Newbie-advice welcome for rebuilding :-)

[leenburke]

Hubby was laid off and we ended up doing a short sale on our house in June 2011.  We are approaching the 3 year mark (yay!) and would love to be able to purchase a home again (this time with more savings and a bit more prepared).  So we're trying to get our credit reports straightened out and I would love any and all input.  

Hubby's scores (lender pull) EQ 644 TU 630 EX 614

My scores (lender pull) EQ 599 TU 584 EX 611

Hubby's report:

Open accounts Ally Financial (car loan) balance $20396 (3 30 day lates in 7/13, 6/13, 4/13)  Going to try to GW the lates, fingers crossed

Capital One financial mastercard opened 1/14 credit limit $300 - planning to use it, pay it, use it pay it (not sure if this is a good plan making mulitiple payments a month, would love advice), TLI 7/14

Baddies: 

Capital One Auto Paid off 3/09; 5 30 day lates, 1 60 day late

Wells Fargo Dealer Services paid off 9/12, 13 30 day lates, 1 60 day late 

Portfolio recov collection date of last activity 4/09 $582  going to try to PFD this

RJM Acquisitions collection $164 going to try to PFD this

Credit Coll  Collection $58  Going to try to PFD this

HSBC Charge off Date of last activity 2/09 $582 (sold to Portfolio)  Will attempt GW if Portfolio agrees to PFD

Bank of America Mortgage (short sale) Settled for less than the full amount 6/11

My scores (lender pull) EQ 599 TU 584 EX 611

My report

Dept of Education/NE $5119 had 120 day late in 8/12, currently in forebearance until 10/14

Dept of Education/NE $4736 same as above

Opened Capital one finance mastercard 1/14, will attempt TIL 7/14 $300 limit, planning on same as above for hubby, would love input.

Baddies:

Capital One Auto Paid off 3/09; 5 30 day lates, 1 60 day late (joint account with hubby)

Wells Fargo Dealer Services paid off 9/12, 13 30 day lates, 1 60 day late  (joint account with hubby)

'Chase Receivables collection $494 will attempt pfd

Figis collection $411 will attempt pfd

Swiss Colony charge off $124  not sure what if anything I should attempt here since it is charged off

American Adjustment Bureau medical collection $50 will attempt PFD

American Adjustment Bureau medical collection $25 will attempt pfd

First Bank of Delaware/continental charge off $300 this says it was purchased by another lender but there is no history of that on my report, not sure what to do here

Any suggestions or advice are more than welcome.  Would love to hear PFD or GW success stories with any of the creditors we have.  I need to see a light at the end of the tunnel :-)

[gdale6]

Using your new Cap-1 card to near limit and paying off several times a month will not hurt you in fact it will help you with Cap-1, just be sure to have the card near paid off prior to statement cut day. I wish you success

[leenburke]

Thanks, that is helpful to know.  I had read that we should make sure there is a zero balance prior to the payment due date so that when they report to the bureaus it shows up as a zero balance.  Is that accurate?

[myjourney]

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@leenburke wrote:

Thanks, that is helpful to know.  I had read that we should make sure there is a zero balance prior to the payment due date so that when they report to the bureaus it shows up as a zero balance.  Is that accurate?

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No it's not correct 

For max Fico scoring 

No matter how many CC's you have

Pay all CC's off (PIF) $0..... except one CC

On the card you don't pay off let a balance report to the CB's between 1-9% (statement cut)

When statement cuts PIF

[leenburke]

Thank you!

[Shogun]

After much experimentation and tweaking, I found the sweet spot for one of my cards to be reporting at 4%.  Just because I was curious.

[leenburke]

Progress, not pulling scores yet though so who knows...

Hubby's report:

Open accounts Ally Financial (car loan) balance $20396 (3 30 day lates in 7/13, 6/13, 4/13)  Going to try to GW the lates, fingers crossed Emailed corporate, got a snippy phone response from secretary, will NOT GW lates :-(

Capital One financial mastercard opened 1/14 credit limit $300 - NOT REPORTING TO CREDIT BUREAUS YET

Baddies: 

Capital One Auto Paid off 3/09; 5 30 day lates, 1 60 day late IS THIS WORTH TRYING TO GW SINCE IT IS OLDER?

Wells Fargo Dealer Services paid off 9/12, 13 30 day lates, 1 60 day late SENT GW VIA EMAIL AND MAIL, NO RESPONSE AS OF YET

Portfolio recov collection date of last activity 4/09 $582  SENT EMAIL TO OMBUDSMAN, SAYS THEY DO NOT DO PFD'S, WILL KEEP TRYING

RJM Acquisitions collection $164 going to try to PFD this SUCCESS THEY ARE DELETING  

Credit Coll  Collection $58  Going to try to PFD this  ORIGINAL CREDITOR WAS ESURANCE, CALLED AND THEY SAID WE ALREADY PAID THIS, DELETING ASAP 

HSBC Charge off Date of last activity 2/09 $582 (sold to Portfolio)  Will attempt GW if Portfolio agrees to PFD

Bank of America Mortgage (short sale) Settled for less than the full amount 6/11

My report

Dept of Education/NE $5119 had 120 day late in 8/12, currently in forebearance until 10/14

