@Anonymous wrote:I have been reading the site for a few weeks now and I think I have a good idea where to start but I also have a few things that I still have questions about. I thought I would give an overview of my situation and see what you all thought. Like a lot of peoples stories I have read I ran into quite a few problems back in 09-10. I now have a stable job and would like to start cleaning up my CR. I also live in Texas, fyi.
1 Judgement
Cavalry SPV $1600
File 01/2013
removal 12/2018
Collections
EOS CCA $400
removal 03/2021
Midland Fundung $1000
removal 05/2016
Midland Funding $1300
removal 05/2016
Portfolio Recovery $1200
removal 05/2016
Mortgage
Wells Fargo
Went through a load modification and it has been paid on time almost 4 years since the mod but it has a bunch of 30,60, 90, 120 day lates prior to the mod.
Stutues is Current, Paid or Paying as Agreed but this is listed as a negative itme. I thought I saw listed once on one of my reports that it was scheduled to turn positive in 2016, but I can not find that now so maybe I am mistaken
I have a current capital 1 quicksilver card, 4500 limit, never late. its been open a little over a year. Prior to opening that account and since all the credit issues I was using a cash budget so no other open lines other than the mortgage. I do plan on opening a couple more cards, I have read that you need 3 for optimal rebuilding.
Most of the CAs listed above are from old credit card so I have charge off accounts related to those that are also still listing late payments those should be due to drop off CR on the same date as the CAs above.
What I had in mind was to contact EOS with a PDF, this was a more recent collection that was a result of a centurylink bill that I forgot about after moving. Should I DV them first?
Use the Texas DV letter for the 2 Midland and the Portfolio recovery, All the these are outside of SOL so I figured I would start with that and if they valid offer a PDF. I have heard these companies dont like to do PDFs but I figure being outside of the SOL and pretty close to them dropping from CR it is worth a try. They also are already updating monthly so I thought there really wouldnt be much harm in DVing them. Is there any potential downside to this? Nope not if they are past SOL and updating monthly.
I had seen people say they don't want to wake the sleeping giant with these companies but being outside of the SOL and since they are already updating monthly what more are would they realistically do? Waking the sleeping giant applies to debts inside the SOL not outside as the giant cannot be aroused to get a successful judgment
I don't really know what to do about the rest of it. Should I pay the judgement in full or can I still negotiate a lower settlement? You can negotiate a judgment like any other debt and you might want to add getting it vacated after its been paid. Getting it vacated means its gone from your CRs earlier rather than later. Judgments remain on file 7 years from the date they are filed for,
s there anything that can be done about all the late mortgage payments? I have started to read a little bit about GW letters is that realistic on an account with a lot of lates? Most of the success stories I have read were getting 1 or 2 lates removed. You have answered your own question http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Stories/td-p/1573680
Thanks for any imput you guys can give me.
Edited to add more info
@Anonymous wrote:Thanks for the info.
Regarding EOS/CentruryLink, I did send them an email asking if they would pull it back from collections and let me pay it in full but their response was that they no longer own the debt and I would have to deal with EOS.
Maybe I will try calling and see if the person I get on the phone would be more willing to recall it.
If you contacted the OC and they have stated they no longer own the debt then you cannot deal with them and they cannot recall it they are no longer the legal owners and you will have to deal with the new legal owner and/or their assigns.