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THE GOOD, THE BAD, AND THE VERY UGLY

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alienfico
Frequent Contributor

Re: THE GOOD, THE BAD, AND THE VERY UGLY - 3 new TLs

I back pedaled.  I decided to go with Open Sky after reading that they do not do any inquiries on your CR.  I chose a small balance of $300. I will most lkely just use this for buying very small items no <$15 and paying it off within a week of the purchase, the seem to have some sort of arcane accounting systems.  Here's crossing my fingers that I don't regret my decision to go with Open Sky.

 

Instead of a Merrick Bank, I would really like to go with a BofA secured card since I bank with them.  I spoke with the representative about the approval process, and those that get denied.  She told me that denials are in part due to collection activity and low scores.  So I will wait until my score is in the mid 600s and apply with them since their secured card can become unsecured based on responsible use.  I also looked on Who Gave Me Credit to see the denial rate and their scores......so I think it will be best if I wait.

 

With three cards, I think that is enough to start the rebuilding process while I work on my credit.  

 

Fingerhut $250

First Progress $500

Open Sky $300

 

 

 

Starting: TU:515, EX:521, EQ:528
Current: TU:700 EX:706 EQ:674
FICO Goal: 725
Cap1 Venture $11,000AU, First Progress $500, Cap1 QS $1750, FH$600, Open Sky $300, Cap1 $500, BestBuy $1500 Target $1800
Message 11 of 21
alienfico
Frequent Contributor

Re: THE GOOD, THE BAD, AND THE VERY UGLY - Waiting....

Nothing new to report except for the fact that I'm playing the waiting game.  

 

My green CMRR forms are coming back in - some signatures are legible and they even took the time to print their name...others are not.  Now i 

hope that they will either remove the TL or give me some validation.  

 

The debts that are beyond the SOL, I sent PFD for a fraction of what was owed.  

 

One particular CA is attempting to charge !00% interest, basically they just doubled what was owed.  Is that even legal?  

This is a debt that is beyond the SOL, so I'm not  really sure how to approach it.  Do I DV and then PFD...they obviously can't sue me...but can they ding my CR?

If it's beyond SOL then it isn't reportable????

 

So many questions????

 

 

 

 

Starting: TU:515, EX:521, EQ:528
Current: TU:700 EX:706 EQ:674
FICO Goal: 725
Cap1 Venture $11,000AU, First Progress $500, Cap1 QS $1750, FH$600, Open Sky $300, Cap1 $500, BestBuy $1500 Target $1800
Message 12 of 21
Anonymous
Not applicable

Re: THE GOOD, THE BAD, AND THE VERY UGLY

Hello FICOREDEMPTION.

 

I added you to my friends list, because I have a couple of questions for you. I'm new to the forum too so I'm not sure how every thing works. I don't know if you need to accept my request or what. Please send me an email. Thanks in advance!

Message 13 of 21
alienfico
Frequent Contributor

Re: THE GOOD, THE BAD, AND THE VERY UGLY

BBPearl - feel free to ask the general forum....for I wouldn't consider myself an expert.  There are members here who have a wealth of knowledge, it is better to get a collective consensus than just one person's opinion.Smiley Happy

Starting: TU:515, EX:521, EQ:528
Current: TU:700 EX:706 EQ:674
FICO Goal: 725
Cap1 Venture $11,000AU, First Progress $500, Cap1 QS $1750, FH$600, Open Sky $300, Cap1 $500, BestBuy $1500 Target $1800
Message 14 of 21
alienfico
Frequent Contributor

Re: THE GOOD, THE BAD, AND THE VERY UGLY - still waiting ...

Still waiting on responses from the CA on my DV letters.  Let's hope they slip up and not meet the 30 day deadline and I can ask the CRA to delete these negative tradelines. 

 

I have gotten back a good number of them.  So their 30 day clock is ticking.  Either way, 8 tradelines drop off in September (7 baddies, and 1 good one - my car loan) so I'm excited to see what my score will look like in September.  Of course a lot of these accounts are old, therefore, the Aaoa will probalby factor into my score and I'm just hoping it won't bring it down further.

 

My SO added me as an authorized user on one of his accounts that has a $6K limit.  He has impeccable credit.

 

I found out that I can join NFCU, and I'm waiting till the end of September to open a savings acct and transfer $3K, there.  I'm wondering if they will be as forgiving as I've read other members post here?  

 

 

 

 

Starting: TU:515, EX:521, EQ:528
Current: TU:700 EX:706 EQ:674
FICO Goal: 725
Cap1 Venture $11,000AU, First Progress $500, Cap1 QS $1750, FH$600, Open Sky $300, Cap1 $500, BestBuy $1500 Target $1800
Message 15 of 21
lisbonic
Valued Member

Re: THE GOOD, THE BAD, AND THE VERY UGLY - still waiting ...

