Not sure where to start - please advise

[RCOH]

Hello,

I'm trying to get on the path to rebuilding my credit and need some advice on where and how to start. I have 16 items on my report currently, 1 phone bill $600, 1 $93 insurance payment and the rest (14) all Medical. I also have 1 public record for a tax lean over 12 years ago.

I received my free annual credit report's from Trans and Exp via the web but had to send it for my Equ report (which I have done). I don't see the public record on my Trans or Exp but MyFICO does show the public record on  the Equ report. This debt was paid over 12 year ago back in 2001. I went to the County Clerk of Court and have a copy of the 'release' from the court's. What should I do about the public record?

On the 16 items on my report, 5 of them drop off on their own within 8 months. That would leave 9 medical items left on my report. Should I make payment arrangement's with the CA for the Medical or just pay them off one at a time? Many of them are for small amounts like $200 etc.

On the Phone Bill CA, they have been reporting 'missed payments' each month since they received the account which I was unaware of until I started this journey. Is that legal since I NEVER had a payment arrangement with them? I have the $ to pay off said bill but don't know if I should just pay them or ask for these late payments to be corrected first?

I have also applied for and should receive my secured Capital One Card soon, deposit is already made. Question with this, should I continue to increase my credit limit with them each month since they have advised me that I can increase my limit up to $3000 if I like just by adding to my deposit.

Any and all help you could give would be greatly appreciated! I'm a little overwhelmed on where to go from here.

Thank in advance for your advice!

[guiness56]

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@RCOH wrote:

Hello,

I'm trying to get on the path to rebuilding my credit and need some advice on where and how to start. I have 16 items on my report currently, 1 phone bill $600, 1 $93 insurance payment and the rest (14) all Medical. I also have 1 public record for a tax lean over 12 years ago.

I received my free annual credit report's from Trans and Exp via the web but had to send it for my Equ report (which I have done). I don't see the public record on my Trans or Exp but MyFICO does show the public record on  the Equ report. This debt was paid over 12 year ago back in 2001. I went to the County Clerk of Court and have a copy of the 'release' from the court's. What should I do about the public record?  Does EQ show it was paid?  If not, send in a copy of the release and it should be removed.  Tax Liens report for 7 years from date paid so this should come off when they have proof it was paid.  If it does show paid, you need to nudge EQ to have it removed.  Call them and tell them it is reporting way past the allowed time for a paid tax lien.

On the 16 items on my report, 5 of them drop off on their own within 8 months. That would leave 9 medical items left on my report. Should I make payment arrangement's with the CA for the Medical or just pay them off one at a time? Many of them are for small amounts like $200 etc. You can do it however is more financially feasible for you.  But I would definitely negogiate a pay for delete either way you choose.

On the Phone Bill CA, they have been reporting 'missed payments' each month since they received the account which I was unaware of until I started this journey. Is that legal since I NEVER had a payment arrangement with them? I have the $ to pay off said bill but don't know if I should just pay them or ask for these late payments to be corrected first?  A CA cannot report a late payment on their TL.  You can do a PFD if you know it is yours.

I have also applied for and should receive my secured Capital One Card soon, deposit is already made. Question with this, should I continue to increase my credit limit with them each month since they have advised me that I can increase my limit up to $3000 if I like just by adding to my deposit.  It isn't the CL that is important but how you mangage the card.  Do not let it report a 0 balance.  Have it report at 9% or under and make ontime payments.  Is this your only revolving?

Any and all help you could give would be greatly appreciated! I'm a little overwhelmed on where to go from here.

Thank in advance for your advice!

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[RCOH]

EQ does not show the Tax Lien as paid. I thought the legal timeline was only 7 to 10 years after reading this forum. It doesn't show at all on the Trans or Exp reports I have.

Negotiate a PFD for the Medical, got it. Should I wait until the 5 drop first? It's not that long to wait really and I could save $ to pay the rest during that time frame.

What should I do about the reported 'late payment's' from the CA? It is on the report's! It is my bill, it's an old cell bill from 2008 when most of us like me had financial difficulties.

I read about the stay around 9% in other threads, just wasn't sure if I should increase the limit myself. This would be my only current revolving. I do have a lease that will be paid in a few months but they only report paid in full not payments each month.

My report shows three account's:

1 for Pinnacle  (the cell bill). It show's; Balance $665 120+ days past due

1 for the leasing company, Balance $0 pays account as agreed (bought something from them already reported) plus the current account that should show in a few months

1 for a auto loan that also shows, balance $0 pays account as agreed.

[guiness56]

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@RCOH wrote:

EQ does not show the Tax Lien as paid. I thought the legal timeline was only 7 to 10 years after reading this forum. It doesn't show at all on the Trans or Exp reports I have.  That is for a judgment.  An unpaid tax lien can be reported forever, depending on your state.  Once paid it is 7 years from date paid.  This is why it is important to send in that paperwork.  It technically should have been removed in 08.  Send in the release showing the date it was paid and ask them to remove it.

Negotiate a PFD for the Medical, got it. Should I wait until the 5 drop first? It's not that long to wait really and I could save $ to pay the rest during that time frame.  You can do that.  If all of the medical are with the same CA they may ask you to pay them, which they can do.  Unpaid debt does not go away.  If you were to apply for a mortgage you would need to disclose them.

What should I do about the reported 'late payment's' from the CA? It is on the report's! It is my bill, it's an old cell bill from 2008 when most of us like me had financial difficulties.  It actually sounds like they are reporting the delinquency at the time they acquired the debt which is legal.  They just cannot add late payments to their TL.

I read about the stay around 9% in other threads, just wasn't sure if I should increase the limit myself. This would be my only current revolving. I do have a lease that will be paid in a few months but they only report paid in full not payments each month.  I personally do not see the need to increase you limit that high.  Just use it wisely.  Use the other money to pay off some of your current existing debt.  When you are able to, then start applying for non secured cards.  The higher limits will come.

My report shows three account's:

1 for Pinnacle  (the cell bill). It show's; Balance $665 120+ days past due

1 for the leasing company, Balance $0 pays account as agreed (bought something from them already reported) plus the current account that should show in a few months

1 for a auto loan that also shows, balance $0 pays account as agreed.

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