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New guy's story and a few questions.

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turtletello
Member

New guy's story and a few questions.

When I was 19 I received a Citi card with a $2500 limit along with a free sub sandwich at my college.  Later that year I received a US Bank card worth abou $450 and an AE Outfitters card worth $150.

 

As an irresponsible teen I carried a lot of debt while making the minimum payments but then my parent was out of work as was I so I maxed out the cards with good things such as books and supplies and gave up.

 

I graduated with a score in the low 500's.  I had resigned myself to depression during by post collegiate job hunt and just having bad credit until last year when I signed up for a free trial here.  I was doing some research on charge off's and such.  When I cancelled the woman told me (as I determined from researching here) that it may be the best option to wait for these items to fall off because so much time had passed.

 

Almost a year later I have a secured Capital One that just was increased to a $300 CL as well as a Merrick Bank VISA witha  $650 line that doubles if the first 7 payments are made on time ( I haven't missed any payments since my epiphany).

 

I am 24 now, engaged, and working a full time job with a base of 50k plus monthly bonuses. My scores are EQ639 TU642 EX602!?!?! (what's with that).

 

 


Here are my questions:

 

The Citi Card from my freshman year of college no longer shows on my report though the collection account Unifund does which has a red flag.  My largest past balance with fees and such was $3216 but this account is $7457.  The date of last activity is July 2009.

 

My old American Eagle Outfitters card is showing as balance of $0 (largest past due $98) with a red flag and a charge off. Last activity Jun 2010.

 

My old US Bank card is showing a red flag, a balcne of $0 (largest past due $655) and has been transferred/sold.  Last Activity July 2010.

 

The collection account for the US Bank card was shown on my report at varying dates each year when I used my free trial so I disputed it as reaging of debt. Shows a balance of $668 but no red flag.

 

My FINAL red flag is what I believe to be an old medical bill from Jun 2010 for $298 now $308 that I never received a bill for.

 

 

SORRY for the long post but I just wanted to kind of walk myself through everything.  I have made a great change in my life and although my scores may not be worth bragging about they are night and day from what I used to have.  I am looking forward to fully repaiiring my credit and continuing on with my life.

 

If you all have any suggestions about my instances above please feel free to post.  I'm always eager to learn more. Should I wait for them to fall off? 3/4 of those I could pay off easily but would only do so in a pay for delete manner (correct me if that's not the best route). 

 

 

-Dan

 

 

 

 


Starting Score: 542
Current Score: 639
Goal Score: 760


Take the myFICO Fitness Challenge
Message 1 of 6
5 REPLIES 5
llecs
Moderator Emeritus

Re: New guy's story and a few questions.

Point by point...

 

Your scores are good for the baddies reporting. That probably indicates they are getting older.

 

For Citi, make sure SOL has passed before doing anything or make sure you have 100% saved up. When ready, send a PFD letter to whomever is reporting (Unifund?).

 

AE - send a GW.

 

US Bank - GW.

 

The CA on behalf of US Bank - send a PFD if you agree with the balance.

 

Medical CA - DV. If they verify and you agree then send a PFD.

 

Waiting for them to drop is a personal call. IMO and IME, I'd rather take care of it. Even if it drops they can still sue in some states and they can collect forever. I have one CA still chasing me from a 1997 baddie.

 

 

Message 2 of 6
turtletello
Member

Re: New guy's story and a few questions.

GW= Good will?

 

 

For US Bank should I see if they can retract it from the collection agency and pay directly them?

 

 

BTW Go Skins.  Second favorite team behind my Bears.


Starting Score: 542
Current Score: 639
Goal Score: 760


Take the myFICO Fitness Challenge
Message 3 of 6
DaBears
Senior Contributor

Re: New guy's story and a few questions.


@turtletello wrote:

GW= Good will?

 

 

For US Bank should I see if they can retract it from the collection agency and pay directly them?

 

 

BTW Go Skins.  Second favorite team behind my Bears.


Them fighting words!!!! Smiley MadSmiley LOL

 

<~~~~~Look at profile pic Smiley LOL

Message 4 of 6
turtletello
Member

Re: New guy's story and a few questions.

Ha. I'm going to bears camp tomorrow.


Starting Score: 542
Current Score: 639
Goal Score: 760


Take the myFICO Fitness Challenge
Message 5 of 6
llecs
Moderator Emeritus

Re: New guy's story and a few questions.

This thread is entertaining....

 

OP, check out the stickies in this board. There's a wealth of info including GW success stories, sample letters, and info on other items like PFDs, DVing, etc.

 

US bank no longer owns the debt. They cannot pull the debt back from anyone since they don't own it. In their eyes, it is paid and therefore a GW is the only option. The CA has the debt and that's who would have to be paid (via a PFD). I'd DV then mail a PFD. If they agree to the PFD in writing, then pay it and they'll delete.

Message 6 of 6
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