Trying to Jumpstart my Credit after being overseas for the last 10 years

[Anonymous]

Hello

I've been reading a lot here and need some advice. So i basically have not used my credit in the last 10 years, it was bad and almost everything fell off. Only one charge off that is not reporting monthly but shows "charge off" but its about 10 years old since DOFD.  Should i dispute with CRA?

My son did use my Social and got an att line and i have a recent collection fron Enhanced Recovery for $117 which i intend to DV then offer a PFD.


My question is : What do i need to do to get it going again? Put my name on a utility bill? Checking account? What credit cards to get? Any advice would be much appreciated.

Regards

[Anonymous]

it depends what your current scores are. start with 3 unsecured cc if possible, if not, then start with 2 secured cards and work your way into unsecured cards.

[Anonymous]

Credit Score are:

EQ: 567
TU: 567
EX: 630

[gdale6]

---

@Anonymous wrote:

Hello

I've been reading a lot here and need some advice. So i basically have not used my credit in the last 10 years, it was bad and almost everything fell off. Only one charge off that is not reporting monthly but shows "charge off" but its about 10 years old since DOFD.  Should i dispute with CRA? Absolutely, I would dispute it as too old to remain on file if its 7.5 yrs or more past the DoFD.

My son did use my Social and got an att line and i have a recent collection fron Enhanced Recovery for $117 which i intend to DV then offer a PFD.  I would not do the DV if you are trying to get it off your reports, they could interpret that as an adversarial stance and kill any chances of a PFD. If you know its yours (your sons) and you dont want to use the ID Theft provisions to have it removed then I would move directly to the PFD.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/td-p/2031275

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/td-p/4519


My question is : What do i need to do to get it going again? Put my name on a utility bill? Checking account? What credit cards to get? Any advice would be much appreciated.  I concur with the poster on getting going on your secured credit cards. Welcome to My Fico

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Secured-Cards-Database/td-p/3846302

Regards

---

[Anonymous]

---

@Anonymous wrote:

Credit Score are:

EQ: 567
TU: 567
EX: 630

---

start with 2 secured cards, i always recommend Boa cuz they will graduate it to unsecured after a period of time.  then u can PC to a reward card + hp for a CLI.

i started rebuild with similar scores and my EQ is at 700 and EX/TU mid to high 600 ATM.  also have Chase Freedom at 4k and Sallie mae at 2200.

[Anonymous]

---

@gdale6 wrote:

---

@Anonymous wrote:

Hello

I've been reading a lot here and need some advice. So i basically have not used my credit in the last 10 years, it was bad and almost everything fell off. Only one charge off that is not reporting monthly but shows "charge off" but its about 10 years old since DOFD.  Should i dispute with CRA? Absolutely, I would dispute it as too old to remain on file if its 7.5 yrs or more past the DoFD.

My son did use my Social and got an att line and i have a recent collection fron Enhanced Recovery for $117 which i intend to DV then offer a PFD.  I would not do the DV if you are trying to get it off your reports, they could interpret that as an adversarial stance and kill any chances of a PFD. If you know its yours (your sons) and you dont want to use the ID Theft provisions to have it removed then I would move directly to the PFD.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/td-p/2031275

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/td-p/4519


My question is : What do i need to do to get it going again? Put my name on a utility bill? Checking account? What credit cards to get? Any advice would be much appreciated.  I concur with the poster on getting going on your secured credit cards. Welcome to My Fico

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Secured-Cards-Database/td-p/3846302

Regards

---

---

Thanks for your input. I was thinking of contacting AT&T directly and trying to make a payment. In fact we do have an ATT email  requesting payment and that it can be made online prior to it going to collection. If i'm successful at making a payment , wouldn't it make it much easier to getting it deleted of my CR?

[gdale6]

What you want to do is call ATT ask them to recall their collector in exchange for full payment, if they do it the CA is gone, if they wont then you have to go the PFD route with the reporting CA.

[Anonymous]

Welcome back Stateside!  Here in Boston Massachusetts area, we have a big newly arrived immigrant population. The formula that works very well for the hard-working Spanish folk is that I live around is this:    (1)  Open checking account with local credit union  (2)  Open credit builder loan (installment loan) with same credit union. (3)  Open secured card with credit card lender.  Sometimes, you can do 1,2 & 3 through the same bank with only a single hard inquiry.   After 6 months of reporting, you can try to get an unsecured card.  After a year, the same credit union you used for 1, 2 & 3 will likely give you good rates on a car loan. Again, this is a formula I've seen work well and quickly for hard working immigrants, I'm sure it will work for you!

[Anonymous]

Great info. Thanks guy. Feel freet to add more :-)