topic Re: Please Help... in Rebuilding Your Credit

Please Help...

Anonymous — Thu, 22 Jul 2010 00:10:56 GMT

So Ive done all I can with my credit report. : (GWs and disputes)

Here is how it stands now......

Open Accounts:

Americredit : one 30 day late in oct. 2008 balance ...14000 (car)

American General: pays on time balance ....6000 (car)

9 Student Loans (PNC): Pays on time total balance...18000

Closed Accounts: All paid in full..

First Premier 30 days late oct 08, 60 days late nov. 08, 90 days late dec. 08, jan 09 CO..later paid in full Jan 2010

Citifinancial one 30 day late Oct 2008.. closed July 2010

Chase two 30 day late Oct. 2007and may 2008... Closed August 2008

Citifinancial pays on time (refinanced)closed 2008

Citifinancial pays on time (refinanced)closed 2007

BB&T pays on time closed in 2003

Collections

4 various one all paid, one to fall off in Nov. the other three not for a few years

Ive applied for a BOA secured and was embarassingly denied , I know I need revolving credit but not sure what to do now?

was added to my wife's Capital One card with 500.00 credit limit about 10% used opened only 3 months, Not showing up on reports, called Capital one and they said they do not report AUs??

How long now before I see my credit score move up.... hopefully soon.. we were really wanting to take out a mortgage on a new home... we need at least a 620.

Thanks to all that repond!!! your advice and guidance is greatly appreciated!

Re: Please Help...

Anonymous — Thu, 22 Jul 2010 00:18:59 GMT

Without getting some of those negatives off your report, it may take a while for your score to move up.

If they are not reporting your AU account it is not helping you at all.

For the closed accounts with the late payments, send them GW letters to see if they will delete the lates.

Keep sending GW letters to all the paid collections.

If any of them tell you no, keep sending them. Find someone else in the company to send it to. Just don't give up.

You can try Macy's. They were pretty easy to get but give a low initial CL. They report monthly but will only report a late if you are late 60 days.

What about some of the other rebuilder cards? I know they charge fees and all that but, you have to start somewhere.

Re: Please Help...

Anonymous — Thu, 22 Jul 2010 01:50:07 GMT

Also check the Bankruptcy forum - there's a sticky with a list of bankruptcy-friendly cards and what score you need to qualify. whogavemecredit.com is also helpful - check for recent approval information, and which report they check.

Re: Please Help...

RobertEG — Thu, 22 Jul 2010 04:22:18 GMT

I see at least 11 drogs on your CR, which apparently dont include the derogs on the OC accounts that went to collection:

All of these remain in your CR, even if the debt is now paid, until their normal FCRA expiration dates, unless you can secure a GW deletion of some or all.

30-day late with Chase 10/2007 remains until 10/2014

30-day late with Chase 5/2008 remains until 5/2015

30-day late with Americredit 10/2008 remains until 10/2015

30-day late with First Prem 10/2008 remains until 10/2015

60-day late with First Prem 11/2008 remains until 11/2015 (oldest major derog?)

90-day late with First Prem 12/2008 remains until 12/2015

CO by First Prem 1/2009 remains until after 7 1/2 years from your apparent DOFD of 10/2008.

which woulld be 4/2016

The four collections will remain for 7 1/2 years from the DOFD on the OC account which resulted in the collections.

If the OC accounts that led to these collections also had prior monthly reported derogs, those will also remain in yyour CR.

So you would have to address separate GWs to both the OC and the CA. The falloff of one of the collections later this year wont have substantiial impact in view of the other, multiple, major derogs still remaining.

That is a lot of good will to secure. I wish you success!

Until you get GW removal of most of those baddies, particualry the major derogs, such as the collections, CO, and 60/90 day lates, I really dont see a major gain in credit score.