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Hi there, so I really screwed up my credit. I opened some credit accounts when I was 18 and everything was great no lates until I turned 20 and my mom went to jail and I had to drop out of school and take guardianship of my sisters. We could barely get by let alone pay my old credit card bills. Well, my sisters are with my stepdad now and my life is getting back on track. I'm back in school and I graduate this year with a degree in accounting.It's been such a struggle, but I feel like I finally see a light at the end of the tunnel.
My credit is still really messed up though. I don't have a ton of disposable income that I can pay on old debts (still in school working part time as a server) but I can definitely pay some money on old debts.
SKIP TO END IF ACTUAL ACCOUNT INFORMATION IS UNIMPORTANT
Here is the negative info on my report:
Hey Alex,
First off Welcome! Second sorry to hear about your Mom...I hope everything works out and she gets out soon. Regarding your situation it's completely understandable.
I will do my best to provide advice and help where I have knowledge and first hand experience.
First thing DO NOT reqest DV until SOL has passed. The reason I say is because doing so you are letting them know that you are alive and where you live. What will happen is after they respond to your DV with credit card statements, they either expect you to try to settle or will file suit in your county if you don't make any effort to settle. It's best to keep your debt collectors asleep about your debt until the SOL passes
Right now I am helping my brother with credit card debt, one civil suit currently pending that my brother is fighting with my help and there is 99% chance he will win because they haven't provided any proof that he owes the debt collector aka JDB any money.
Regarding the Capital One debt, it's a debt collector or JDB playing hard ball with you. If you have proof that they threaten to sue you and they don't follow through then you can sue them for breaking the law. There is info about it here but I can't remember the link at the moment.
If you want more personal advice and help with any civil suit pending on credit card debt PM me and I will help with what I can. My brother says I should become a lawyer but I like numbers more than arguing
One important thing to remember is DO NOT try to settle with anything that has been charged off by the credit card company and now owned by a CA or JDB, let the SOL pass then do the DV, then have it removed off your credit report. If you make any payment to those credit card debts the SOL will restart and you don't want that at all.
Save the money you earn for a nice vacation one day
@Anonymous wrote:Hi there, so I really screwed up my credit. I opened some credit accounts when I was 18 and everything was great no lates until I turned 20 and my mom went to jail and I had to drop out of school and take guardianship of my sisters. We could barely get by let alone pay my old credit card bills. Well, my sisters are with my stepdad now and my life is getting back on track. I'm back in school and I graduate this year with a degree in accounting.It's been such a struggle, but I feel like I finally see a light at the end of the tunnel.
My credit is still really messed up though. I don't have a ton of disposable income that I can pay on old debts (still in school working part time as a server) but I can definitely pay some money on old debts.
SKIP TO END IF ACTUAL ACCOUNT INFORMATION IS UNIMPORTANT
Here is the negative info on my report:
BANK OF AMERICAP O BOX 15026
WILMINGTON, DE 19850(800) 421-2110Balance:$0Date Updated:07/13/2010High Balance:$1,539Credit Limit:$1,000Last Payment:01/16/2008Pay Status:>Charged Off<Estimated month and year that this item will be removed:02/2015CAPITAL ONE BANK USA NAPO BOX 30281
SALT LAKE CITY, UT 84130(800) 258-9319Balance:$1,575Date Updated:10/02/2011High Balance:$933Credit Limit:$500Past Due:>$1,575<Last Payment:03/27/2008Pay Status:>Charged Off<Estimated month and year that this item will be removed:04/2015DELL FINANCIAL SERVICES1 DELL WAY PS2DF-22
ROUND ROCK, TX 78682(800) 283-2210Balance:$1,284Date Updated:09/30/2011High Balance:$1,948Credit Limit:$1,500Past Due:>$1,284<11/29/2006Estimated month and year that this item will be removed:12/2014GECRB/GAPPO BOX 965005
ORLANDO, FL 32896-5005(800) 887-1198Balance:$0Date Updated:12/08/2008High Balance:$188Credit Limit:$300Estimated month and year that this item will be removed:04/2015LVNV FUNDING LLCPO BOX 10497
GREENVILLE, SC 29603(866) 464-1183Balance:$672Date Updated:09/12/2011High Balance:$431Original Creditor:GE CAPITAL THE GAP (Financial)Estimated month and year that this item will be removed:10/2014METRO WATER DISTRICTP.O. BOX 36870
6265 N LA CANADA DR
TUCSON, AZ 85740(520) 575-8100Balance:$81>Maximum Delinquency of 120 days occurred in 10/2009<Estimated month and year that this item will be removed:10/2015PIMA FEDERAL CREDIT UNIOPO BOX 50267
TUCSON, AZ 85703-1267(800) 746-2328Balance:$1,873Date Updated:07/20/2009High Balance:$5,300Loan Type:AUTOMOBILERemarks:>UNPAID BALANCE CHARGED OFF<Estimated month and year that this item will be removed:01/2016VERIZON WIRELESSPO BOX 26055
