topic Re: Newby here...could use some advice on this.. in Rebuilding Your Credit

Newby here...could use some advice on this..

Anonymous — Thu, 23 Apr 2015 20:27:55 GMT

Hi there, im new here and had a question for anyone who might have dealt with a similar situation...

I had First Premier card from 2012 with a line of 300.

Apparently letters were sent to my old address about the status of the card, obviously didnt get those but there seems to be inconsistencies here.

Equifax, Transunion, and Experian are reporting a charge off but its not listed as an account in collections and still an open revolving account.

I called First Premier and they forwarded me to Central Credit who couldnt really tell me much. The balance is now at 449 and has made my utilization 150% which is obviously killing my score.

Does anyone know how i should approach this? I dont want to pay it off yet without knowing how it will effect my report.

They updated the status after i called a few weeks ago and now Equifax reports as being 90 days late 20 times~! Meanwhile, Trans and Experian are like 1 or 2. Makes no sense.

Thanks in advance!

Re: Newby here...could use some advice on this..

gdale6 — Thu, 23 Apr 2015 22:08:53 GMT

@Anonymous wrote:
Hi there, im new here and had a question for anyone who might have dealt with a similar situation...

I had First Premier card from 2012 with a line of 300.

Apparently letters were sent to my old address about the status of the card, obviously didnt get those but there seems to be inconsistencies here.

Equifax, Transunion, and Experian are reporting a charge off but its not listed as an account in collections and still an open revolving account.

I called First Premier and they forwarded me to Central Credit who couldnt really tell me much. The balance is now at 449 and has made my utilization 150% which is obviously killing my score.

Does anyone know how i should approach this? I dont want to pay it off yet without knowing how it will effect my report.

They updated the status after i called a few weeks ago and now Equifax reports as being 90 days late 20 times~! Meanwhile, Trans and Experian are like 1 or 2. Makes no sense.

Thanks in advance!

Since they are updating it now the damage to your Fico has been done and I would proceed to the PFD offer and if they wont accept it then I would settle it to stop the continued monthly updating your score cannot recover while they continue to update.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/td-p/2031275

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/td-p/4519

Re: Newby here...could use some advice on this..

Anonymous — Thu, 23 Apr 2015 23:31:34 GMT

^ +1

Re: Newby here...could use some advice on this..

RobertEG — Fri, 24 Apr 2015 00:54:55 GMT

Plus, since it is charged-off, they may soon refer the debt to a debt collector or sell the debt.

Either could result in the addition of a collection, doing further damage.

A good time to seek a PFD or settlement......

Re: Newby here...could use some advice on this..

Anonymous — Fri, 24 Apr 2015 18:09:13 GMT

@Anonymous wrote:
Hi there, im new here and had a question for anyone who might have dealt with a similar situation...

I had First Premier card from 2012 with a line of 300.

Apparently letters were sent to my old address about the status of the card, obviously didnt get those but there seems to be inconsistencies here.

Equifax, Transunion, and Experian are reporting a charge off but its not listed as an account in collections and still an open revolving account.

I called First Premier and they forwarded me to Central Credit who couldnt really tell me much. The balance is now at 449 and has made my utilization 150% which is obviously killing my score.

Does anyone know how i should approach this? I dont want to pay it off yet without knowing how it will effect my report.

They updated the status after i called a few weeks ago and now Equifax reports as being 90 days late 20 times~! Meanwhile, Trans and Experian are like 1 or 2. Makes no sense.

Thanks in advance!

Pay it off. You need to get it off of your UTI%, or your scores will never recover.

Re: Newby here...could use some advice on this..

surferchris — Fri, 24 Apr 2015 19:00:17 GMT

@Anonymous wrote:
@Anonymous wrote:
Hi there, im new here and had a question for anyone who might have dealt with a similar situation...

I had First Premier card from 2012 with a line of 300.

Apparently letters were sent to my old address about the status of the card, obviously didnt get those but there seems to be inconsistencies here.

Equifax, Transunion, and Experian are reporting a charge off but its not listed as an account in collections and still an open revolving account.

I called First Premier and they forwarded me to Central Credit who couldnt really tell me much. The balance is now at 449 and has made my utilization 150% which is obviously killing my score.

Does anyone know how i should approach this? I dont want to pay it off yet without knowing how it will effect my report.

They updated the status after i called a few weeks ago and now Equifax reports as being 90 days late 20 times~! Meanwhile, Trans and Experian are like 1 or 2. Makes no sense.

Thanks in advance!
Pay it off. You need to get it off of your UTI%, or your scores will never recover.

Agreed.