topic Re: Capital One Upgrade and VS CLI. in Rebuilding Your Credit

Mission: Credit Rebuild. Destination: Garden.

SLR72689 — Fri, 12 Apr 2013 18:06:32 GMT

Starting a thread so I can track everything I'm doing and have done to get these collections taken care of.

FAKO Scores and the baddies as of 2/8/13:

Experian: 485 - 8 collections, 2 CO.

TransUnion: 503 - 6 collections, 2 CO.

Equifax: 590 - 0 collections, 2 CO, 1 collection reporting as "factoring company" and reporting 120+days late.

Collections:

Sonnenschein - 2 collections $500 each / **not mine** / only on Experian -- Disputed with Experian. Deleted!
NCO - 5 collections: $212, $212, $1,062, $637, $1,000 / Tollway Violations - PAID TOLLWAY / TU & Experian -- Disputed with TU & Experian. Deleted!
Midland Credit Management: $1,616 / T-Mobile bill / Experian & TU -- Sent PFD (in full) CMRR 3/5/13. It's been 10 days since I've sent the PFD, no reponse as of 3/14. 4/12/13: PAID!!!! Now the GW process for removal begins.

Charge-Off's

CFNA: $790 balance. CO June 2011. CA Alliance One collection on behalf of CFNA but not reporting. Offered settlement $490. 3/6/13 -- Paid settlement of $490, contacted CFNA and they are reporting the account as CO paid in full. **will send GW in hopes of deletion**
1st Financial Bank: $5,657 balance / $3,487 past due / $4,900 limit / CO 2011-- this will be the last debt I will attack since it is my largest and they haven't contacted me in a while. I don't want to wake a sleeping dragon.I believe they still own the debt as no CA has contacted me or reported it. Update (3/26/13): 1FBUSA reported derogetory information on my CR so I gave them a call to set up a payment plan. I'm on a 6 month payment plan for $125/month. In 6 months, I receive a letter, reevaluate my financial situation and set up a new payment plan hopefully paying more monthly. Slowly but surely it'll get paid down.

Re: My credit rebuilding journey. Destination: Garden.

SLR72689 — Fri, 12 Apr 2013 18:07:16 GMT

Accounts with no lates:

Best Buy (Capital One now):Limit: $1,305 / Balance: $381 (as of 2/28/13) / Age: 5 years
Victoria's Secret (Comenity Bank): Limit $350 / Age: New account

Accounts with late payments:

Ally (car loan installment) Starting loan amount: $16,594 / Balance: $5,937 (as of 2/28/13) / Age: 9/2008 - 4 years / Lates: 11 / Last late: 2/2012
Capital One: Limit: $500 Balance: $4 (as of 2/28/13) Age: 5 years / Lates: 1 / Last late: 2/2012
Orchard Bank (Capital One now): Limit: $300 / Balance: $0 (as of 2/28/13) Age: 12/2009 - 3 year / Lates: 3 (two 30 days, 1 60 day) / Last late: 1/2012

Accounts closed by credit grantor:

GMAC: (car loan installment) Balance: $7,756 / Payment Status: Paid as agreed / Close due to paying car off.
GECRB/American Eagle: Limit: $125 / Balance: $0 / Payment status: Paid as agreed / No late payments
GECRB/Care Credit: Limit: $1,400 / Balance: $0 / Payment Status: Was past due 90 days / Closed due to being 90+ day late / Was open till PIF then closed.

** Currently using 107% (yes... you read that right, I'm cringing just typing this) of my credit as of 2/8/13 before I paid off anything**

No regrets.

SLR72689 — Thu, 07 Mar 2013 00:31:58 GMT

How did I get here?

Well, I hate to throw my sob story in your face but it's the truth and how this all went downhill. Up until 2011, I had fantastic credit. 718 was my highest score I believe and for a 21 year old... that was pretty great for me. In May of 2010,after my father was let go from his job, I borrowed my parents $2500 (I took cash out from a credit card because it was literally my only option) to put a deposit on a rental townhome and to purchase a beater car. My father was paying me monthly payments to help pay the debt off. In Febuary of 2011, my elderly father was diagnosed with cancer. He went into a nursing home so he could have care 24/7. I then was in charge of taking care of elderly mother who's only form of income was her monthly disability check of $400something. My father's social security checks had been signed over to the nursing home/hospital to help take care of his medical bills. I was working two part time jobs, trying to take care of my bills, my mother and their rented townhome. From February 2011-November 2011, my life spiraled out of control. By November, I had lost both of my parents, was nearly homeless and barely making enough money to pay for food, let alone worry about my credit/debt.