Dept of Education/NE $4736 same as above

Opened Capital one finance mastercard 1/14, will attempt TIL 7/14 $300 limit NOT REPORTING TO CREDIT BUREAUS YET

Baddies:

Capital One Auto Paid off 3/09; 5 30 day lates, 1 60 day late (joint account with hubby)

Wells Fargo Dealer Services paid off 9/12, 13 30 day lates, 1 60 day late  (joint account with hubby)

'Chase Receivables collection $494 will attempt pfd  EMAILED AND AGREED TO DELETION FOR FULL PAYMENT 

Figis collection $411 will attempt pfd, HAVE SENT MULTIPLE SNAIL MAILS, NO RESPONSE, NOT EVEN A BILL 

Swiss Colony charge off $124  not sure what if anything I should attempt here since it is charged off, HAVE SENT MULTIPLE SNAIL MAILS, NO RESPONSE

American Adjustment Bureau medical collection $50 will attempt PFD CALLED AND THEY ARE DELETING FOR FULL PAYMENT 

American Adjustment Bureau medical collection $25 will attempt pfd CALLED AND THEY ARE DELETING FOR FULL PAYMENT 

First Bank of Delaware/continental charge off $300 this says it was purchased by another lender but there is no history of that on my report, not sure what to do here DISPUTED WITH CREDIT AGENCY AND WAS DELETED  

If anyone has any good contacts for Portfolio Recovery (or advice for dealing with them) I would be thrilled for any info.  Also, any success stories/contacts for Figis and Swiss Colony would be more than welcomed.  Love this forum, thank you for all the great information!

[mebell]

Congrats on the progress thus far!

[mebell]

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@Shogun wrote:

After much experimentation and tweaking, I found the sweet spot for one of my cards to be reporting at 4%.  Just because I was curious.

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This must have taken quite some time to figure out huh?!?

[coldnmn]

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@leenburke wrote:

Progress, not pulling scores yet though so who knows...

Hubby's report:

Open accounts Ally Financial (car loan) balance $20396 (3 30 day lates in 7/13, 6/13, 4/13)  Going to try to GW the lates, fingers crossed Emailed corporate, got a snippy phone response from secretary, will NOT GW lates :-(

Capital One financial mastercard opened 1/14 credit limit $300 - NOT REPORTING TO CREDIT BUREAUS YET

Baddies: 

Capital One Auto Paid off 3/09; 5 30 day lates, 1 60 day late IS THIS WORTH TRYING TO GW SINCE IT IS OLDER?

Wells Fargo Dealer Services paid off 9/12, 13 30 day lates, 1 60 day late SENT GW VIA EMAIL AND MAIL, NO RESPONSE AS OF YET

Portfolio recov collection date of last activity 4/09 $582  SENT EMAIL TO OMBUDSMAN, SAYS THEY DO NOT DO PFD'S, WILL KEEP TRYING

RJM Acquisitions collection $164 going to try to PFD this SUCCESS THEY ARE DELETING  

Credit Coll  Collection $58  Going to try to PFD this  ORIGINAL CREDITOR WAS ESURANCE, CALLED AND THEY SAID WE ALREADY PAID THIS, DELETING ASAP 

HSBC Charge off Date of last activity 2/09 $582 (sold to Portfolio)  Will attempt GW if Portfolio agrees to PFD

Bank of America Mortgage (short sale) Settled for less than the full amount 6/11

My report

Dept of Education/NE $5119 had 120 day late in 8/12, currently in forebearance until 10/14

Dept of Education/NE $4736 same as above

Opened Capital one finance mastercard 1/14, will attempt TIL 7/14 $300 limit NOT REPORTING TO CREDIT BUREAUS YET

Baddies:

Capital One Auto Paid off 3/09; 5 30 day lates, 1 60 day late (joint account with hubby)

Wells Fargo Dealer Services paid off 9/12, 13 30 day lates, 1 60 day late  (joint account with hubby)

'Chase Receivables collection $494 will attempt pfd  EMAILED AND AGREED TO DELETION FOR FULL PAYMENT 

Figis collection $411 will attempt pfd, HAVE SENT MULTIPLE SNAIL MAILS, NO RESPONSE, NOT EVEN A BILL 

Swiss Colony charge off $124  not sure what if anything I should attempt here since it is charged off, HAVE SENT MULTIPLE SNAIL MAILS, NO RESPONSE

American Adjustment Bureau medical collection $50 will attempt PFD CALLED AND THEY ARE DELETING FOR FULL PAYMENT 

American Adjustment Bureau medical collection $25 will attempt pfd CALLED AND THEY ARE DELETING FOR FULL PAYMENT 

First Bank of Delaware/continental charge off $300 this says it was purchased by another lender but there is no history of that on my report, not sure what to do here DISPUTED WITH CREDIT AGENCY AND WAS DELETED  

If anyone has any good contacts for Portfolio Recovery (or advice for dealing with them) I would be thrilled for any info.  Also, any success stories/contacts for Figis and Swiss Colony would be more than welcomed.  Love this forum, thank you for all the great information!

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Great progress in your credit journey!  Great progress for your knew home! I wish you the best Good Luck!