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Rebuilding.. Here we go!!

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LittlePegger
New Member

Rebuilding.. Here we go!!

Hello everyone,

 

Pegger here. I'm a longtime lurker of the myFICO forums but just now decided to make my own account. A little about myself... I got into trouble with cards when I thought I was going to be in the same job the rest of my life so I didn't max them out at first but I did use them regularly and only paid the minimum (I know the credit gods are cringing) and then I lost my job and my husband lost his as well and used the money and cards for bills then once that ran out moved out of our apartment (stayed because we thought we could find jobs in time and didn't..). I have a long road ahead to rebuild my credit. I have many recent charge offs (1-1 ½ years ago) and only 1 has reported as a collection so far. I have had a job since June and it's only temporary so it Is going to end on the 30th. I've used that money for rent and other bills. Currently looking for a new one within HR. 

 

Regarding those, quick question... Would it be better to send out PFDs? They are not reporting as collections only as charge offs. Or would it be better to pay and then send goodwill letters? I've lurked on the forums and many people have found success with either way but I want to know the best way or the better way. I know it is different for everyone.

 

 

Onto the more exciting news of the day..

 

 

I am going to be paying off my current open cards between today and tomorrow and I'm super excited! I'll be getting that utilization to the coveted 0-9%! Here are my current cards:

 

Walmart:                             Balance: $912.00         Limit: $900.00
The Children's Place:         Balance: $19.82.          Limit: $150.00
Capital One:                       Balance: $ 499.00.        Limit: $500.00
Macy's :                              Balance: $ 848.12.        Limit: $1000.00
Bloomingdales:                  Balance: $823.55.         Limit: $900.00
Wags Lending (Loan):       Balance: $ 650.00.        Limit: N/A Starting amount was $2000 (2 yr loan ready to pay in full as my temporary job is coming to an end)

 

Sorry this is so long I just wanted to give a decent picture of my situation. 

 

Scores across the board: 561-571. Yikes I know! Lol. But I am very excited to see if my scores will jump a few points because I am finally on the right track. A long road ahead with ups and downs but I know I will make it through. 

 

Carly

 

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righthererightnow
Frequent Contributor

Re: Rebuilding.. Here we go!!

I would start with the pay for delete, and then if that doesn't work you can move onto the goodwill. Maybe even do a hybrid letter, about your situation, but pay for delete.

 

You are doing the right thing, you are starting to rebuild. You have the timing on your side, creditors are more friendly with recent bills, they want the situation fixed.

 

 




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