MINNEAPOLIS, MN 55426(800) 852-1922Balance:$94Date Updated:01/03/2009High Balance:$94Past Due:>$94<Estimated month and year that this item will be removed:09/2013WFNNB/VICTORIA'S SECRET
PO BOX 182789
COLUMBUS, OH 43218-2789(800) 695-9478Balance:$780Date Updated:05/28/2010Estimated month and year that this item will be removed:06/2015CREDIT COLLECTION SERVICPO BOX 9134
NEEDHAM, MA 02494-9134(877) 289-0281Balance:$495Date Updated:12/30/2008Original Amount:$495Original Creditor:PROGRESSIVE HOME INSURANCE COM (Insurance)Past Due:>$495<Estimated month and year that this item will be removed:07/2015MIDLAND CREDIT MGMT INC8875 AERO DR STE 200
SAN DIEGO, CA 92123(800) 825-8131Balance:$1,880Date Updated:10/16/2011Original Amount:$1,539Original Creditor:BANK OF AMERICAPast Due:>$1,880<Estimated month and year that this item will be removed:02/2015I'm in Arizona where the SOL is 3 years on credit accounts so for most of these accounts, that's right around the corner. The CA for the Capital One card (which had an original balance of 500, not sure how it got to 1600??) called the other day and said they were going to file a lawsuit against me. I definitely do not have 1600 to give them, but right now I can probably budget to pay 300/month to pay down my old debt.Anyway, should I wait to send DV's until after the SOL passes? Should I try sending PFD's to these companies now with a small amount that I can pay them? I haven't read too much about GW letters, but I don't think they really apply to me because none of these accounts are still open. Anyway, thank you in advanve for any help, I know this will be a slow long process and I don't mind. I have no want or need for credit right now and I don't plan on buying a house for years, but I want to do the right thing to get myself back on track, I'm a very responsible person and I'm ashamed of what I let happen, I just want to fix this to the best of my ability. Thanks so much for your time!!
@Anonymous wrote:Hi there, so I really screwed up my credit. I opened some credit accounts when I was 18 and everything was great no lates until I turned 20 and my mom went to jail and I had to drop out of school and take guardianship of my sisters. We could barely get by let alone pay my old credit card bills. Well, my sisters are with my stepdad now and my life is getting back on track. I'm back in school and I graduate this year with a degree in accounting.It's been such a struggle, but I feel like I finally see a light at the end of the tunnel.
My credit is still really messed up though. I don't have a ton of disposable income that I can pay on old debts (still in school working part time as a server) but I can definitely pay some money on old debts.
Welcome! Your story hits close to home for me, I made horrible decisions at a young age and then family circumstances happened and it all went even more downhill from there (also mix in that I had 3 children in the time too). Congrats to you for going to college- that's AWESOME!!!!!!!!! I know it's not easy to do. My advice is in purple bold underneath each tradeline information. Again, this is just if it were me, skimming through and what I would mark down in my book to do for each of the lines.
SKIP TO END IF ACTUAL ACCOUNT INFORMATION IS UNIMPORTANT
Here is the negative info on my report:
BANK OF AMERICAP O BOX 15026
WILMINGTON, DE 19850(800) 421-2110Balance:$0Date Updated:07/13/2010High Balance:$1,539Credit Limit:$1,000Last Payment:01/16/2008Pay Status:>Charged Off<Estimated month and year that this item will be removed:02/2015CAPITAL ONE BANK USA NAPO BOX 30281
SALT LAKE CITY, UT 84130
- GoodWill
(800) 258-9319Balance:$1,575Date Updated:10/02/2011High Balance:$933Credit Limit:$500Past Due:>$1,575<Last Payment:03/27/2008Pay Status:>Charged Off<Estimated month and year that this item will be removed:04/2015DELL FINANCIAL SERVICES1 DELL WAY PS2DF-22
ROUND ROCK, TX 78682
- GoodWill
(800) 283-2210Balance:$1,284Date Updated:09/30/2011High Balance:$1,948Credit Limit:$1,500Past Due:>$1,284<11/29/2006Estimated month and year that this item will be removed:12/2014GECRB/GAPPO BOX 965005
ORLANDO, FL 32896-5005
- PFD. I realize you said you don't have much income to work with- and I didn't either when I did mine- so I took a different approach. Instead of offering to pay in full, I let them know in the letter that I was only able to pay (say 50% of the total due) and that I could somehow come up with that money only if they were able to delete the tradeline and consider it payment and a satified account. I had 100% luck with that- and some of them even just deleted the accounts and said they couldn't verify them- even though I wasn't asking for verification LOL. Also my advice is assuming all of these debts are yours- so it's your discretion if you DV the PFD's first.
(800) 887-1198Balance:$0Date Updated:12/08/2008High Balance:$188Credit Limit:$300Estimated month and year that this item will be removed:04/2015LVNV FUNDING LLCPO BOX 10497
GREENVILLE, SC 29603
- Is this account closed? GW this one...
