topic Re: How do you handle the frustration? in General Credit Topics

How do you handle the frustration?

jons998877 — Wed, 15 May 2019 15:38:08 GMT

I feel like right now there is really nothing I can do but wait.. I have 13 negatives on my CRs, 8 which will fall off by this fall because of the 7 year window and 2 that I did a PFD within the last 10 days... And the other 3 accounts are paid accounts that will not fall off until 2023 and I have had no luck with GW..

I have my 3 CC's and an installment loan and utilization is usually 0%..

So right now I feel like I am just playing a waiting game, waiting for the 10 negative accounts to fall off to see where my scores go, currently 582/589/599... And infortunately I feel like I am obsessed and getting frustrated with this waiting game.. Might send out another round of GW letters in a few weeks.. grrrrr

Re: How do you handle the frustration?

Anonymous — Wed, 15 May 2019 15:44:32 GMT

Time is the only thing that resolves these things because you literally need months of good data points to water down the bad ones. For now, just focus on creating solid history. I bounced back from a 590 credit score and in 12 months of solid behavior, my score jumped 100 points. You'll be fine - just be patient.

Re: How do you handle the frustration?

kxkxkxx — Wed, 15 May 2019 15:49:05 GMT

Jons....yes...been there done that as well....the only thing that worked for me, was to ignore it all and concentrate on paying everything on time...I fixed what I could but then you have to let your "garden" grow.

I can only say that it will get better and you will see a nice rebound in the near future once you get the monkey off your back.

I had a BK, tax lien, and a home that almost went into foreclosure...so you can guess my scores were horrible! I now sit at 750+....yes, it took some time, but I stuck to my plan and it worked....it will for you too.

Re: How do you handle the frustration?

Anonymous — Wed, 15 May 2019 16:10:52 GMT

OP, you said you had no luck with GW. My question is how many attempts did you make? It can take a ton of rounds. There are 2 creditors that each required between 50-100 GW letters before I finally got a "yes" response. I'm not sure how much effort you put into GW thus far, but you should continue to hammer away at it.

You could request early exclusion for the items due to fall off this fall. Sometimes they'll drop (around 6 months) early if you do that. With the presence of other major negatives though, I wouldn't expect any real score gains with those accounts falling off.

Re: How do you handle the frustration?

jons998877 — Wed, 15 May 2019 16:35:23 GMT

I have sent out two rounds of GW letters, most recently about two weeks ago... sent letters to 13 different people at Ford Motor Credit, a few to LVNV and one to Navient.. I guess my plan now is to maybe send one each week and see what happens..

Ford is a paid charge off with 30 and 60 day lates

Navient has 7 120 day lates from 2014 and 2016

LVNV was paid last week

Which is why I am not really worried about doing the EE with the stuff that drops this year, some should start falling in June

Re: How do you handle the frustration?

calyx — Wed, 15 May 2019 17:21:52 GMT

The last of my derogs will fall off at the end of the summer.
I am not the most patient person in the world, and I knew that there was a 7 year window. I waited until 8 years after my divorce to even address my credit. I realize this was probably a stupid idea, but I could afford to cash-only my life and I did it. So yeah, how did I handle it? By ignoring it until the 11th hour.

^Not recommended, but hey, it worked

Re: How do you handle the frustration?

SouthJamaica — Wed, 15 May 2019 19:37:01 GMT

@jons998877 wrote:
I feel like right now there is really nothing I can do but wait.. I have 13 negatives on my CRs, 8 which will fall off by this fall because of the 7 year window and 2 that I did a PFD within the last 10 days... And the other 3 accounts are paid accounts that will not fall off until 2023 and I have had no luck with GW..

I have my 3 CC's and an installment loan and utilization is usually 0%..

So right now I feel like I am just playing a waiting game, waiting for the 10 negative accounts to fall off to see where my scores go, currently 582/589/599... And infortunately I feel like I am obsessed and getting frustrated with this waiting game.. Might send out another round of GW letters in a few weeks.. grrrrr

The way I would handle it is channel my frustration into sending verification letters to the bureaus, for select items. Sometimes that precipitates an item's falling off the reports.

Re: How do you handle the frustration?

Anonymous — Wed, 15 May 2019 22:00:43 GMT

You may also want to try the AZEO method with your credit cards. You can search for it in the forum. Basically its pay all cards to 0 but 1 card BEFORE statements cut. Let the 1 card report below 8.9% of its credit limit for its statement, then you can pay that to 0 if you want.

You may be surprised by gaining some points that way I have 16 lates that are due to fall off in 2020, and 2021. I have learned patience through setting goals both short term and long term. It really does help!

Re: How do you handle the frustration?

Adkins — Thu, 16 May 2019 05:42:54 GMT

OP, if you decide to try the AZEO method, make sure the card you leave a balance on is not Chase card. Chase will report a paid to zero balance immediately and you'll lose some points.

