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Operation Credit Freedom...A Service Members Credit Journal

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T4YLOR_M4D3
Valued Member

Operation Credit Freedom...A Service Members Credit Journal

Greetings!

 

First and Foremost, I want to thank the MANY contributors to myfico that have indirectly guided me to the point I am now. This site has an abundance of information to help those in the WORST condition..And I am living proof. Although my journey is FAR from over, you guys have provided me the strength to face my fears, and attack my plagued past. This is my journal, that I am sharing to hopefully pass on some information, and of course gather as much as possible. Thank you all! If there are any active duty personnel that stumble across this thread please feel free to fire away with whatever your needs are. You are on this site for a reason, there is nothing to be ashamed of.

 

MY JOURNEY:

 

**STAY AWAY FROM CREDIT REPAIR COMPANIES** 

This is the most important lesson that I have learned so far. Like most, I was curious and intrigued by the promises and ease of hiring a "professional" company...And yeah curiosity killed the cat.  There is absolutely nothing that they will do, that you can't do for yourself. You will end up doing most of the work anyway. Trust Me, endless amounts of money will be wasted that could be used to improve UTIL or be applied to PFD. Trust me, been there done that!

 

 

START:       EX: 498 (FAKO)  EQ: 479 (MyFico)  TU: 490 (FAKO) AS OF 4/16/13

CURRENT:  EX: 640 (Lender Pull)  EQ: 645 (MyFico)  TU: 639 (Wal-Mart) AS OF 4/26/14

 

DEROG's

 

- Military Star Card:  30 Day x 1 "Current Pays as agreed" 

  * No Reply, Resending GW 4/26/14

 

- Citi CC (AU): 90 Day x 1, $1,200 Past Due.  (Oldest Account)

  * Removed as AU

 

- USAA CC: 30 Day x 4, 90 Day x 4, 120 Day x 6...Closed by grantor, current,  pays as agreed

  * Sending GW 4/26/14

 

- GECRB/PYPL SMRTCN: 30 Day x 2, 90 Day x 2, 120 Day x 6... PAID C/O

  Goodwill ACCEPTED!!! Deleted!

 

- FebLoan: 120 Day x 6... PAID

  * Denied SCRA, required further information..attempting to regain contact via ombudsman to continue effort.

 

- AES/BONY: 60 Day x 3 90 Day x 12....Xfered / Sold

  *SCRA Letter Sent May 22nd, No Response. Resend Monday 4/26/2014 CMRR.

 

- DFS/WEBBK: 90 Day x13...Settled Less Than Full, C/O
  ACCEPTED SCRA..Refunded all interest, Rehab Account to show "Current, Pays as agreed"

 

- HSBC/Orchard (Capitol One):  90 day x 4..... C/O

Deleted via GW!

 

- Capital One:  90 day x 4..... C/O

ACCEPTED SCRA, Deleted!

 

 

- Calvary Portfolio: Collection Agency...Paid

 Accepted GW, Deleted.

 

 

I will keep you guys updated. Until then, Fair winds and following seas.

 

 

 

SERVICEMEMBER CIVIL RELIEF ACT (SCRA):

 

The Servicemembers Civil Relief Act(SCRA), formerly known as the Soldiers’ and Sailors’ Civil Relief Act (SSCRA), is a federal law that provides protections formilitary members as they enter active duty. It covers issues such as rental agreements, security deposits, prepaid rent, eviction, installment contracts, credit card interest rates, mortgage interest rates, mortgage foreclosure, civil judicial proceedings, automobile leases, life insurance, health insurance and income tax payments.

 

If you are uncertain if your situation qualifies, read this. SCRA GUIDE

 

 

IF YOU FEEL LIKE THIS APPLIES TO YOUR SITUATION

 

PRIOR TO DEPLOYING / ENTERING ACTIVE DUTY

 

1) Get a copy of your CURRENT ACTIVE DUTY orders.

 

2) Get a letter of advance notice/pending deployment confirmation from your commands' admin office... Letters typed on official Command Letter Head, and signed by the Commanding Officer or By Direction have been more effective in my experience.

 

3) Type a letter to the OC in question discussing the situation, and that you want to invoke your SCRA privileges. Be courteous and detailed. Include Acct. number, UNIT ID, Date Deployed, Estimated Date of Returned...ETC ...MAINTAIN PROPER OPSEC PROTOCOL).

 

4) Call the creditor to aquire the exact address on where to send the information. Most larger companies have a department that handles this directly.

 

5) Send All information CMRR ATLEAST 4-6 Weeks before deploying. Follow up via phone that all information has been received and reflected on your account. It will save you a lot of headache on an already stressful deployment.

 

 

IF YOU HAVE ALREADY EXECUTED YOUR DEPLOYMENT ORDERS (Within 180 Days)

 

1) Get a copy of your CURRENT ACTIVE DUTY orders.

