First and foremost I'm very thankful I've found these forums as they have helped me tremendously. I am always searching on here and reading up on things and trying to better understand my situation and how I can fix it.
First my successes, Since 10/2014 I've been able to buy a new car, I've also added a few credit cards to my report.
I have the following:
Cap1 Platinum: $300
Cap1 QS1 MC: $300
Kay Jewlers: $5100
Credit One: $300 original CL, now $450 ( I want to ditch them for their fees and BS )
Cabelas Visa: $1000
Total: $7150.
I only carry balances on the Cap1 cards which I pay off severa times monthly and am almost at a $0 balance on the Credit One account as I'm done using it.
I am about to hit my 3rd statement on the GS1 and the 2nd statement for the plat just hit. I tried the Luv button but was denied due to the age of the accounts. My scores have gone up about 15 points since I was approved on both back in Nov.
Now the baddies, my Auto Loan situation and some backround
So before October 2014 I couldn't get a CC or an Auto Loan. Luckily I have a friend that is a General Manager at a dealership and he helped me get an auto loan with a 545 credit score with a rate of 12.99% which I was very happy about as other friend have had similar results but with an APR of 17-24%
I've been debating about trying to refi this loan but am gonna wait until I'm in the 650 score range I think. I'm currently 610 TU and a 624 EQ
I had 4 collections on my report a week ago. One was one with ERC for a Comcast CO that I had no knowledge of. I disputed it and it was removed.
The next three are 3 cards I let go because I was young and wasn't thinking of the ramifications of doing this paired with losing my job in 2008 ( most people credit troubles inception).
That leaves a Cap1 CO with a $1,089 balance that has a DOFD 03/2013. The bad thing about this one is I originally defaulted long before that but I contacted them trying to make good on the account and they told me if I paid it down to a certain amount they'd reopen it. I did the next day and they chose to keep the card close which angered me. I was young and made the wrong decidion to let it go to collections instead of just paying it off.
It has now taught me a lesson. Cap1 has even given me a second chance with two new cards ( $300 CL each ). Portfolio Recovery owns this and it looks like I need to leave this one alone for at least another year so it can pass SOL.
The second is from an HSBC card which is showing as closed with a balance of $575 through which is $234 more than the $341 originally charged off on that card. The DOFD on that card 06/2010. Should I try to PFD on this? Also it's past SOL so should I offer less and if so how much?
The last CO is for First Premier with is with Midland. Chargeoff amount says $0 but amount past due says $487. DOFD is 11/2009. It is also past SOL so should I do a PFD on this? What should I offer? Or since 11/2009 means that on 11/2016 I will reach 7 years on this CO I should wait for it to drop off. I'm not buying a house for at least another 1.5 years.
From what I can tell these are my only baddies left on my report.
Thanks for taking the time to read my succes and background story and for any insight.
