topic Re: Im a walking credit disaster! WHAT TO DO?! in Rebuilding Your Credit

Im a walking credit disaster! WHAT TO DO?!

Anonymous — Fri, 26 Aug 2011 22:40:57 GMT

Okay, I'm newer to this form and looking for some knowledge. I've ben reading up and started to send out DVs which are comming back as mine (one I ended up getting sued for shortly after and paid off). Now, here's a list of whats on my credit report (sorry its so long!):

The BAD:

4 student loans, two companies, one I was 60 days late May of 2010 and the other I was 120 days late in april of 2010 (loans started up and i didn't know it)

Capital One DOFD 11/05 $0 balance

DTE energy date opened 9/06 $0 balance (muliple lates from 07 and two in 09)

FIRST PREMIER
517800773325XXXX 03/2009 $364 12/2010 $364 CHARGE-OFF $250

LVNV FUNDING LLC
603532024534XXXX 05/2008 $875 08/2011 $875 N/A

PINNACLE CREDIT SERV
ER0XXXX 03/2008 $2,308 08/2011 $2,308 N/A

RECEIVABLES PERFORMANCE MG (original DirectTV) DOFD 6/2010 $770 balance

LJ ROSS & ASSOSICATES (original Consumers) DOFD 6/10 $550 balance

CREDIT PROTECTION (original comcast) DOFD 12/09 $430 balance

Client Financial Services (TCF bank) DOFD 11/09 $300 balance

Now thats a lot of negative! I only have one open account (which is positive from Capital one opened 2/2011)

I had offered Pinnacle a PFD and they had accepted it before but I never followed through. Now that I'm more finacially stable, I'd like to, so I plan to try that again. However, who should I start with/which will impact my score the most? I am not rich, pretty low budget but I really want to get a house within the next 2 years so I need an increase! My equifax was 515 last month. Thanks!

Re: Im a walking credit disaster! WHAT TO DO?!

finnewbie — Sat, 27 Aug 2011 00:06:42 GMT

The most recent collections would be the ones that are hurting your score the most. A collection is a collection no matter the amount, I've learned the hard way. I would suggest that you try to PFD the most recent collection account and work your way backwards to the oldest collection account. If money is an issue, then try to PFD the most recent collection that you can.

Re: Im a walking credit disaster! WHAT TO DO?!

Anonymous — Sat, 27 Aug 2011 05:03:22 GMT

I agree. You should target the most recent that you can afford, the most harmful to your score. But if you're not in the position to PFD every one of them right now, then go slow, one at a time-no need to wake up too many sleeping giants. The biggest thing to focus on is your CC in good standing and every other bill and creditor that you have right now. Utilities IMO you don't want to be late on(those collections so hard to remove-IME), but you can tackle these on your CR, the balances aren't too huge. I had a report just like it when I started so no worries, you are def. in the right place

Re: Im a walking credit disaster! WHAT TO DO?!

sharpie — Sat, 27 Aug 2011 16:17:41 GMT

LJ ROSS & ASSOSICATES (original Consumers) DOFD 6/10 $550 balance

Do you currently have Consumers in your name? I owed around $700.00 on old bill, and they put new power in my name with a payment plan for the old bill. IMMEDIATELY LJ ROSS started reporting OK. I now have the pleasure of owing them nothing but current bills, and when I get around to it will GW to get the old one deleted. It did give my score a jump as soon as the monthly KD disappeard and the OK showed up.

Plus it felt great to at least get one thing all paid up.

Re: Im a walking credit disaster! WHAT TO DO?!

Anonymous — Sat, 27 Aug 2011 22:22:08 GMT

Nope, I don't currently have them at all. Don't need to around where I moved to. Actually I think they're on some BS because I never had gas on in the home their saying i did, i just got this on my credit. I tried to report it and they did nothing :-(