New to the Forums and Advice needed

[djw1976]

Hello all,

Look forward to changing my current credit outlook for the better with advice

from this forum. I am probably like many others here trying to fix or rebuild my credit to the levels

I have always wanted them to be at. I am just not sure how to start the process of getting advice here

and applying it other than trying to read through the tons of posts and valuable info on this site.

Can anyone assist me or point me to the right direction, I have read most of the stickies, and created my account.

So I guess now is where I explain my credit history \ Background \ Goals?

Thanks for any help folks

[gdale6]

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djw1976 wrote:

Hello all,

Look forward to changing my current credit outlook for the better with advice

from this forum. I am probably like many others here trying to fix or rebuild my credit to the levels

I have always wanted them to be at. I am just not sure how to start the process of getting advice here

and applying it other than trying to read through the tons of posts and valuable info on this site.

Can anyone assist me or point me to the right direction, I have read most of the stickies, and created my account.

So I guess now is where I explain my credit history \ Background \ Goals?

Thanks for any help folks

---

welcome to my Fico

The best thing is to post your current profile and what you want to accomplish

[djw1976]

Sorry if this is a begginer question but how do I post my profile?

Thanks

[gdale6]

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@djw1976 wrote:

Sorry if this is a begginer question but how do I post my profile?

Thanks

---

Ok, you just type a post like this one  http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/My-rebuilding-journey-log/td-p/3940223

I would also post what open cards/loans you have now as well

[djw1976]

Ok so after looking at another users post about her Credit profile for other users to understand

her credit situation , here is the info I currently have.

Current scores are TU 639 / EQ 642

Current negatives - MIDLAND FUNDING LLC (old tmobile collection account)

                                Account was paid in full, was a collection - Balance 0 on all Credit Agencies

                                Account shows open but this is a closed collection account

                                Date closed 6/26/2013 - Date Paid 6/15/2013

                                Open Account - Don't know why this is an open account

                                Remarks - paid Collection / Estimated month and year this item will be removed

                                 03/2017

                                COMENITY BANK / EXPRESS (Clothing store account)

                             Maximum Delinquency of 120 days in 01/2010 and in

                             02/2010 for $85

                             Remarks  SETTLED-LESS THAN FULL BLNC<; CLOSED
                    Estimated month and year this item will be removed 2/2017

Lates -                  CITIFINANCIAL AUTO    

                             Maximum Delinquency of 30 days in 11/2008 and in

                             02/2010

                            Closed Account

                            CAPITAL ONE BANK USA NA

                             Maximum Delinquency of 60 days in 04/2011

                             Current; Paid or Paying as

                            Credit limit of $420 from 10/2012 to 03/2014; $750 from 04/2014 to 11/2014; $1,000 from 12/2014 to 03/2015

I have 3 Credit cards all unsecured -

Capitol One Mastercard $1000 Limit

Capitol One Quicksilver Visa $2000 Limit

Chase Freedom Visa $1500 Limit

Here is one problem area I know - Credit Card Limit Open CC Debt Rating Reported By $4,500 $4,276 (95% utilization) Very Poor TransUnion & Equifax

Rating

 I also have 2 Vehicle loans out both new accounts no late payments or will there be,

also have 2 closed Chase Financial Auto loans that are closed with no bad marks or late payments either.

Thanks

[Anonymous]

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@djw1976 wrote:

Ok so after looking at another users post about her Credit profile for other users to understand

her credit situation , here is the info I currently have.

Current scores are TU 639 / EQ 642

Current negatives - MIDLAND FUNDING LLC (old tmobile collection account)

                                Account was paid in full, was a collection - Balance 0 on all Credit Agencies

                                Account shows open but this is a closed collection account

                                Date closed 6/26/2013 - Date Paid 6/15/2013

                                Open Account - Don't know why this is an open account

                                Remarks - paid Collection / Estimated month and year this item will be removed

                                 03/2017

                                COMENITY BANK / EXPRESS (Clothing store account)

                             Maximum Delinquency of 120 days in 01/2010 and in

                             02/2010 for $85

                             Remarks  SETTLED-LESS THAN FULL BLNC<; CLOSED
                    Estimated month and year this item will be removed 2/2017

Lates -                  CITIFINANCIAL AUTO    

                             Maximum Delinquency of 30 days in 11/2008 and in

                             02/2010

                            Closed Account

                            CAPITAL ONE BANK USA NA

                             Maximum Delinquency of 60 days in 04/2011

                             Current; Paid or Paying as

                            Credit limit of $420 from 10/2012 to 03/2014; $750 from 04/2014 to 11/2014; $1,000 from 12/2014 to 03/2015