 

2) Print a copy of your credit report from all three CRA's. You may obtain a free annual credit report from https://www.annualcreditreport.com/.

     Verify the status of the account in question. Look for any DEROGS within the time period in question.

 

3) Get A copy of executed deployment orders or A Letter of deployment confirmation from your commands' admin office...Again, letters typed on official Command Letter Head, and signed by the Commanding Officer or By Direction have been more effective in my experience.

 

4) Call the OC CSR and explain what happened, and if there is a department better to suit the situation.

 

4) Type a letter to the OC in question discussing the situation and to investigate the possibility that SCRA applies to you. Be courteous, and detailed ( Date Left, Date Returned, Place...ETC ...MAINTAIN PROPER OPSEC PROTOCOL).

 

If your efforts are retroactive, you are essentially in a GW situation.  Even though you may feel robbed or upset, remember it is the service members' responsibility to notify the OC PRIOR to deploying. Failing to do, so falls on the behalf of the service member. So just think of it as a GW to be more considerate.

 

 

Message 1 of 21
20 REPLIES 20
guiness56
Epic Contributor

Re: Operation Credit Freedom...A Service Members Credit Journal

Welcome to the forums, love your message title by the way.

 

Thank you for your service.

 

I am very familiar with losing your military clearance, though temporary, for credit related issues.  That is what brought me to this site over 5 years ago and I am still here, paying it forward.  Better to nip it in the bud now.

 

You have made very good progress in your task.  Congrats.

 

I was not aware that the SCRA was negotiable.

 

 

'

 

Message 2 of 21
T4YLOR_M4D3
Valued Member

Re: Operation Credit Freedom..A Service Members Credit Journal

Hey guiness56! Wow I feel like I am talking to a celebrity or something. Smiley Happy I am honored, lol.

 

The SCRA is not negotiable at all, However since most of my efforts have all been retroactive, It's hard providing the companies with information that they can decipher, and that applies to each situation. It's tedious at best. But possible.

Message 3 of 21
guiness56
Epic Contributor

Re: Operation Credit Freedom..A Service Members Credit Journal

Well, certainly not a celebrity lol.  Just spend a lot of time on the forums.

 

You have done an incredible job getting things taken care of. 

 

Most are not even aware of the SCRA which is sad.  A lot are under the impression it is automatic, which it is not.  You do have 180 days post deployed to invoke your rights.

 

But as you stated, each situation is different.

 

AAFEs has been good to me as far as removing late payments. 

 

Keep up the good work and let us know how you are doing.

Message 4 of 21
T4YLOR_M4D3
Valued Member

Re: Operation Credit Freedom...A Service Members Credit Journal

Which route did you take with AAFES? Snail mail or phone?

I am hoping that I at least help 1 person. That in itself will make this post worth while.
Message 5 of 21
guiness56
Epic Contributor

Re: Operation Credit Freedom...A Service Members Credit Journal

I called them and talked to the CSR that answered.  She was helpful.  There are those that are not so helpful either.

 

Your post will be helpful to others.  There are many that read the forums but never become members or post.  So you may not know you have helped but you have.

Message 6 of 21
T4YLOR_M4D3
Valued Member

Re: Operation Credit Freedom...A Service Members Credit Journal

Ha Ha, Like me I guess. Well thanks for your input and guidance, I'll be sure to update frequently. I think I will edit my original post to include what procedures to follow, and documentation to have on hand for using the SCRA. I had to find out the hard way, so it should be helpful.

Message 7 of 21
guiness56
Epic Contributor

Re: Operation Credit Freedom...A Service Members Credit Journal

Message 8 of 21
T4YLOR_M4D3
Valued Member

Re: Operation Credit Freedom...A Service Members Credit Journal

I've put a few lessons learned up there.

Message 9 of 21
Cageym
Established Contributor

Re: Operation Credit Freedom...A Service Members Credit Journal

Thank you for serving! I spent some time in the Navy and retired from the Air Force with 22 years total service, all of it with a security clearance, so I know exactly how you feel. I've been working overseas for most of the 10 years since I retired and it makes it a little more challenging to keep up with your credit but thank god for the internet. If you haven't done it already I would encourage you to join Navy Federal and see if you can get any of their products, in case you haven't noticed it around here they are very generous and it can help in the repair process. You have done a great job so far, keep it up.

 

And as one of the  "old salts" make yourself available to the youngins' that still don't understand.


What's in my wallet: Cap1 Venture NFCU Sig Visa Delta Gold Amex BCE Citi Simplicity IHG World MC Amazon Visa CSP
Starting Score: 5/2010 550-ish
Current Score: 6/20/2013 TU 800 6/20/2013 EQ 770 6/20/2013 EX 775
Goal Score: 800 accross the board
Message 10 of 21
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