@Anonymous wrote:Hi everyone,
So after months of lurking, and alittle over a week of purchasing the myFICO monitoring and joining tthe forums, I'm going to take a huge leap of faith here and see if anyone can help me come up with a game plan for raising my credit scores.
I'm getting real discouraged because I'm not qualifying CLIs despite making prompt and good payments on my cards (CreditOne, Comenity VS + Express, Amazon/Synchronity), as well as several student loan accounts. I am in need of a new car soon and have been building up a substantial down payment, but I'm getting worried that despite my FICO score looking "okay" I'm going to get rejected or have crazy high rates. It doesn't feel like making timely payments is good enough, and I'd love to see some of the double-digit score increases so many of you are achieving. I want so bad to have a clean sheet on my credit report, because I've really spent the last 9 months making a conscious effort to be financially responsible. I'm fed up with not being able to get prime rates, or worrying over loan/credit card approvals.
So, dear forum-mates, now that I've bared my soul to you, what's the best action (and order of action) for getting these collections cleaned up?
1. I have a 30 and 60 day late payment on one student loan (via ECSI) from September and October. I know these are hurting me big time. Long story short, I moved this summer and I was only receiving one statement for them for a different loan, that I was making payments on - as a result the secondary account went late until I finally called them and tried to figure out why they were saying I wasn't paying when I was under the impression I was good. Since then, I've set up e-bill and automatic payments. I also disputed the lates, since I never received notice on these until after they'd already been reported (still waiting on the results). In speaking with ECSI, they said I would need to rehab the loan with my school - but the account is still open. Is this a thing? Should I ask for a GW from my alma mater?
2. Collection with Conserve from Jan 2014 for unpaid account (approx $800). Have not yet disputed or requested PFD. Which is the first step on this? Can I address the other baddies first? I've been sitting on this because a pay in full cuts into that money I've put aside for a new vehicle.
3. Collection with EOS-CCA for a parking ticket, Feb 2014. $150. Recently disputed since I do not believe the total matched the original debt and waiting on the results. If it's validated, do I PFD?
4. Collection with Credit Collection Service - old progressive bill that went unpaid out of whatever spite I was feeling when I switched car insurance. $100. DV sent, assuming PFD will be best option?
5. 2 closed collection accounts from 2012 - $100/$150 respectively. Debt has been validated. Since they are closed, are they still severely impacting me?
6. One $50 Unique Nat'l for a library book in 2009. (Really, butanz... I could strangle old me). Set to fall off next summer. Is it even worth addressing? I had one of these on my report a long time ago, for 20 something dollars. Wasn't even sure what it was, as we rarely went to the library and returned on time. Anyhow, it was small enough I didn't care. I paid, and they deleted. So you might just send them a PFD letter to get it off your CR.
Sorry it's a long one. TL;DR I'm an idiot. You can even tell me I'm an idiot... I'd love it if you guys can help me figure out the proper order to get this cleaned up.
@Anonymous wrote:Hi everyone,
So after months of lurking, and alittle over a week of purchasing the myFICO monitoring and joining tthe forums, I'm going to take a huge leap of faith here and see if anyone can help me come up with a game plan for raising my credit scores.
I'm getting real discouraged because I'm not qualifying CLIs despite making prompt and good payments on my cards (CreditOne, Comenity VS + Express, Amazon/Synchronity), as well as several student loan accounts. I am in need of a new car soon and have been building up a substantial down payment, but I'm getting worried that despite my FICO score looking "okay" I'm going to get rejected or have crazy high rates. It doesn't feel like making timely payments is good enough, and I'd love to see some of the double-digit score increases so many of you are achieving. I want so bad to have a clean sheet on my credit report, because I've really spent the last 9 months making a conscious effort to be financially responsible. I'm fed up with not being able to get prime rates, or worrying over loan/credit card approvals.
So, dear forum-mates, now that I've bared my soul to you, what's the best action (and order of action) for getting these collections cleaned up?
