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Valued Member
9110
Posts: 55
Registered: ‎09-01-2010
0

Please help me :(

[ Edited ]

I have really bad credit. My fico score is 548. I'm young (22) and made some mistakes when I was even younger.  It's very frustrating, and I really regret that I let it get this way. =( I feel so ashamed, and it's unfortunate that I can't purchase a new car, or a home, and I am paying double what I would on a house payment in rent!! It's my fault, I just need a little guidance on where to begin to improve it!! I've read that sometimes it's better to let an account just "fall off" of your credit report, instead of paying it. Please look at my accounts below, and let me know what you would advise. 

 

I also have one judgement (it's less than $500) I made a few payments but haven't made any in over a year! It was from a orthodontist, I went for a FREE consultation, I never received a bill, a phone call, or any follow-up from his office, until of course I went to court.  Should I pay it off?

Natl Coleg

 

10/2006

$8,546

Pays account as agreed

 

Details

Sallie Mae

 

9/2006

$2,610

Pays account as agreed

 

Details

Sallie Mae

 

11/2005

$1,930

Pays account as agreed

 

Details

Sallie Mae

 

9/2006

$1,557

Pays account as agreed

 

Details

Sallie Mae

 

11/2005

$1,227

Pays account as agreed

 

Details

Cap One

 

5/2006

$1,460

Bad debt/collection

 

Details

Portfolio

 

2/2008

$831

120+ days past due

 

Details

Arrow Ser

 

9/2008

$715

120+ days past due

 

Details

Hsbc Bank

 

4/2007

$0

Bad debt/collection

 

Details

Cap One

 

7/2006

$0

Bad debt/collection

 

Details

Aes/Pheaa

 

8/2006

$0

Pays account as agreed

 

Details


Any advice is greatly appreciated! Thanks in advance.

Valued Contributor
IOBA
Posts: 2,697
Registered: ‎08-13-2009
0

Re: Please help me :(

1.  Judgement from ortho  - I don't understand.  They tend to collect payment at time of visit, not later.  So how did it get to a court?  If you can show that you were not properly served, it may be vacated.  Worth trying.

 

2.  If you have bad debt, then you should make an effort to pay it off.  You can offer PFD.  Sometimes works, sometimes not.

Valued Member
9110
Posts: 55
Registered: ‎09-01-2010
0

Re: Please help me :(

The judgement from the orthodontist, I don't understand either. I went for a "free consultation" to see if I would be a good candidate for Invisalign. I was, and had planned on going back for treatment. However, with school expenses, I never had the extra $$ to do so. They never called me or contacted me to inform me I owed them anything, I was under the impression it was just as it was stated, a FREE consultation.  When I went to court, I asked the attorney who was there for them about it, stating I wasn't aware I owed the company ANYTHING, he informed me I would've needed to be in court for the first hearing. I knew nothing about it! 

 

How can I find out who to contact, if the debt has been sent to collection agencies? 

Valued Contributor
IOBA
Posts: 2,697
Registered: ‎08-13-2009
0

Re: Please help me :(

1.  Re: judgement --- were you served papers to notify you of the court date?

 

2.  Cap 1 - -7/2006 --- call Cap 1 and tell them you want to work out a payment plan.  They tend to hold on to their old accounts for a long time, sending them to various collection agencies.   If the OC is paid, they recover more of their money.  If the CA is paid, they only pay a portion back to the OC.   If the CA has bought the debt (versus it being assigned to them), they keep all $ rec'd.

 

3.  Hsbc Bank -- 04/2007 --- call Hsbc and ask to make a payment plan.  If they say no, then ask how to resolve the debt.

 

4.  Arrow Services -- 09/2008 -- this is a collection agency, right?  Is it from Cap 1 or Hsbc?  If so, contact the OC FIRST!  If the OC directs you to Arrow, then try to work with Arrow.

 

5.  Portfolio -- 02/2008 --  this is a collection agency, right?  Is it from Cap 1 or Hsbc?  If so, contact the OC FIRST!  If the OC directs you to Portfolio, then try to work with Portfolio.

 

6.  Cap 1 -- 05/2006 --- same as above for Cap 1.

Valued Member
9110
Posts: 55
Registered: ‎09-01-2010
0

Re: Please help me :(

[ Edited ]

Thank you IOBA, I'll try that today =) Thanks so much for your help and advice!

 

Also, to answer your question about the judgment, I received papers, they were left on my door. But I had never received any prior to that court date, and as he stated, there was a previous court date I needed to be present at to dispute the charges.

I'd also like to add that I don't recall EVER having a HSBC card.  I disputed it through Experian, but am still waiting for the outcome. Should I wait for that process to finish before contacting them?

Valued Contributor
IOBA
Posts: 2,697
Registered: ‎08-13-2009
0

Re: Please help me :(

If there was a prior court date, you need to find out!

 

If you were not properly served for that court date (to dispute charges) then you can probably have the judgement vacated.

Valued Member
9110
Posts: 55
Registered: ‎09-01-2010
0

Re: Please help me :(

IOBA-There WAS a prior court date.  Would leaving the papers stuck to my door be considered properly served? Because if so, it would be their word against mine whether I received them or not. I did for the second court date, I didn't know there was one prior to that until I was at court and told the attorney I didn't agree with it, because I went to the orthodontist for a FREE consultation. He told me I would've needed to be there for the first court date to dispute the charges.

 

 

 

If I were to offer Arrow Services a PFD, and then sent a GW letter to HSBC, and did the same thing with Capital One, considering they all accepted and obliged, would it increase my score? If so, approximately how much would it increase, and how long would it take?

Valued Member
9110
Posts: 55
Registered: ‎09-01-2010
0

Re: Please help me :(

If I pay the judgment, would I be able to get it vacated, or would that need to be done without paying it? 

 

I want to purchase a home in the next few years, will having a satisfied judgment effect this?


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