here, I need  advice from people who have actually been in my position and have succeeded in building credit. I would really like to buy a home in the near future, again any help will be very appreciated.

[Shogun]

Well,, the idea of just letting things fall off can be a bit of a problem.  First off, it might be awhile before that happens.  Then there's the calling, harassing from the CAs.  There's the chance of getting a judgement if they are within the SOL.  

I prefer to handle the problem like an adult.  First off, do you owe them?  If so, then I would take care of them if possible.

The collections aren't really that much.  Can you afford to pay them?  I'd try to pay/settle if possible, and try it as a PFD if at all possible.

[ragensk8r]

Yes I can afford to pay them I was just unsure how it would effect my score. 

[Shogun]

Oh my, could you tell it was late and I was tired when I answered your last post?  I do believe I came off a bit snarky there, sorry about that.

Best case would be to try and get PFDs for these.  Pay/settle/negotiate with the CAs for removal of the the collections.

Since several of those are with NCO, I'd see about bundling all those up and making an offer on those, maybe you can get a discount.  I'd offer a % for deletion, see what they say, maybel they will accept or counter offer.

[ragensk8r]

Just curious, but if i got the collections PFDs would that hurt my score by getting rid of the history? Im new to this and trying to do it the best way possible.

[Whitneyy]

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@ragensk8r wrote:

Just curious, but if i got the collections PFDs would that hurt my score by getting rid of the history? Im new to this and trying to do it the best way possible.

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It's hurting your score by being a current negative collection that will probably report again next month.

[Whitneyy]

Everyone swears by this "hippa method" that we cannot discuss on this forum, but you can google it for help.

I on the other hand, I deal with the CA directly. I start with the smaller debts, and set up payments to pay them off, as long as they are willing to delete. I pay, you delete. Most of them DO especially medical collections. They aren't always going to want to give you something in writing, that's the only tricky part about the whole thing. So beware of that, I have had deletions once I paid as promised. It's all worth a try.

Good luck. 

Also, paying down your credit card will help a score boost and getting at least one more revolving line, like maybe a secured card from capital one or bank of america.

[ragensk8r]

all of my collections are potential negative closed idk if that helps

[Whitneyy]

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@ragensk8r wrote:

all of my collections are potential negative closed idk if that helps

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Just because they're closed doesn't mean you don't owe the debt or anything. Does it show last date reported or anything? 

[ragensk8r]

This is one of my collections.

Balance $427.00

Date Opened 8/1/2012

Account Status: Closed

Past Due $427.00

Payment Status Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department

Terms 1 Month Comments

24 MONTH PAYMENT HISTORY

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