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New Here Giving Thanks

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keithbward
Frequent Contributor

New Here Giving Thanks

I've lurked around for a while like I'm sure most of us have. I never really cared much about credit and made some bad decisions. Finally have some sense of direction for my life and wanted to take control of my financial future and potential. I currently just got a new job that is a great increase in salary and has made me want to get a handle on everything. I think my scores are in the high 500's. Got a subscription to myFico here and it's currently showing a 579. Experian shows a 601 and myFico from Merrick Bank shows a 604. The current credit situation looking for some advice from you seasoned people here. I currently have tradelines from Merrick Bank ($700, 1 30-day late in June of 2013. thinking I can get them to vacate that late charge come June 2014 since I have paid on time and they increased my limit from $500 to $700 in November), Milestone Mastercard ($300, always current), Captial One ($200 secured, always current), a few of the comenity store cards ($250-$300, all current), student loans from Fed Servicing (all current), Fingerhut ($400 current), First Premier (yea I know...but there's a reasoning $300, current). Just recently got a car loan from Capital One Auto. I've made the first payment so I'm waiting for that to show. Yesterday applied for a secured personal loan from my bank since I had some extra savings ($1000). Now for the bad. I had a charge off from First Premier back in 2009 that was sold to Midland Credit Management. I've since settled that account with Midland and actually had my Experian score jumpe from 554 to 601 in one day behind it showing as "Closed Current" on my credit report. I was thinking of asking Midland and First Premier to delete the derogatory information since the OC has given my another line once I show a consistent payment history. There's a tax lien on my Equifax credit report from a city and a county I've never been to that I am currently disputing as I don't even have any knowledge of it from 2006. Hopefully that gets handled as quickly as possible. And then there are 3 medical collections. One for $1892 from DBA Paragon Revenue (opened 11/1/2012), $1810 from Medical Data Systems (opened 5/1/2013) and I think these two are the same debt as the original creditor is a hospital I've been to once back in 2011 when I dislocated my shoulder and didn't have medical insurance. The last one from NCO Financial for $2168 (opened 2/1/2009). A lot of inquiries due to my shopping for a car loan and the dealership doing so also. That about sums up my credit report and what it entails. Looking for some advice on how I should move forward in my quest for a great credit report. Reading this site has help my a lot and given me hope about a topic I just really never cared about and didn't understand how important it is.

Starting Scores - EX 547 || EQ 541 || TU 538 - 01/21/2014
Current Scores - EX 691 || EQ 628??? || TU 695 - 08/04/2015
Goal Scores - 720 across the board
Current Utilization - 12% and going down
Message 1 of 5
4 REPLIES 4
gdale6
Moderator Emeritus

Re: New Here Giving Thanks

For medical collections attempt the HIPAA Process you can Google it. GW letters for the deletion of the account that you mentioned. I would cancel the request for the secured personal loan you dont really need it with the auto loan reporting just keep it current. All inquries from the auto purchase that were made within a 2 week period count as 1 in FICOs eyes but you will prob have to explain to an analyst on recon if denied for too many of them. Keep your overall balances on revolving cards low preferrably all showing a 0 balance except 1 which you will let report a 1-9% balance of its CL each month to the CRAs. Good luck in your journey Smiley Happy

Message 2 of 5
keithbward
Frequent Contributor

Re: New Here Giving Thanks

So I shouldn't go through with the secured loan? Also what exactly does the HIPPA process entail? The only paperwork I have is an amount I owe. It doesn't say anything about my specific services so they wouldn't be in violation would they? My current utilization stays between 9-15%. Should it be lower than that? Thanks for the reply. I appreciate it.

Starting Scores - EX 547 || EQ 541 || TU 538 - 01/21/2014
Current Scores - EX 691 || EQ 628??? || TU 695 - 08/04/2015
Goal Scores - 720 across the board
Current Utilization - 12% and going down
Message 3 of 5
randyrhodes
Established Contributor

Re: New Here Giving Thanks

We cannot discuss specifics on the HIPAA process here. I will say they have to be paid first before you can attempt it. Good luck
Message 4 of 5
keithbward
Frequent Contributor

Re: New Here Giving Thanks

Ok thanks. Found out that the tax lien is 100% not mine so the dispute investigation is showing a completion date of about 3/28/2014. Sending GW letters to First Premier since they have already started reporting positively on my credit report and get them to delete the negative account as well as GW Midland since the OC has opened me a new line of credit and I have settled that old balance. Would it be wise to contact the hospital and see if they can pull back the medical bills and get on a payment plan with them?

Starting Scores - EX 547 || EQ 541 || TU 538 - 01/21/2014
Current Scores - EX 691 || EQ 628??? || TU 695 - 08/04/2015
Goal Scores - 720 across the board
Current Utilization - 12% and going down
Message 5 of 5
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