I absolutely do not regret doing everything I had to to take care of my parents.

I know I got myself into this credit "mess" and now that I'm back on my feet, I am busting my ass trying to get back on track. In March of 2012, I was finally able to start making regular, on time payments but unfortunately for some of my accounts it was too late for that. I didn't have the money at the time to worry about them so I was paying the ones that would benefit me to pay at the time. I got a full time job (also March of 2012) and from then on I was making payments on my open accounts on time every month. Because of my lovely full time job, I had the biggest tax return I've had yet and paid off $2,048 in debt this month (I paid off two credit cards, one down to 30% and one collection). *Sigh of relief* While that is a good chunk, I still have a long way to go and a lot to pay off.

I'm only 23 so I'm hoping by the time I am ready to purchase a home, my credit will be repaired completely and I won't have anything to worry about.

Any suggestions, advice, criticism.... throw it my way. I'm trying to learn as much as I can (and already have learned SO much from these forums) but I am young and don't know much about much of anything

Re: My credit rebuilding journey. Destination: Garden.

SLR72689 — Sat, 02 Mar 2013 13:37:16 GMT

Small victories are still victories!!

SLR72689 — Thu, 07 Mar 2013 00:32:29 GMT

Today, I was instantly approved for a Victoria's Secret store card with a CL of $350!! I was very hestiant on whether the shopping card trick would work or not, but it did! So excited to get another positive TL reporting on my file!

Re: My credit rebuilding journey. Destination: Garden.

Shogun — Sun, 03 Mar 2013 02:20:22 GMT

Sorry to hear about your family. But I'm proud of the way you're handling it. Hang in there, you're doing great!

Re: My credit rebuilding journey. Destination: Garden.

SLR72689 — Sun, 03 Mar 2013 15:11:01 GMT

@Shogun wrote:
Sorry to hear about your family. But I'm proud of the way you're handling it. Hang in there, you're doing great!

Thank you so much!

Re: My credit rebuilding journey. Destination: Garden.

Gunnar419 — Sun, 03 Mar 2013 15:57:11 GMT

Yes! Sounds like you're going to make a strong -- and very well organized -- recovery. Good for you.

Losing both parents in such a short time must have really thrown you for an emotional loop as well as a financial one.

Denied. Denied. Denied.

SLR72689 — Thu, 07 Mar 2013 00:32:54 GMT

3/4/13: Well, I wrote to Capital One via snail mail AND e-mailed the executive office. Got a call from the EO today.Denied. She claims "Capital One does not do Goodwill Adjustments because it would not be reporting accurately as required and that if there was anything she could do for me (wrote about how I lost both my parents two months apart at the time of the one missed payment in 6 years) she would do but unfortunately there is nothing."

Very discouraging... but I will not give up. My account will be flagged with this missed payment until 6/2018.

I guess I will see if anything comes from the written letter. In a few weeks, I'll try again.

Not backing down.

SLR72689 — Thu, 07 Mar 2013 00:33:18 GMT

3/5/13: Sending a written letter to Capital One's Financial Corporate Office and to GE CRB / Care Credit for goodwill adjustments on late payments. *fingers crossed*

Score Update!

SLR72689 — Thu, 07 Mar 2013 00:33:40 GMT

MyFico TU update: 576!!!!!

5 (NCO) collections removed
paid CFNA/Alliance One charge off; updated as $0
paid off two credit cards down to $0

I went from 106% utl to 30% for Best Buy but they have yet to report.

Fako vs Fico.

SLR72689 — Thu, 07 Mar 2013 00:39:33 GMT

I know myFico scores are the ones lenders use, but since I don't have the money to constantly pull my credit scores through myFico, I am going to keep track of my score updates through my bank's credit monitoring program. For now, I don't think I'll see much of a score jump since I just had 7 collections removed and had a very nice boost. I don't expect on seeing another big jump until I pay off/get rid of Midland or have my COs removed.

I'll pull myFicos when I think it's worth spending the money. Situations like:

having my Midland Credit Management collection removed.
if I get CFNA to remove my paid CO.
once I (waaaaaaaaaay down the line) pay off 1FB USA CO.
if I want to apply for a new card.

