Established Contributor
Posts: 601
Registered: ‎02-12-2011
Re: Sphinx313's Credit Journal. The road to 700!
[ Edited ]

This second post will list the current status of my goodies and baddies. Future posts will include score increases and decreases as well as things that occur on my road to 700 that are credit relevant.




First Premier Bank: $901 Charge-Off. No Collection Agency on CR.


MidlandMCM: $1,073 Collection. From an old T-Mobile account.


Capital One: $518 Charge-Off. No Collection Agency on CR.


Verizon Wireless: $432 Collection. No Collection Agency on CR.


Portfolio Recovery: $414 Collection. Orchard Bank Charge-Off.


Farmer's Furniture: $140 Collection. No Collection Agency on CR.


Capital One: $0 Charge-Off. Strange, shows $0 but no CA has been on file ever.


HSBC Bank: $0 Charge-Off. Assigned to Portfolio Recovery.


Allied Collection Service: $1,600 Collection. Local College is OC.


Florida Hospital: $49 Collection. Cannot for the life of me get a hold of anyone that knows who owns this debt. Help?




Capital One Secured Card: $300 ($200 starting, $100 unsecured after 6 months of payments)


First Progress Secured Card: $300


First Progress Secured Card 2: $300


U.S. Bank Secured Card: $300


Dept. of Ed/Sallie Mae: $4,123 Installment


Dept. of Ed/Sallie Mae: $3,500 Installment



Plan of attack: Start with the most likely to assign me with a CA and further damage my credit: First Premier. Calling them/sending letter in the morning with an offer to pay 50% of the $901. $450.50 check is already written with no date or signature waiting for their letter.


Second item will be the Capital One with a balance and no CA. Both of these will help bring my utilization down as well.


Third item will be a PFD/GW Blitz to all remaining debts. The Allied Collection Service has politely informed me that they will never delete the listing under any circumstances, even though I owe $1,700 and offered to PIF. I paid $100 on it so the total is now $1,600. The $100 granted me "no collection activity" until February. This is easily the nicest CA I have ever dealt with, if that makes any sense at all. They have been extremely friendly and understand where I am coming from. Little do they know I am going to GW them into the ground.


I have cancelled my 38% deposit into my 401(k) effective 01NOV12, so my next check will be nearly $500 more than usual and I will use that to attack these debts. Two of my main CA's (Midland/Portfolio) have a history of being tough cookies to crack, and I don't intend on wasting any energy with them. I have an interest to pay off the 2 debts that are currently playing into my utility and keeping me at over 100%. The other debts are killing me regardless of whether I send them any money. So, I'll take my chances on PFD's and then hope my debt gets sold to a CA that's willing to do business later on. I will pay any debt to $0 if I ever receive a summons to court.


I am paying the $1,700 to Allied Collection Service because of 2 reasons: 1: They will not PFD at all. 2: If I don't pay this specific debt off, I cannot go back to school as the college is still the OC and Allied is just working for them. The OC will not deal with me, already tried. They will also sue me for sure, they have a history of it and I know people directly that have been sued. I just want it to go away and hope GW pays off. Since I am not currently and do not expect that in the next 6 years I will be searching for my first house, I will not pay any CA's that aren't willing to assist me in some way. The only reason to pay them is a manual review. Other than that, I see no positive coming from it and will be on the backburner in my quest to 700. 


I am calling First Premier in the morning to ask if they would like $450.50 to update my account to $0 to bring my util down to 50%. If they do not accept over the phone, I am sure something will come from the letter I send them as it will be in the right hands then. If you have any advice on any of my accounts or wish to provide any information, I am a sponge.

Starting Score: EQ: 383 2/2011
Current Score: TU: 644 EQ: 648 EX: 6?? 2/2015
Goal Score: 700

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