Re: How do you handle the frustration?

Brian_Earl_Spilner — Thu, 16 May 2019 05:56:22 GMT

It is what it is. I waited 2 years for my derogatoriea to age so that I could even get new credit. I added almost everything in my sig in the last year along with 2 loans and a car. Now, I'm paying off the 2 loans and paying down everything else and have to sit around for another year to age my accounts and inquiries. It sucks, but I've positioned myself to get out of starter limit hell by october, hopefully.

Re: How do you handle the frustration?

jons998877 — Thu, 16 May 2019 13:51:39 GMT

I guess my only issue is that soon I will need to buy a new car, my 2008 Fusion has 226K miles on it, and while still running great, it is just a matter of time. Other than that, my current scores don't impact my current life a whole lot..

Last month I wasn't paying attention and I let one of my cards report $491 and has a $500 CL, this time it reported with a balance of $220.. and today my CK scores hopped up about 12 points (see what happens with FICO scores when thats updated).. next month I will pay more attention and make sure it reports less than 8.9%... I just use one card for cash back for everything (pay balance every Friday), other 3 cards don't get used other than Apple, Spotify and Netflix.. total CL is $1700

Re: How do you handle the frustration?

jons998877 — Tue, 21 May 2019 12:08:10 GMT

JUst an update... Yesterday got brave and asked both TU and EX for Early Exclusion on 5 credit card accounts showing chargeoffs and two colllection accounts showing balances.. was surprised the entire process only took me about 10 minutes as I talked to TU while I was online disputing EX.. Still have 3 baddies that won't age off until 2023 (plus 2 PFD that should fall off soon), but this would be a start and make me feeling better seeing fewer negative accounts. No idea if I would see a score bump if stuff falls off..

Still waiting for PRA and Tek-Collect to delete my accounts that I PFD within the last 3 weeks

Re: How do you handle the frustration?

Anonymous — Tue, 21 May 2019 12:19:30 GMT

So did you have 2 of 5 negative items removed via EE? It wasn't 100% clear what your result was above. The only way you'd expect to see a score gain is if you got rid of your most recent baddies or your most severe, meaning if you have remaining ones that are of the same age and same severity your score likely wouldn't increase. If entire accounts are being removed, you'll have to refigure your age of accounts factors before/after removal, as the change could cause a score increase or decrease.

Re: How do you handle the frustration?

jons998877 — Tue, 21 May 2019 12:57:41 GMT

Sorry, nothing has been deleted as of yet.. Hoping 7 of the accounts I asjed for EE yesterday will be dropped...

I also did 2 PFD on two different collections (one being my most recent) that should be dropping off soon..

Re: How do you handle the frustration?

jons998877 — Wed, 22 May 2019 18:00:54 GMT

So finally had some movement on my TU today.. EE was a total success, had two collections and 5 credit cards fall off.. Score bumped from 598 to 620... Still waiting for two PFD to fall off so hopefully get another increase there too..

Baby steps

Re: How do you handle the frustration?

Anonymous — Wed, 22 May 2019 18:23:20 GMT

CRAs are a funny thing for sure. I have 10 charge offs from two years ago (just recently settled and paid) and my lowest score is 669 and my highest 696. Your badies are far more aged than mine yet it seems you're still feeling the hits.

Re: How do you handle the frustration?

Anonymous — Wed, 22 May 2019 18:52:17 GMT

Congrats on your progress!!

Re: How do you handle the frustration?

jons998877 — Wed, 22 May 2019 19:11:32 GMT

@Anonymous wrote:
CRAs are a funny thing for sure. I have 10 charge offs from two years ago (just recently settled and paid) and my lowest score is 669 and my highest 696. Your badies are far more aged than mine yet it seems you're still feeling the hits.

What I have left is on TU (and other two should be similiar by Oct)

3 collection accounts from 2016-17 that I have paid in the last month... (2 should fall off as they were PFD)

Ford Motor which was charged off in 2016, paid via collection agency in 2018

Navient with several 120's, scattered in 2016, 2014 and 2013

Where I messed up was not having credit cards, Capital One I got Dec 2018 was first one I had in several years so my file is thin

Re: How do you handle the frustration?

jons998877 — Thu, 23 May 2019 23:45:08 GMT

I have another question...

I paid two PFD collections, as follows

Portfolio Recovery for $290 on 4/29... now reporting as paid

Tek-Collect for $1200 on 5/9, also reporting as paid

When can I expect these to drop off?

Re: How do you handle the frustration?

DollyLama — Fri, 24 May 2019 14:16:16 GMT

They should have removed them if true pay for delete, and verbal confirmation still holds. Not report 0 balance and status now paid in full. Contact these two CA back and let them know the agreement was for deletion.

Also, paying weekly on CC is good, keeps utilization low, but that week before statement cuts (not due date), DO let a small balance report $10-15. Never let them all report 0, you would be cheating yourself out of 20-25 pts.