hi everyone, my first post here. The last few days I got a sudden urge to check in on my credit scores because I had been planning to refinance my car loan to see if I'd get a better rate. It ends up my credit history is so bad right now that my CURRENT lender for the car loan woudln't even consider me to refinance when I have perfect payment history with them LOL. No clue how they approved me in the first place, then, since I am sure it is no different than the day I got the car. If anything, it's better since I've been making the payments.
Anyway, there are 2 charged off CC accounts I have asked to have deleted since I was only an 'authorized user' and one of them was from 2003. They only showed up on EQ and TU. TransUnion deleted them both OVERNIGHT and EQ is currently investigating the dispute. The one is a Chase CC where I was an authorized user and the balance was over $13,000, unpaid by the main account holder. I thought having that deleted might help, hope I was right.
After those, there will be one legit remaining CO, which is HSBC credit card sold to collections.
I have a judgement from an unpaid medical bill of $196 which will fall off in Novermber this year, so I think I will leave it alone and let it fall off.
My biggest problems are 3 collection accounts: one is only $30 with NCO for an internet hosting account where I never paid the last month's bill. I can EASILY pay this off and ask them to delete it, I have heard of success stories here with them deleting for payments. I plan to do this in the next week or two.
The other 2 collection accounts are to MIdland for $535 for an old T-mobile bill from ending contract early (which is most current from 2012 ) and to Port Folio Recovery for $645 which is the old HSBC charged off account, collection account opened 2009.
None of these are high sums of money but I definitely don't have it especially to pay in full. If I start making payments on them, will my score improve at all? They show as collection accounts on TU and EX but for some reason, on EQ only the $30 NCO shows as collection and the other two show as 120+days past due open accounts. I am really conused as to why that is, but either way I gotta figure out the best course of action.
So, first and easiest thing to do - ask NCO to PFD the stupid $30 account. That is at least one collection OFF my report.
But I cannot decide how to handle the other two, would it be better to just make payment arrangements with both of them to show i am making payments and current, or just try to settle and have them deleted?
The ONLY 2 good things on my credit right now are my car loan which is perfectly up to date for a year now, and a 'sales account' for my personal trainer company which reports my auto/EFT payments monthly. I really want to clean up my report and learn how to use credit THE RIGHT WAY. After reading a lot about it the last few days I was really not equipped with the right knowledge back then. Right now I can't even get approved for SECURED cards! Unless I go with crappy Matrix secured, or First Progress, Skyline (whatever its called) where you don't need a credit check. Capital One secured denied me entirely, and so did Citi Bank.
