Newcomer, Student, poor credit, misinformed and concerned..

[Anonymous]

Hello All,

I have been a lurker on this site for quite a time, but have always failed to create an account.

The depth of knowledge on this site is staggering and quite impressive, especially to me as my knowledge of credit, credit history and credit scoring is far from adequate.

In joining the site I hope to draw from this knowledge and be able to one day consider myself a FICO genius.

With that said here are my concerns, and my current credit situation..

My credit score is south of 600.

Capital One secured credit card w/ a 200$ limit.

Couple student loans in good standing, as im still a student at UNT (candidate for an MBA in Accounting.. go figure :/)

About 5 charged off credit cards that have been sold to collection agencies

Never had an auto loan

And.. the deal breaker (hopefully not ).. ive been consulting with Lexington Law since April..

Even with Lexington, that helpless feeling of no control is still there and id like that to go away very much, but im not too sure what steps to take next.. Help??

[2NE1]

Interesting how no one's replied in the past five hours... well, welcome to the forums!

I'd suggest reading the following:

Common Abbreviations

Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.

What Steps Do I Take - great for learning the repair process.

and Example letters - PFDs, GWs, DVs, etc.

(credit: @llecs)

• Now, if this was my credit profile, the way I would approach it is:

1. Pull all of my three credit reports off: http://annualcreditreport.com/

2. Take care of the 5 CO accounts. Send a DV letter to each one that's reporting. You should be able to find their mailing address of each one. Do you currently have the cash to pay them (preferably in full)? if so, offer a PFD. By the way who are the OCs of these accounts?

3. Stop whatever payments you're making to Lexington Law. You shouldn't waste your $ with them. With the help of this forum you should be able to handle your negative TLs by getting them removed the right way. LL usually tends to "dispute" everything to the CRAs and that causes a red flag.

Good luck!