I have been reading these forums for the last 3 nights, and it has spurred me on to get going and fix my credit!
Its come to that point in my life where I have decided to dive into my credit files and see whats up.
Long story short, my wife passed away in 2002, and to be honest, I didn't care if bills got paid or not.
Over the last year or so, I've tried paying bills on time, and even got a new AMEX in exchange for paying off a charged off AMEX account. The economy hasn't helped me, and I have had some issues paying 3 of my loans..the bank has worked with me, and I think I have everything on track.
The good:
I have a loan thru American Honda for the last 16 months that is perfect..never a day late.
Same with my AMEX..perfect going on 2 years.
I have 3 bank loans that have been on time for about 4-5 months now.
The bad:
I have several smallish medical bills in collections, and a nasty Sears charge off of 2300.00
I have tried to settle the Sears C/O, but when offered a deal, the CA WILL NOT send me a letter saying the debt will be PIF once the negotiated settlement is sent. The good news, of sorts, is that debt is scheduled to come off in 2012.
I also have a Verizon bill for 646.00 that I actually owe 300.00 on, but with the crazy "fees", its 646.00 Sceduled to come off in 2011. I have never been contacted by anyone in person to pay this bill. EVER. Just letters.
I have the 3 current bank loans still open, with probably 7-8 30 days late payments scattered across the 3 loans, but they go back over a year ago. my current (within the last 3 months) payments have been on time.
I also have a Visa in my Dads name ( I am a Jr.) showing up on MY credit report. It has perfect pay history, but the balance is over 20K. Credit limit is 50K. Not sure if thats hurting me either?
My FICO is 520.
Any idea how much of an impact the 30 day late payments are killing my score, or is it mostly the Sears and Verizon accounts?
I have all 3 current CR's, and I haven't seen anything worth refuting other than my Dads Visa in my CR...most of it is pretty good.
I have read the FAQ's, but still not sure where to start.
Help or advice?