(866) 464-1183Balance:$672Date Updated:09/12/2011High Balance:$431Original Creditor:GE CAPITAL THE GAP (Financial)Estimated month and year that this item will be removed:10/2014METRO WATER DISTRICTP.O. BOX 36870
6265 N LA CANADA DR
TUCSON, AZ 85740
- It can be hard to read other people's reports when you don't know specifics. LOL I'm assuming this card is in collections now? PFD.
(520) 575-8100Balance:$81>Maximum Delinquency of 120 days occurred in 10/2009<Estimated month and year that this item will be removed:10/2015PIMA FEDERAL CREDIT UNIOPO BOX 50267
TUCSON, AZ 85703-1267(800) 746-2328Balance:$1,873Date Updated:07/20/2009High Balance:$5,300Loan Type:AUTOMOBILERemarks:>UNPAID BALANCE CHARGED OFF<Estimated month and year that this item will be removed:01/2016
- PFD - or pay balance off and GW on the lates.
VERIZON WIRELESSPO BOX 26055
MINNEAPOLIS, MN 55426(800) 852-1922Balance:$94Date Updated:01/03/2009High Balance:$94Past Due:>$94<Estimated month and year that this item will be removed:09/2013
- PFD
WFNNB/VICTORIA'S SECRET
PO BOX 182789
COLUMBUS, OH 43218-2789(800) 695-9478Balance:$780Date Updated:05/28/2010Estimated month and year that this item will be removed:06/2015
- Some of the lines breaks are confusing me- so sorry if I'm wrong on any of these. PFD this one too.
CREDIT COLLECTION SERVICPO BOX 9134
NEEDHAM, MA 02494-9134(877) 289-0281Balance:$495Date Updated:12/30/2008Original Amount:$495Original Creditor:PROGRESSIVE HOME INSURANCE COM (Insurance)Past Due:>$495<Estimated month and year that this item will be removed:07/2015
- PFD
MIDLAND CREDIT MGMT INC8875 AERO DR STE 200
SAN DIEGO, CA 92123(800) 825-8131Balance:$1,880Date Updated:10/16/2011Original Amount:$1,539Original Creditor:BANK OF AMERICAPast Due:>$1,880<Estimated month and year that this item will be removed:02/2015
- PFD
I'm in Arizona where the SOL is 3 years on credit accounts so for most of these accounts, that's right around the corner. The CA for the Capital One card (which had an original balance of 500, not sure how it got to 1600??) called the other day and said they were going to file a lawsuit against me. I definitely do not have 1600 to give them, but right now I can probably budget to pay 300/month to pay down my old debt.Anyway, should I wait to send DV's until after the SOL passes? Should I try sending PFD's to these companies now with a small amount that I can pay them? I haven't read too much about GW letters, but I don't think they really apply to me because none of these accounts are still open. Anyway, thank you in advanve for any help, I know this will be a slow long process and I don't mind. I have no want or need for credit right now and I don't plan on buying a house for years, but I want to do the right thing to get myself back on track, I'm a very responsible person and I'm ashamed of what I let happen, I just want to fix this to the best of my ability. Thanks so much for your time!!SOL is only the timeframe in which they can legally sue you. So it's good it's only 3 years- but I've gotten a judgement ONE MONTH prior to the SOL on an account and in Michigan- SOL is 6 years! LOL. As far as Capital One- try a PFD- even for the 500 or 1/2 the 500. Explain you are a college student with little income and it's all you can do. LOL Then they see that you don't have a good job making a lot to garnish wages from etc.. Even if they decline- you can still set up payment arrangements with them- JUST MAKE SURE YOU NEVER EVER EVER ARE LATE- do EVERYTHING YOU CAN - to keep them from getting a judgement against you. Even if you can only pay 20 bucks a month to them. Since you aren't in any hurry to get credit- you are just being proactive- why not take the long route and DV them all first. While most people here say that you shoudln't DV on accounts you know you had- I disagree. If I CA now owns the account- I DV them, because they need to prove to me that I owe them the money- that they did everything correctly on their end first. And that's my reasoning behind it. I like to use this example- I borrowed $500 from my friend Calvin. I only paid him back $50 and then wasn't able to pay him anymore, and put it to the back of my mind. 6 months later, Susie walks up to me and tells me that I now owe her $700, for the $500 I borrowed from Calvin. Now, am I just going to shell out $700 to susie- or am I going to question Susie and make her prove that calvin knows she is collecting this and that she has the right to it?I also had accounts come off just for sending a PFD without doing a DV. What a blessing that was!This is my mini crash course:* GW - anything that has lates (like loans) and closed accounts that you paid* DV - Anything you don't remember, or anything you aren't sure you owe to the CA or OC - for verifying alleged accounts* PFD- Anything that is closed, but you still owe a balance on. I usually offer less than the full amount- this allows me to do 2 at a time, instead of 1.