where in the heck do i stand...

[Anonymous]

My current score is 573 transunion and 497 equifax via myfico. I have the following in paid and closed collections: Fst premier paid out in 07/2006 no lates reporting. Kay Jewelry: dola 01/2006, PIF closed no lates reporting.

Tribute Card: dola 08/2008 PIF closed lates in May for 30 days, June 60 days, July 90 days in 2008.

So Cal Edison: dola 06/2007 payment in full after charge off.

Nissan Motor Acceptance: dola 04/2004 lates in 06/2003 for 30 days 07/2003 for 60 day and 03/2004 for 30 days, PIF and closed already.

CMI : pif dola unreported

Calvalry Port: pif dola not reported

Collection REC BUR: pif just showed up on report 03/04/2010, just got the deletion letter in the mail for this one, waiting for it to drop off.

***********These are all paid collections, only in which one was willing to deleted, i've tried gw letters and nothing has been successful*********************

UNPAID COLLECTIONS BELOW(NOT WILLING TO DELETE)

Arrowhead credit union: $999.00 joint account with an ex girlfriend.

Progressive INS: $250.00

Progressive INS: $164.00 These two accounts are newer

CMI: dola not reported but showed up on report as of 02/2010 $1335.00

I have the following items open and current

Target Card: balance is zero, CL is $200.00

Total Card: balance is zero, CL is $300.00

Cap one (auth user): balance is zero, CL is $6,500

Chase (auth user): balance is zero, CL is $16,500

CitiCard(auth user): balance is $297.00, CL is $25,000

Chase Auto: balance is $4,234, two thirty day lates in 02,03 2009

Wells Fargo Auto (co signed for an ex): balance $6,400 60 day late in 01/2009 and from 02 to 08 in 09 she had 7 30 day lates (I know ouch)

I also have $4,817 in deferred student loans...

PLEASE ANY INFORMATION THAT I CAN USE WOULD BE AWESOME!! I have tried GW letters and no luck. Trying to buy a home.

[LIGHTNIN]

Hi joshandkimm,

Please Please, don't be in a big hurry to buy a home.Take advise from a 50yr old gal.

Buying a home is the Largest thing you will buy,so take your time and a do it right.

DH and I bought a home 25yrs ago and thought we would trade up in a few years.......wrong one medical thing after another.

Right now we are trying to update and fix things, in hopes of trading up soon, maybe a year.

I see you registered with myFICO in NOV09.So it looks like that's the time you started getting serious about your finances.

Your last late was Feb 09,That was 1yr ago,I think its 2yrs paying on time, your score may see a jump.

So 1yr paying on time is a start, a good start.That is 1yr closer to getting your home. Paying on time is 35% of FICO score.

Another good thing is, you are not thousand and thousand of dollars in debt.

Keep paying your CC off at the end of the month,not just the minimum.

Because if you lose your income and fall back on payments or dont pay at all, that will really hurt your score.

Your unpaid collections,you may want to think about paying them, then asking for a delete with GW letters.CU's are a great thing to have.

When you have a black mark with aCU,the other may blacklist you. So if you have the money, you may want to talk with them about the acct. 

Consult with a lawyer,maybe you can get back the money, that you paid on her part of it,idk.

As paying on your unpaid collections,it will give you peace of mind,and also no worries from further legal actions.

Sorry for the long post, But if your still reading LOL

The best advise I can give you, is to have an (ER FUND)emergency fund.

Have enough of an ER FUND to cover your monthly expenses,in case of a job loss,enough to find another job. 

Also having an ER FUND to fund those sudden bills, means you don't have to use the CC's and pay interest or borrow money from family/friends.

And the best thing is your CR is not affected. Hooray!!!

Credit Repair and rebuilding takes time and patience. So keep paying on time.Also keep reading and learning.Knowledge is Power

[Anonymous]

Thank you for your response....anybody else..any info is awesome..

[RobertEG]

My advice is prefaced by one observation.   You have seen the light, and now understand how scoring works! Congrats!

Where you now stand is in a quagmire of CR dreogs, and future peril.

Each closed OC account for which you then faced a CO or CA now has derogs in your CR that will remain for 7 years from their date of delinquency reporting.  So without a GW adjustment, it is just a 7 year wait.

Congrats on paying the CAs, but payment does not erase, as you know, the continued inclusion of the CAs in your CR until 7 1/2 years has expried from the DOFD on the OC account that resulted in each CA.  GW deletion can be attempted, but is not high probability.CAs are not known for GW, they are known for collecting on misfortune.

Upaid accounts in collection are particularly of concern.  Legal action can follow.

Open accounts that are now in delinquency may lead to a new CO or CA.

CL established as being an authorized user may not carry much clout with a creditor upon manual review of your CR. 

That looks like the bulk of your CL, and not established by your own persoanl credit risk.

My honest opinion, for what they are worth.