Rebuilding Your Credit

[alhill4]

I was lurking around for a while and decided to join. I did some damage to my credit during my college years and I've been working on rebuilding. I started really working on it at the beginning of the year with my scores all being in the low 500s. My scores are now Experian 641/ TransUnion 617/ Equifax 596.  I recently got two new credit cards for a total of four. Once I got these cards my experian score went up by 43 points in one month while the others stayed the same. I can't get them to budge at all! 

This is the bad stuff that is currently on my reports:

• $50 medical collection from 4/2007
• $400 medical collection from 2010
• $80 medical collection from 2010 (Paid in full, waiting to see if they will delete as promised)
• $190 medical collection from 2010
• $212 collection ( doesnt list a company, no clue what it is so it has been disputed)
• $116 medical collection from 2010
• $39 medical collection (Trying to find out HOW to pay this company, can't locate)
• $967 credit card collection from 2005
• $500 credit card collection from 2005

I should probably note that in the past two years I've had four major surgeries that have led to the medical collections. Now that Im healthy and able, would like to fix my mistakes.

This is the good stuff on my reports:

• Orchard bank credit card opened 8/2011- $300 limit
• Capital one credit card opened 5/2012- Recent CLI from $300 to $500.
• Wells Fargo Auto Loan opened 6/2012 -  4.2% with my fiance on the loan as well
• Several student loans totaling  being reported as paid as agreed since 2008
•  Wells Fargo team member rewards card opened 10/2012. -$ 1000 limit
•  Walmart store card opened 10/2012 - $600 limit

So my main question is, what should I do now? I want to get those medical collections off. If I pay these and get them removed will it help my scores? I paid off one credit card collection and it reported as paid in full but it hurt my score. Should I just focus on paying everything else on time?

My fiance and I would like to purchase a house in the next year or so. His scores are 800+ across the board and I would like to get mine as high as possible before then.

Thanks for your help!!

[Shogun]

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This is the bad stuff that is currently on my reports:

• $50 medical collection from 4/2007
• Send a PFD
  
• $400 medical collection from 2010
• Send a PFD
  
• $80 medical collection from 2010 (Paid in full, waiting to see if they will delete as promised)
• Keep an eye on this one, hopefully it will be removed
  
• $190 medical collection from 2010
• Send a PFD
  
• $212 collection ( doesnt list a company, no clue what it is so it has been disputed)
• Where did you get your report from?  Have you gone to www.annualcreditreport.com
• $116 medical collection from 2010
• Send a PFD
  
• $39 medical collection (Trying to find out HOW to pay this company, can't locate)
• I ask again where you got your report from.
• $967 credit card collection from 2005
• $500 credit card collection from 2005
• What is the DOFD of these 2?  Is it from 2005?  If so then they are close to falling off.  

So my main question is, what should I do now? I want to get those medical collections off. If I pay these and get them removed will it help my scores? I paid off one credit card collection and it reported as paid in full but it hurt my score. Should I just focus on paying everything else on time?

Pay everything on time.  You've got some positive TLs going now, so garden those well.  Yes, removing these medical collections and the 2 CC collections will give you a big boost.  Just paying them off doesn't removed the negative status.  Try for those PFDs.

[xwill04]

Hi Alhill4,

I am a WF Team member also.

Just wanted to wish you good luck on your journey. Do as muc research as possible. There is a lot of great information here. I was able to find a method to a particular collection agency to get them, removed in 3 days. Every collection agency and creditor is different. The best way is type in the agency name and do a search. You should be able to find others post with their experiences regarding that particular agency.

DO a search for "HIPPA"

a lot of people seem to be using that method to get rid of collection accounts on their credit reports

Good luck!

[xwill04]

*medical collections*

[gemntheholigram]

Medical collections are fairly easy to get deleted. The objective is to negotiate a PFD, pay for deletion with the agency. These agencies buy the debt and make money when the debt is paid off. So in short, they want you to pay the amount and you want it deleted. Call, and write the company, the phone calls are recorded and ask them to delete the account if you agree to pay it in full.

Yes, they can delete it. Some people say that nothing can  be deleted on your credit report, but it can, and has. There are numerous templates for pay for deletion, just search here and there might also be info from an other person who has dealt with the same collector, just check on these boards. Getting collections deleted will jump your score tremendously.

[alhill4]

Ive been monitoring my scores through identity theft protection through my employer which I know isnt completely accurate. I pulled annualcreditreport.com today and Equifax doesnt list ANY medical collections, just the 2 credit cards that were charged off and 1 that I closed with it being paid as agreed. Experian and Transunion show everything including the medical collections.  At least now I know who the original companies are!  The two credit cards should fall off around June 2013.

I guess I have a lot of work ahead of me to get those medical collections gone!

Thanks for your help

[alhill4]

Thank you so much!