I have 3 Credit cards all unsecured -

Capitol One Mastercard $1000 Limit

Capitol One Quicksilver Visa $2000 Limit

Chase Freedom Visa $1500 Limit

Here is one problem area I know - Credit Card Limit Open CC Debt Rating Reported By $4,500 $4,276 (95% utilization) Very Poor TransUnion & Equifax

Rating

 I also have 2 Vehicle loans out both new accounts no late payments or will there be,

also have 2 closed Chase Financial Auto loans that are closed with no bad marks or late payments either.

Thanks

---

I'll let more experienced folks weigh in about the derogs. But I'm guessing that 95 % util rate is keeping you from getting approved for more cards and/or getting CLI increases. I think the rule of thumb is to get the util under 30%. Under 10% will maximize your score in the fastest way. 

[djw1976]

Yeah i totally agree the problem is I am getting married soon and a ring takes

all priority for the moment, from there, the credit cards all get paid down to under 30 percent total utilization.

Does anyone have any advice on how to deal with Midland, I have read many threads on them. I paid off the debt in full

with a promise of a closed account and a deletion off my credit report but that never happened just shows paid in full.

Thanks

[gdale6]

---

@djw1976 wrote:

Ok so after looking at another users post about her Credit profile for other users to understand

her credit situation , here is the info I currently have.

Current scores are TU 639 / EQ 642

Current negatives - MIDLAND FUNDING LLC (old tmobile collection account)

                                Account was paid in full, was a collection - Balance 0 on all Credit Agencies  

                                Account shows open but this is a closed collection account

                                Date closed 6/26/2013 - Date Paid 6/15/2013

                                Open Account - Don't know why this is an open account

                                Remarks - paid Collection / Estimated month and year this item will be removed

                                 03/2017  Go after it with GW letters   http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Sto...

                                COMENITY BANK / EXPRESS (Clothing store account)

                             Maximum Delinquency of 120 days in 01/2010 and in

                             02/2010 for $85

                             Remarks  SETTLED-LESS THAN FULL BLNC<; CLOSED
                    Estimated month and year this item will be removed 2/2017  GW letters

Lates -                  CITIFINANCIAL AUTO    

                             Maximum Delinquency of 30 days in 11/2008 and in

                             02/2010

                            Closed Account   Gw letters asking for removal of the lates, this one though the lates are older (and 30 day) and not weighing too much on your score they will drop at the 7 year mark until the account becomes a positive and then it remains for up to 10 years post close.

                            CAPITAL ONE BANK USA NA

                             Maximum Delinquency of 60 days in 04/2011

                             Current; Paid or Paying as

                            Credit limit of $420 from 10/2012 to 03/2014; $750 from 04/2014 to 11/2014; $1,000 from 12/2014 to 03/2015  GW letters to the EO asking for forgiveness on the lates.

I have 3 Credit cards all unsecured -

Capitol One Mastercard $1000 Limit

Capitol One Quicksilver Visa $2000 Limit

Chase Freedom Visa $1500 Limit

Here is one problem area I know - Credit Card Limit Open CC Debt Rating Reported By $4,500 $4,276 (95% utilization) Very Poor TransUnion & Equifax You need to pay them off and only have 1 report a small balance to the CRA each month and the others at 0.

Rating

 I also have 2 Vehicle loans out both new accounts no late payments or will there be,

also have 2 closed Chase Financial Auto loans that are closed with no bad marks or late payments either.

Thanks

---

[djw1976]

Thank you for the response I will look into starting to draft up responses to the

GW letters, one question though. Am I in any way risking any type of reposne from

these accounts that could further damage my credit score by sending these requests?

Also How do I know where to send these letters to? I have seen posts on ways to find

poeple to send to but it seems like a hot and miss process I am very confused right now.

Thanks

[gdale6]

---

@djw1976 wrote:

Thank you for the response I will look into starting to draft up responses to the

GW letters, one question though. Am I in any way risking any type of reposne from

these accounts that could further damage my credit score by sending these requests?

Thanks

---

Everything you do in this world is a calculated risk. In some cases more lates have been added, TLs updated in dispute status, new status reporting on TL that results in Fico drop. You have to be the judge if its worth it or not.

Send them to the office of the CEO, just Google for the headquarters addresses and CEO name.