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Hi Everyone – I have been lurking for about a month now, and I cannot believe the wealth of knowledge within this forum. You guys are amazing! I am excited to get any advice or additional info you can provide.
So, after years (about 15) of great credit history – in the mid to high 700’s. Life hit hard with a curve ball. Last year my finance was diagnosed with terminal cancer. Unfortunately, it was not soon after that he needed full time assistance, and I made the decision to leave my job to take care of him (his insurance did not cover nurse at home). I knew the consequences of this action, but I weighted the fact that somethings are more important in life then money. I did my best to keep up with my bills that I could. Unfortunately, he passed away and just now am I able (I have a new great job) to try and fix all that went wrong on my credit report now. I have learned so much about the credit “game” since starting to read posts a month ago. However, I am still a bit confused on some things. Here is my current situation. –
The Bad –
Charge Off’s – 3 total
AMX - $4,529
AMX – blue - $1,260
Citi - $1,953
So, I am a bit confused what I can do with these. I have read about PFD, but if they are charged off and the debt has been sold ( and the original creditor is still reporting it – and all balances are not reported as $0….how can I do a PFD and get it removed? I am able to start settling these one at a time, but I want a delete, and for the settlement to improve my score.
Credit Cards –
Discover – Behind on payments but called and negotiated a lower interest rate, a payment plan, they credited my account with back interest payments and fees totaling - $1,500 since I agreed to the payment plan. However, account is over balance and marked closed (but not charge off). I am determined to get this paid down over the next year. I am writing Discover and asking for a good will removal of the late notices on my account.
I currently have no other cards open – I know opening new ones and keeping it a low usage would help, but should I wait till I settle some of these issues?
Collections – 2
Hunter Warfield – Saying $3,000+ for an apartment I left due to crime and disrepair. They have been horrible to talk to, and I have no idea where to start.
Med bill - $278 – paid this month and they agreed to delete it from my report.
My current Fico score is – 557. This is so depressing…but I am ready to win this game and get back to the 700’s. Any advice would be so appreciated. Thank you so much!
Welcome to the forum! I would honestly start reading and learning as much as you can right here on these forums. Use the board search with specific topics. Don't be afraid to ask alot of questions.
@Anonymous wrote:Hi Everyone – I have been lurking for about a month now, and I cannot believe the wealth of knowledge within this forum. You guys are amazing! I am excited to get any advice or additional info you can provide.
So, after years (about 15) of great credit history – in the mid to high 700’s. Life hit hard with a curve ball. Last year my finance was diagnosed with terminal cancer. Unfortunately, it was not soon after that he needed full time assistance, and I made the decision to leave my job to take care of him (his insurance did not cover nurse at home). I knew the consequences of this action, but I weighted the fact that somethings are more important in life then money. I did my best to keep up with my bills that I could. Unfortunately, he passed away and just now am I able (I have a new great job) to try and fix all that went wrong on my credit report now. I have learned so much about the credit “game” since starting to read posts a month ago. However, I am still a bit confused on some things. Here is my current situation. –
The Bad –
Charge Off’s – 3 total
AMX - $4,529
AMX – blue - $1,260
Citi - $1,953
So, I am a bit confused what I can do with these. I have read about PFD, but if they are charged off and the debt has been sold ( and the original creditor is still reporting it – and all balances are not reported as $0….how can I do a PFD and get it removed? I am able to start settling these one at a time, but I want a delete, and for the settlement to improve my score.
Credit Cards –
Discover – Behind on payments but called and negotiated a lower interest rate, a payment plan, they credited my account with back interest payments and fees totaling - $1,500 since I agreed to the payment plan. However, account is over balance and marked closed (but not charge off). I am determined to get this paid down over the next year. I am writing Discover and asking for a good will removal of the late notices on my account.
I currently have no other cards open – I know opening new ones and keeping it a low usage would help, but should I wait till I settle some of these issues?
Collections – 2
Hunter Warfield – Saying $3,000+ for an apartment I left due to crime and disrepair. They have been horrible to talk to, and I have no idea where to start.
Med bill - $278 – paid this month and they agreed to delete it from my report.
My current Fico score is – 557. This is so depressing…but I am ready to win this game and get back to the 700’s. Any advice would be so appreciated. Thank you so much!
If the balances are not reporting $0 then they have not been sold, only assigned to CA's. Just because an account is charged off, does not mean it has been sold.
Thank you!
I was was a bit confused how the charge off goes,nbut that info helped. I will be asking a lot of questions. So glad I found this forum.