I'll keeping GWing Capital One, CFNA and Orchard Bank. They have to eventually get sick of me, right?

Re: Fako vs Fico.

SLR72689 — Sat, 09 Mar 2013 12:55:58 GMT

Damn. Wish I would have paid the $2048 I paid on current credit card accounts towards my largest CO considering that would've helped more than paying my current cardes since they both factor in my UTL. Darn darn darn. Oh well!

March Fako Scores.

SLR72689 — Mon, 11 Mar 2013 04:45:39 GMT

FAKO Scores and the baddies as of 2/8/13:

Experian: 485 - 8 collections, 2 CO.

TransUnion: 503 - 6 collections, 2 CO.

Equifax: 590 - 0 collections, 2 CO, 1 collection reporting as "factoring company" and reporting 120+days late.

FAKO Scores and the baddies as of 3/10/13:

Experian: 582 - 1 collection, 1 CO. +97 points.

TransUnion: 538 - 1 collection, 1 CO. +35 points but -38 points from March myFico score.

Equifax: 591 - 1 CO, 1 collection reporting as "factoring company" and reportings 120+days late. +1 point.

I know they are just fako scores... but if they're climbing, myFico's gotta be climing a little bit!

**Best Buy still hasn't reported that I paid my $1,391 balance down to $381. Bastards.

Re: March Fako Scores.

SLR72689 — Mon, 11 Mar 2013 23:17:52 GMT

I got my shiny, sparkly Victoria's Secret credit card in the mail today! Woohoo for a positive TL to soon be reporting!!

Denied, denied, denied.

SLR72689 — Mon, 18 Mar 2013 15:58:08 GMT

I am not having any luck with any goodwill letters / e-mails. I won't give up... it's just very discouraging. I'm a little jealous of all of you who have gotten lates removed.

I had sent an e-mail to the CEO of Capital One and got a call back and she was very nice but denied a goodwill on removing lates because they are "required to report accurately."

I also sent a letter via snail mail to the Capital One address on my credit report and I received a letter stating the same thing the woman on the phone told me. Bah hum bug.

Today I sent an e-mail to GE / Care Credit asking to remove some lates. I also sent a letter last week but no response of yet.

Just keeeeeep trying.

First Financial Bank Charge Off.

SLR72689 — Thu, 21 Mar 2013 14:52:10 GMT

1st Financial Bank: $5,657 balance / $3,487 past due / $4,900 limit

They haven't contacted me in months, they used to call me multiple times a day. I got an alert that new derogeratory information has been updated and it was them reporting. I also noticed they did a soft pull earlier this month.

I want to say the DoFD is probably early 2011... not sure exactly. I'll have to check my reports later. So I'm still in SOL for another 3 years or so.

I want to start making payments (not that I can really afford it... but I'm willing to sacrifice some things) as long as they report monthly my new balance every month.

I know this is the only way my score is really going to boost any more than it has because my utilization is over 100% because of this. So the sooner I attack this, the better. I'm not really worried about having it deleted at this point, I just want my utilization to start going down.

$100/month until I can afford more is better than nothing... right?

My original plan was to use my $500 christmas bonus from work, my sick & vacation days not used and my tax money to put towards this early next year and then begin making payments.

I definitely don't want to call them until I have a plan set.

Oh, decisions... decisions...

Re: First Financial Bank Charge Off.

Anonymous — Thu, 21 Mar 2013 15:57:19 GMT

Thanks for sharing your journey with us and although congratulations are in order for your score increases and debt reduction, you should be applauded (standing, really) at your unselfish decision to help your family. Kudos to you ... yes, kudos to you!

Re: First Financial Bank Charge Off.

SLR72689 — Thu, 21 Mar 2013 19:43:50 GMT

@Anonymous wrote:
Thanks for sharing your journey with us and although congratulations are in order for your score increases and debt reduction, you should be applauded (standing, really) at your unselfish decision to help your family. Kudos to you ... yes, kudos to you!

Thank you so much

Re: No regrets.

missionpossible — Fri, 22 Mar 2013 00:41:10 GMT

So sorry to hear what you have gone through at such a young age. You should be proud of many things, especially taking care of your family and doing what you had to do when you had to do it. You are so young, yet seem so mature. I am sure you will be at 750 in no time, you seem to be on the right track. Good luck to you.