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Newb - Starting the journey

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Anonymous
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Newb - Starting the journey

Hi Everyone,

 

Newb here but I'm excited about all the success stories I've read about. I'm just starting the repair process (scores are mid 500's across all reports) but I think I have a few things going in my favor.

 

- Next month I will make my 9th student loan rehab payment. Hopefully that wil give me a decent boost.

 

- I had a cap one card that I closed years ago that had 3 lates on it, 30, 60 and 90. I called them and they agreed to take the lates of my credit report. (that was really easy)

 

- I have an Amex that was charged off for a small amount (400ish) about a year ago. I'm going to send a goodwill letter today explaining my financial situation at the time in hopes that they remove the negativ info. Also hoping to avoid their blacklist since I fly Delta all the time and would love their SkyMiles card in the near future.

 

- I have a USBank credit card that was charged off as well. Total is $1500 that I am making minimum payments on until I figure out the best way to proceed. Not sure if I should just pay it off or ask for pay for delete. If possible, I'd love to keep the positive info on the account, there's a good 5 years of on time payment history. Any advice here? Maybe they'll agree to remove the negative info in exchange for full payment.

 

- I just opened a cap one secured card to help the rebuilding process.

 

- I also have an auto loan from a couple years ago that was paid in full and never missed a payment.

 

If I can get the negative info removed, hopefully I'll be in the 700 club before too long. Fingers crossed. Any tips from those who've been there would be greatly appreciated.

 

Thanks!!

Message 1 of 5
4 REPLIES 4
Anonymous
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Re: Newb - Starting the journey


@Anonymous wrote:

Hi Everyone,

 

Newb here but I'm excited about all the success stories I've read about. I'm just starting the repair process (scores are mid 500's across all reports) but I think I have a few things going in my favor.

 

- Next month I will make my 9th student loan rehab payment. Hopefully that wil give me a decent boost. (you should see a good boost from this, but exact amount also depends on so many other credit factors)

 

- I had a cap one card that I closed years ago that had 3 lates on it, 30, 60 and 90. I called them and they agreed to take the lates of my credit report. (that was really easy) (The removal of 60 and 90 day payments should help the most)

 

- I have an Amex that was charged off for a small amount (400ish) about a year ago. I'm going to send a goodwill letter today explaining my financial situation at the time in hopes that they remove the negativ info. Also hoping to avoid their blacklist since I fly Delta all the time and would love their SkyMiles card in the near future. (You may have to be vigilant and be prepared for a fight. CO's are not easy to get rid of)

 

- I have a USBank credit card that was charged off as well. Total is $1500 that I am making minimum payments on until I figure out the best way to proceed. Not sure if I should just pay it off or ask for pay for delete. If possible, I'd love to keep the positive info on the account, there's a good 5 years of on time payment history. Any advice here? Maybe they'll agree to remove the negative info in exchange for full payment. (If you're already making payments on it, a PFD may not work but it is always worth the effort and time. The CO is one of the worst things you can have on your report. In most cases you will not be able to simply remove the bad info and keep the good info. It's kind of an all or nothing agreement when you PFD. Selective PFD is something I have yet to encounter)

 

- I just opened a cap one secured card to help the rebuilding process. (Try to get 3 positive tradelines)

 

- I also have an auto loan from a couple years ago that was paid in full and never missed a payment. (Paying off an installment loan will do almost nothing for your credit score. Paid off my car last year and got a healthy 0 point boost for it)

 

If I can get the negative info removed, hopefully I'll be in the 700 club before too long. Fingers crossed. Any tips from those who've been there would be greatly appreciated. (Just be patient and stay hopeful. I've helped my wife raise her score from the 560's to just under 700 since July)

 

Thanks!!


Welcome and let me be the first to say credit repair can not be expected to be easy, painless, or make sense at times lol. Everyone's experiences will vary and some will receive better luck than others. The quickest way to get your score up is to keep your credit utilization at less than 10% and to have at least 3 open credit lines. 

Message 2 of 5
Anonymous
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Re: Newb - Starting the journey

Thanks for the tips. I'm going to try to get the amex and USBank info removed from my report and then apply for a couple other CC's to get some more lines of credit, obvioulsy keeping the utilization low and paying in full every month. :-)

 

I called USBank today and they said there was nothing they could do. About to put a letter in the mail to the CEO, maybe one to thier credit bureau as well.

Message 3 of 5
Anonymous
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Re: Newb - Starting the journey

GW's are tough to get. Some people get love on their first shot, many people get rejected many times before anything good happens, and some people never get a favorable response.  It's all a crapshoot but it's worth the effort. Can't score if you dont' shoot the ball lol

Message 4 of 5
Anonymous
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Re: Newb - Starting the journey

I send out letters everyweek. I plan on doing that until 2017 lol.

Message 5 of 5
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