Where should I begin?

[js0319]

I've just started reading the forums about 2 weeks ago, and I appreciate everyone's input. My wife and I ran into some tough times a few years ago with finances, and it has taken us a long time to get to a point to where we can start doing something about our situation. Even though we're married, we are tackling our credit situations individually. I'm trying to figure out where I should start in my quest to get on track, recover from the past, and get my credit where it needs to be so I'm not wasting so much money with high interest rates and feeling like I'm throwing my money away.

The good news is we still have our mortgage (FHA) and have paid on-time for almost 4 years, my wife got a new car financed through Cap 1 AF in August and I was able to get a used car financed through Americredit Financial (which is now GM Financial), but the price we pay now for our past is very high interest rates on the auto loans. 

I'd like to know if anyone has any suggestions on how we should begin the process of repairing our credit and getting rid of these debts.

Here's a spreadsheet I developed based on my CR from last week:

Collection Company	Original Creditor	Account Type	Card Type	Status	Original Balance	Current Balance - As of 02/12	SOL Passed?	Falls Off	Notes
Bank of America	Bank of America	Credit Card	Visa	Collection	$600	$955	No	06/2015
Discover	Discover	Discover Card	Discover	Collection	$1,500	$2,444	Yes	05/2014
Conserve	University	Student Loan	N/A	Collection	$6,000	$7,397	N/A	N/A
TX Guaranteed	BHES	Student Loan	N/A	PIF	$986	$0	N/A	06/2015	Called for Goodwill removal on 2/24/2012, declined
TX Guaranteed	BHES	Student Loan	N/A	PIF	$798	$0	N/A	06/2015
TX Guaranteed	BHES	Student Loan	N/A	PIF	$662	$0	N/A	06/2015
Asset Acceptance	Citibank	Credit Card	Mastercard	Collection	$2,559	$4,780	Yes	10/2014
Credit Adjustment Co.	Primary Care	Medical	N/A	Collection	$86	$86	No	06/2017
Credit Adjustment Co.	Primary Care	Medical	N/A	Collection	$54	$54	No	03/2017
Credit Adjustment Co.	Primary Care	Medical	N/A	Collection	$81	$14	No	02/2017
Credit Protection	Suddenlink	Utility	N/A	PIF	$148	$0	No	05/2015
Credit Systems Int., Inc.	Medical	Medical	N/A	PFD	$69	$0	No	11/2015	PFD on 2/24/2012
Midland Credit Mgmt., Inc.	Citibank - Home Depot Loan	Credit Card	Store	Collection	$4,997	$6,168	Yes	06/2014
Sarma Collections	Medical	Medical	N/A	Collection	$168	$168	No	09/2015
Healthcare Funding Solutions	Medical	Medical	N/A	Collection	$371	$371	No	10/2015

[RobertEG]

I would begin by first addressing those items that have the potential of doing further damage before addressing the removal of items that are kinda stagnant.

As I view the list of accounts, the unpaid collections that are still within SOL represent the potential of legal action, particularly those that show a higher unpaid balance.

Debt that it outside of SOL gives you the option of waiting them out for expiration of their normal CR exclusion period or of offering PFDs if earlier CR excusion is desired.

Unpaid debt that is still within SOL gives them their own option.

Do you have funds available to address the collections still within SOL?  Are you willing to take a chance that they wont take legal action, and thus direct your efforts at the other time-barred debts?

[js0319]

The only account that I have that is still within SOL - that is not a medical bill or student loan - is the BofA account. I am weary of contacting them directly because I'm not sure of what my rights are in negotiating the debt with them. I want to make sure that by negotiating or attempting to pay I'm not restarting the clock. Does anyone have any suggestions on how to negotiate with BofA, and has anyone had any luck with having them PFD?

[js0319]

The medical portion of what I owe accounts for a smaller percentage of the total dollars in collection, but over half of the collection accounts. I've also been told by Conserve that in order for me to get on track with the student loan, I have to rehab the loan and make 9 consecutive payments to pay off the collection fees and interest to get the account back down to the original balance it was at before I defaulted. Any suggestions on what to do with the Bank of America collection?