Rebuilding and Resentful

[Anonymous]

Greetings All!

What a wonderful community and support system for all of us navigating through the credit schemes and process.

I thought I would reach out for advice and a bit of encouragement.

Sadly, at the age of 18 I made some poor credit choices. I wasn't properly educated in what TO DO and what NOT TO DO when it came to my credit history. Over time I've gained a bit of medical bills that, at the time, I wasn't able to pay off and a few other careless choices. Eventually, some went to collections (I even got a nice fat judgement on my credit history) and others I'm still paying off. As I reach the age of 32, I'm still slowly chipping away at my flawed credit. I FINALLY got approved for a Capital One Card with a 300.00 credit limit (a tiny limit, but boy am I thankful!) and I'm continuously trying to make more choices to build up my score.

As my peers and partner are soaring with all kinds of credit cards, loans, benefit's, etc., I find myself still stuck in my baby steps and almost resentful. I'm JUST now realizing that just because it says "Pre-Approved" does NOT mean that I am and that continuously applying for credit cards DOES NOT help me ANY! As I sit in pure jealousy and embarrassment, does anyone have any tips? I feel like I'm gonna be stuck in this rut FOREVER!

According to myFico, my TU score is 586, EQ is 577, and EX is 579 (also, how do I find my total score? Is that even a thing?). I just feel like the judgement on my account REALLY holds me back and its almost hopeless for me.

Thanks for your time and suggestions in advance!

[Anonymous514]

If you have 300$ or more get a BoA secured card it will Graduate after a year plus you can call when you receive ur card and have it turned into a BoA Cash Rewards secured credit card!!!!!!!!!!!!!!!!!!

[Anonymous]

OO and by the way I still have a tax lein on two of my reports.. Judgement .. there is hope

Asset1

[Anonymous]

I can relate when you say you weren't properly educated on credit cards. My family wasn't that type...it was more of a get credit and use it type of thing...totally dismissing any payment.  I just recently started working on my credit repair and it takes time but you will get there. This forum is amazing and with all the great advice you'll be so happy in the end that you ran across this site.

Anyway, most will tell you to start with 3 cards (secure ones that graduate won't hurt) and get rid of your baddies (collections, judgment, lates) which can be done through phone calls (theres a thread titled back door numbers), goodwill letters or PFD's. I personally have been doing the goodwill letters and I have a Capital One card, a few store cards and a Visa signature rewards card (you can get one through your local credit union). Pay off whatever debt you can or make arrangements to pay them off. If the baddies are due to drop off soon I wouldn't worry too much about them.

You say your friends and partner have credit, would any of them be willing to add you as an authorized user? That can help as well. The judgment is major so I would take care of that ASAP. Stay strong. You can only go up from here.

[Anonymous]

You know what you did wrong and are correcting it.  Excellent move.    Don't be jealous of your friends.  Stick to your goals and when you achieve those, make some new ones, etc.  Before you know it, you'll be talking to yourself and saying, "wow, I'm finally doing great".  If you stay

focused, it will happen.  I started with a few crappy cards, craving my dream house, etc.  Never thinking it was at all possible.  In my house 3 yrs, also got a nice ride and some fantastic new cc's.  Still pinching myself!  Keep a positive attitude.  Don't let any doubt in.  Keep your eyes on the prize.  Ande before long, you'll be telling us your story.  

[RobertEG]

The most usual culprit in low scores in poor payment history, as that is the most highly-weighted scoring category.

I would place emphasis on cleaning up your credit report as to any derogs.

There are vaious steps and methods to address removal of derogs from your credit report.

If you would post the currently reported derogs, you will most likely get some good advice as to how best to tackle their removal.

[Anonymous]

Thank you to everyone who replied! You guys are AWESOME!

On my report I have a good number of medical bills (10), A paid judgement, and a tax lien that will should be paid off by the end of this month. I also found an old bill that I was unsure of and disputed.

It seems as if my ONLY revolving credit is my Capital One credit card... So I guess that means my credit score hinges on that.

Someone also  told me to dispute EVERYTHING on my credit report. I'm unsure how okay I am with that, their are some medical bills that I believe are much older than they're reporting as. Any advice for that?

[Anonymous]

I personally wouldn't dispute something that you know is accurate. What do you mean by older than its reporting?

[lindel]

"Compete with others and you will become bitter". "Compete with yourself and you will become better". I forgot where I first read this quote, but I now live by it. We can't compare ourselves to others, nor, should we be jealously of others. Just continue to the best you can and it will get better for u.

[Anonymous]

Congratulations on rebuilding!! You'll just keep chipping away and it will get better. Also, realize that many people have credit issues. Friends and family may act like they are swimming in credit... they may be swimming in debt. You're taking the steps to rebuild and make it better, that's all that matters! 

As for the medical bills you mentioned, you may want to google Hippa Privacy Rules and Credit Repair. I've had some luck that way as have others.