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New Member
Posts: 1
Registered: ‎03-24-2014
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New and Ready to Change

Hello all!

 

This has been a rough few years for me, but I'm finally in a position to start fixing some of the mistakes I've made. I've cleaned up a lot of things in my personal life, now it is time to really tackle my financial. As far as debt, I'm really not in a bad off position. I recently got married and with our combined efforts my debts could be paid off relatively quickly. However my credit is terrible. We were recently getting a new car, and were going to put it in both of our names to help my score. It is at a horrendous 516. We decided not to since with my husband's super high credit we'd be saving thousands by putting it in his name only. He wants to just pay everything off, but from the research I've done, I can see how that might not be exactly to our benefit. Our major concern is that we would like to buy a home in the next few years, and I want to make sure I'm able to contribute, espcially since once I graduate from school my income would be a great addition to add for mortgage consideration.

 

So, here is everything. Laid bare. Thanks in advance for your help.

 

Collections:

 

Portfolio RC, Original Creditor GE Bank $922

 

CREDBURSRV, Original Creditor Carolina Healh $297

 

Credit Coll, Original Creditor LabCorp $103

 

Bay Area CS, Original Creditor Unkown $181

 

 

Charge Off:

 

GE Bank $644

 

Car Payment:

$225 month on a car that broke down and was scrapped because I couldn't keep it in the street. I have about $1000 left on the payment.

 

Also, a debt collector contacted me about another medical bill. I asked for details on the bill and all I got in the mail was a contract to fill out saying I could pay a certain amount of money each month. I haven't done anything about it, because I want to find more information. It's not showing up on my report, so I think it's someone contracted by the hospital maybe? 

 

The cards with GE were my only accounts and I don't have any open cards right now. I have a utility bill in my name right now, and that's the only thing I have going for me. I have student loans, but I don't have to pay on them while in school, and once I graduate I (hopefully) will be able to work in a low income area which will get a great deal of that paid for me. We just relocated and I am in the process of looking for a PT job to help out and keep me busy during deployment, so really money isn't an issue here. I just want to know what would be the most logical way to go about tackling this.

 

I think that's everything. I can't wait to hear from you guys. 

Moderator
Posts: 22,105
Registered: ‎12-13-2013
0

Re: New and Ready to Change


BeachyPeach wrote:

Hello all!

 

This has been a rough few years for me, but I'm finally in a position to start fixing some of the mistakes I've made. I've cleaned up a lot of things in my personal life, now it is time to really tackle my financial. As far as debt, I'm really not in a bad off position. I recently got married and with our combined efforts my debts could be paid off relatively quickly. However my credit is terrible. We were recently getting a new car, and were going to put it in both of our names to help my score. It is at a horrendous 516. We decided not to since with my husband's super high credit we'd be saving thousands by putting it in his name only. He wants to just pay everything off, but from the research I've done, I can see how that might not be exactly to our benefit. Our major concern is that we would like to buy a home in the next few years, and I want to make sure I'm able to contribute, espcially since once I graduate from school my income would be a great addition to add for mortgage consideration.

 

So, here is everything. Laid bare. Thanks in advance for your help.

 

Collections:

 

Portfolio RC, Original Creditor GE Bank $922

 

CREDBURSRV, Original Creditor Carolina Healh $297

 

Credit Coll, Original Creditor LabCorp $103

 

Bay Area CS, Original Creditor Unkown $181

 

 

Charge Off:

 

GE Bank $644

 

Car Payment:

$225 month on a car that broke down and was scrapped because I couldn't keep it in the street. I have about $1000 left on the payment.

 

Also, a debt collector contacted me about another medical bill. I asked for details on the bill and all I got in the mail was a contract to fill out saying I could pay a certain amount of money each month. I haven't done anything about it, because I want to find more information. It's not showing up on my report, so I think it's someone contracted by the hospital maybe? 

 

The cards with GE were my only accounts and I don't have any open cards right now. I have a utility bill in my name right now, and that's the only thing I have going for me. I have student loans, but I don't have to pay on them while in school, and once I graduate I (hopefully) will be able to work in a low income area which will get a great deal of that paid for me. We just relocated and I am in the process of looking for a PT job to help out and keep me busy during deployment, so really money isn't an issue here. I just want to know what would be the most logical way to go about tackling this.

 

I think that's everything. I can't wait to hear from you guys. 


For all medical debts Google search the HIPAA Process and contact its creator, it cant be discussed on this board. As far as your other collections you are going to want to offer PFDs, same thing with an OC that has not yet sent it to a CA. You need revolving cards to build your score so I would be looking at joining SDFCU and getting their secured credit card, if you put the money in savings that you want for a limit before you app you can call them and there will be no HP. I would then look to your local CUs and get another secured card to start building your credit.


EX Fico 08 BC 07/15: 806 (+14); EX Fico 04 V2 06/14: 775
EQ Beacon 5.0 12/14 757
TU Fico 8 07/15: 754 (-5)
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