I would 100% get the Bank of America Secured card.  If you dont miss any payments they will un secure the card at the nd of a year, sometimes earlier if your score has improved.  BOA is not considered a sub prime lender either, so I was told by numerous people on here to go with them and I did.  I was approved for the secured card with a score in the high 5's.

 

Also, if I were you I would most definitly start doing the shopping cart trick for retailers who use Commenity.  I was able to get soft pull approval on 4 store cards to help add to my available credit and trade lines.

 

The sites that worked for me were Victoria Secret, The Loft, Express and JCrew.  It also worked at some of the other sites, but they were not stores I would shop at.

 

Good luck.

Message 16 of 21
alienfico
Frequent Contributor

Re: THE GOOD, THE BAD, AND THE VERY UGLY - still waiting ...

Thanks for the advice Lisbonic!  I'm definitely going to app for the BoA secured card since I have a savings and checking account with them.  I called just to speak to CSR to find out about denials....I'm being a negative nelly here....but she told me they tend to deny folks who have collections on their CR.  I currently have 3 - 2 Midland, and 1 Portfolio.  I'm working hard to get those removed because they are from debtsfrom 2003 - DoFD was in 2003 too, however, they were re-aged based on my records. I'm working on those three.  I sent DV letters.

Starting: TU:515, EX:521, EQ:528
Current: TU:700 EX:706 EQ:674
FICO Goal: 725
Cap1 Venture $11,000AU, First Progress $500, Cap1 QS $1750, FH$600, Open Sky $300, Cap1 $500, BestBuy $1500 Target $1800
Message 17 of 21
alienfico
Frequent Contributor

Re: THE GOOD, THE BAD, AND THE VERY UGLY - ****Good News****

I opened an NFCU savings account over the line put in $50, I will probably open up a checking account too.  I may app for a secured card in Oct.  I'm too chicken to app right now Smiley Sad   

 

 

My TU only has 3 inquiries, I want to keep them low.

 

 

Six baddies joined the obsolete debt graveyard and will no longer bring down my score. Woman LOLWoman LOLWoman LOL

 

 

I received my First Progress CC and used it.....now I'm waiting for it to report.

 

 

I'm looking forward to September, as two other baddies fall off!  

 

 

Starting: TU:515, EX:521, EQ:528
Current: TU:700 EX:706 EQ:674
FICO Goal: 725
Cap1 Venture $11,000AU, First Progress $500, Cap1 QS $1750, FH$600, Open Sky $300, Cap1 $500, BestBuy $1500 Target $1800
Message 18 of 21
dursty87
Established Contributor

Re: THE GOOD, THE BAD, AND THE VERY UGLY

Thanks for keeping us updated. Keep in mind that a CA doesn't have to respond to your DV within 30 days if you missed the initial 30 day window(ie when you first received a dunning notice). So if those collections have been on your reports for awhile just know that you can't dispute if you don't receive a response within 30 days. However, if those are re aged I wouldn't send a DV I would file a complaint with the CFPB that would be your best bet in getting them removed

Congrats on joining NFCU and welcome to the family. They are a great credit union and if you treat them well they will return the favor.

As always, good luck!
Message 19 of 21
alienfico
Frequent Contributor

Re: THE GOOD, THE BAD, AND THE VERY UGLY


@ssondubs wrote:
Thanks for keeping us updated. Keep in mind that a CA doesn't have to respond to your DV within 30 days if you missed the initial 30 day window(ie when you first received a dunning notice). So if those collections have been on your reports for awhile just know that you can't dispute if you don't receive a response within 30 days. However, if those are re aged I wouldn't send a DV I would file a complaint with the CFPB that would be your best bet in getting them removed

Congrats on joining NFCU and welcome to the family. They are a great credit union and if you treat them well they will return the favor.

As always, good luck!

 

Thank you for the advice.  I need to do that and ask that they show proof of payments received from me, as they state in 2008, which would then make these monster collections fall off in 2015.  I guess with all the arguing back and forth, before I know it 2015 will be here and off to the graveyard they will go but meanwhile they're on my CRs they are bringing down my score.  

 

Today I just received my Cap 1 Authorized User card with a $6K Limit...hoping that my scores climb out of the 500s by next reporting time.

Starting: TU:515, EX:521, EQ:528
Current: TU:700 EX:706 EQ:674
FICO Goal: 725
Cap1 Venture $11,000AU, First Progress $500, Cap1 QS $1750, FH$600, Open Sky $300, Cap1 $500, BestBuy $1500 Target $1800
Message 20 of 21
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