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I have no idea where to start rebuilding my credit and could def use some advice here.
My (FICO) credit score (on average between the 3) is 593, and I would love to improve this score, but have no
idea where to begin. My husband and I went through a "tough" spell about 5-6 years ago and what is remaining
on my credit reports stems from that period. Is it even worth working on? Or should I just hold off?
Below is what is left on my reports:
Bank of America - Charge Off - $1039 - DOFD 04/2008
GTE - Closed - DOFD 02/2008
HSBC - Charge off - $612 - DOFD 05/2007
AT&T - collection - $131 - DOFD 04/2011
Medical - collection - $60 - DOFD 07/2008
Medical - collection - $80 - DOFD - 04/2011
Chrysler Financial - Paid off / Paid as Agreed - 14 times 30 days late/ 60 month
Capital One (Secured Card) $450 - Paid as Agreed (Always pay off, never utilize over 10%
Any help would be GREATLY appreciated
Welcome to the forums!
I'd suggest reading the following:
Common Abbreviations
Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.
What Steps Do I Take - great for learning the repair process.
and Example letters - PFDs, GWs, DVs, etc.
If I had what you posted, I would do the following....
BofA - I'd PIF and send GW letters. BofA is very difficult to deal with and I personally wouldn't bother sending PFDs because of their track record of not accepting them.
GTE - What's derogatory about them? Lates?
HSBC - HSBC is also tough, especially now that CapOne is acquiring them. I'd also PIF now and GW later.
AT&T - If a CA is reporting vs. the OC (I'm guessing), then I'd send a DV letter to the CA. If they verified and I agreed, then I'd send a PFD.
Medicals - Two choices: 1) HIPAA process or 2) DV-PFD. I'd opt for the latter and would send a DV to each. If they verified and I agreed, then I'd send a PFD.
Chrysler - how old are the lates? When is the most recent 60-day?
GTE -- To be honest, I have no idea what it was even for! The amount says $0. It is closed and it doesn't appear to have ever
been sent to a CA. The only thing I can think of is maybe it was a final bill I never received. Should I send a DV to GTW to find
out what exactly it was for? or would that just be opening a can of worms at this point?
Chrysler -- The last late payment was on Dec 2006. The account was paid off in full in Mar 2007.
I would call and find out about the GTE account. I would also contact the original credit on the medical collections. IIf you have the $$ offer to pay in full in exchange for pulling the collection account back from the collection agency. First verify that it is your debt . edited to add: I would also call ATT and see if they still own this debt.
GWs, maybe one more secured card, and garden!
Those derogs won't be on, that much longer.