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I'm fairly new to the board, but have been lurking and soaking up much knowledge.
I wanted to share some information with you and ask for your feedback. The most damaging items on my credit report are collections.
Here is a cut and paste:
Name | Amount | Year Opened | Today | Years |
Cap One Auto Fin | $1,023.00 | January-02 | February-12 | 10 |
Citibank- Student Loan | $4,185.00 | October-06 | February-12 | 6 |
Citibank | $3,101.00 | March-06 | February-12 | 6 |
Citibank | $4,552.00 | August-07 | February-12 | 5 |
First Premier Bank | $476.00 | May-09 | February-12 | 3 |
First Premier Bank | $623.00 | October-08 | February-12 | 4 |
American Honda | $1,852.00 | August-03 | February-12 | 9 |
Centerpoint | $164.00 | November-05 | February-12 | 7 |
Total | $15,976.00 |
The costliest are the student loans. I've been reading threads about paying in full or partial, but on condition of deletion. Are student loans eligible for that as well?
I have seen some information on student loan rehab, but don't fully get that.
I have some other active student loans that are in forebearance that I will soon be paying $270 a month for. Can I combine the old loans and current student loans?
Any guidance is greatly appreciated.
Thank you,
Tex
original EQ 506/ I pulled 1/29 -619 (why did it go up so high? Not complaining, just wondering :-)
original Exp 506 -?
original TU 516/ I pulled 1/29 - 588 (why did it go up so high? Not complaining, just wondering :-)
Goal: 720
What are the dates of the last payment/activity for all of those accounts?
Student loans are not usually deleted. Check to see if they are still with the lender. If they are, ask to do a rehab program. After about 9 on time payments, they delete the bads. If they are in collections, ask the CA for a rehab program to delete the bads.
Hi IOBA,
Thanks for the reply.
I revised the chart taking off the open date and adding last activity:
Name | Amount | Date of Last Activity | Today | Years |
Cap One Auto Fin | $1,023.00 | August-07 | February-12 | 5 |
Citibank- Student Loan | $4,185.00 | February-09 | February-12 | 3 |
Citibank | $3,101.00 | February-09 | February-12 | 3 |
Citibank | $4,552.00 | February-09 | February-12 | 3 |
First Premier Bank | $476.00 | August-09 | February-12 | 3 |
First Premier Bank | $623.00 | August-09 | February-12 | 3 |
American Honda | $1,852.00 | June-08 | February-12 | 4 |
Centerpoint | $164.00 | September-06 | February-12 | 6 |
Total | $15,976.00 |
All of the collections above are shown on the CR as "charged off as bad debt" and are with various collections agencies.
So, it sounds like I need to go the CA and do a rehab? Will they work with me only a monthly amount?
Thanks Pizza Dude,
I'll go back and pull. So, from that date it would be about 7 years to fall off?
The student loans worry me the most as I cannot PIF one lump sum on those.
The others are workable. I would like to try for a PIF and deletion on the others since it sounds like the Student Loans aren't eligibe for the deletion.