1. I have a 30 and 60 day late payment on one student loan (via ECSI) from September and October. I know these are hurting me big time. Long story short, I moved this summer and I was only receiving one statement for them for a different loan, that I was making payments on - as a result the secondary account went late until I finally called them and tried to figure out why they were saying I wasn't paying when I was under the impression I was good. Since then, I've set up e-bill and automatic payments. I also disputed the lates, since I never received notice on these until after they'd already been reported (still waiting on the results). In speaking with ECSI, they said I would need to rehab the loan with my school - but the account is still open. Is this a thing? Should I ask for a GW from my alma mater? A bit confused, have you made the payments that would then bring you current? You only rehab a loan after default. Is this a federal student loan, a private one, or one that your financial institution gave you outside the main SL systems? If it is the first or the second, your alma mater has nothing to do with it. I beleive the CSR you spoke to may not know what he is talking about. Only the lender can GW away lates.
2. Collection with Conserve from Jan 2014 for unpaid account (approx $800). Have not yet disputed or requested PFD. Which is the first step on this? Can I address the other baddies first? I've been sitting on this because a pay in full cuts into that money I've put aside for a new vehicle.
This is so recent only a PIF PFD will get rid of this one. Look, if you DON'T pay this and it is on your CR, the increase in interest rate in a car loan will cost you more than the lack of the $800 in a down payment. Don't be penny wise and pound foolish.
3. Collection with EOS-CCA for a parking ticket, Feb 2014. $150. Recently disputed since I do not believe the total matched the original debt and waiting on the results. If it's validated, do I PFD?
I have never dealt with these folks, but have see plenty of posts dealing with them. Suggest you do a search and see what worked for others (if anything).
4. Collection with Credit Collection Service - old progressive bill that went unpaid out of whatever spite I was feeling when I switched car insurance. $100. DV sent, assuming PFD will be best option?
@Anonymous has been years since I dealt with these idiots (both of them). In my time, they refused PFD so I refused to pay. Eventually it aged off. I don't know that they have changed their behavior since. You may try emailing Executive Office @ Progressive for a GW.
5. 2 closed collection accounts from 2012 - $100/$150 respectively. Debt has been validated. Since they are closed, are they still severely impacting me? ALL CA accts are supposed to be "closed". A balance indicates that it hasn't been paid....as well as the absence of a "paid collection" in the status field indicates the debt is still owed. Current FICO scoring models rate paid and unpaid accounts the same. It hurts much less after 2 years, to the pain on these is almost over....if you pay these without a PFD, they will "renew" in current scoring models and tank your score! It is never a good thing to pay small collections after 2 years. When FICO rolls out FICO 10, this will change....but then you have to wait until creditors start using the new model.
6. One $50 Unique Nat'l for a library book in 2009. (Really, butanz... I could strangle old me). Set to fall off next summer. Is it even worth addressing? This is so old, I would first dispute it with the CRAs, it may just delete on it's own.
Sorry it's a long one. TL;DR I'm an idiot. You can even tell me I'm an idiot... I'd love it if you guys can help me figure out the proper order to get this cleaned up.
Starting Score: 472
I know its been a few days here, but I wanted to thank you all very much for your advice - especially Momof5.
For the late payments issue, I wrote a GW letter via email to the director of financial services at my alma mater, since they are listed as the account owner. For good measure, I also requested a PFD with them to pull the collection on the 800$ debt as they were the initial creditor. After really hunting through the forums it seems like a lot of posters have good luck in dealing with their schools directly for collections, so fingers crossed we make progress here! If not a PFD to the CA will come next.
I've called EOS-CCA and they refused to PFD, only offered to update as paid in full. I said no thanks, I already requested the DV as the information being reported appears incorrect and I have not received any confirmation or validation of this debt, and I made sure to repeat that. Disappointing. I guess we will wait on the results of the dispute I already have out there. I swear to god if they re-age it based on the call I will raise hell 
The ones dated 2012 I'm leaving alone for now, and debating how to approach CCS since it seems like they're a stubborn bunch - I've got a dispute out for this that should wrap up by next week anyways.
I've read just about every post on Unique National, and called them today - apparently they do not collect money for my library so I'd need to reach out to them directly. With the bad luck on EOS, and this one being so old, I'm still a little nervous to dispute or even talk to the library because I'd hate for this to re-age when I should fall off next summer. This will probably be the last thing I touch.