What to do next

[Artyom87]

I recently got my report and I have 3 accounts with delinquincies. 2 of those accounts were charged off and one was paid (both First Premier); the other one still has not been paid. The third was two months late, but paid off and closed (Capital One). I also have an account in collections (AT&T). I was just offered to settle the account in collections for 50%.

I currently have the money to pay off the charged off account in full (515) and the account in collections for 50% (571); I could potentially pay the full debt to the collections or directly to AT&T if necessary. 

My FICO score is 585 and I'm hoping to bring it up substantially to get approval for an apartment when I move in the near future. My friend is willing to also help by placing me as an authorized user on his Capital One credit card.

So, I'm looking for some advice on my next steps.

post script: I screwed up quite bad after turning 18 and am now finally back on track.

[guiness56]

The way I read your post the one that is paid and closed only had late payments.  Those will come off 7 years from the dates of occurence.  When the last one comes off the account will turn positive again and stay for up to 10 years from the date closed.

The paid one all you can do is send a GW letter asking them to remove the TL.

For the collection account, offer a bit more for the settlement for them removing from your CR.  If you can pay AT&T and have them pull the account back from the CA, the CA would need to delete their TL.

Being added as an AU would give you instant history of the account.  Just make sure it has no late payments and low utilization.

Do you have any current CC?

[Artyom87]

Thanks for the response.

The one that is paid and closed (Cap1) was late for two months and then I paid it off and closed it. 

My first FPB card was a charge off, but then paid.

Should I send letters to both?

My second FPB card was a charge off and is still not paid. So, for this I'm wondering if I should contact them and pay it, or is there anything I should try firs? This debt originates from 2009.

I don't currently have a CC, but was concidering getting a secured card, in addition to be an AU.

[Artyom87]

Update: My friend's card is brand new (still in the mail). The limit is $500. Will being an AU on this account help, let's say, after 6 months or so?

[DaBears]

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@Artyom87 wrote:

Update: My friend's card is brand new (still in the mail). The limit is $500. Will being an AU on this account help, let's say, after 6 months or so?

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Hi Artyom87 and welcome to the forums. As long as he doesn't go delinquent on his payments you will be fine.