topic Re: rebuilding starting from the bottom in Rebuilding Your Credit

rebuilding starting from the bottom

johnosonc — Fri, 09 Oct 2015 10:14:56 GMT

So I've monitoring these forums for a while, but now I'll ask for help. My marriage is in a terrible place due to finances. My wife has asked to split finances and has done it. now we are paying things seperately. This is where my credit is and I want to know the quickest way to 700 scores.

110,000 student loans still in deferment

225,000 mortgage loan, 17 lates, almost foreclosed, but recovered with job bonus. Paid on time 12 months since 10/2014

135000 mortgage loan forclosed in 8/2013

8000 judgement from EFedcredit union for charged off credit cards ( nothing paid yet) since 10/2014 ) My credit card is reporting as a Charge Off but every month and I think this is also dragging my score???

1200 BarclayVisa paid on time since 3/2011

23 other credit accounts with spotty lates here and there. Now all current and on time

12000 balances on credit cards, all maxed out (plan to pay off in the next 30 days with bonus from work) will keep zero balances after that.

4 medical collections totaling 4000 with the most recent being October 2014. Where do I start and what do I do? Is it realistic to get to 700 in a yea

FICO 8 scores 600 transunion 586 EQ 608EXP

Re: rebuilding starting from the bottom

lesse — Fri, 09 Oct 2015 11:47:35 GMT

hello

I think once you pay off those maxed cards you will get a NICE jump .. i think i waiver like 40-50 points based off utilization maybe more or less all depends...

I will definitely work on trying to get some of those lates removed.. sometimes just asking works..

Also try to PFD those collection.. those will give you a nice score boost once they are DELETED not paid but Deleted

For the judgement there is a specific process to that.. i would search judgements on the board and try to get some more info

As far as 700 scores.. i have NO lates, no collections and no chargeoffs and i am JUST getting to 700s it took me about 2 years and change to get here.. is it possible yes but you need to be persistent in getting those lates removed and collections removed and get your util to a 1-9% for max scoring purposes.

Hope this helps and GOOD LUCK

Re: rebuilding starting from the bottom

gdale6 — Fri, 09 Oct 2015 15:53:12 GMT

For unpaid medical debt that is reporting on your CR:

1. Call the OC and see if you qualify for Charity Care
2. If not then ask that they recall the collection in exchange for full payment
3. Send the reporting CA a PFD offer
4. Google the HIPAA Process and contact its creator for help

Re: rebuilding starting from the bottom

johnosonc — Sat, 10 Oct 2015 10:27:47 GMT

Thanks for the feedback. I will update everyone on the score bump I get when I get my utilization down. Anyone have any more info on the judgement it would be greatly appreciated.

Re: rebuilding starting from the bottom

Anonymous — Sat, 10 Oct 2015 12:05:14 GMT

Good Luck! I am just starting too.

Re: rebuilding starting from the bottom

gdale6 — Sat, 10 Oct 2015 16:35:35 GMT

@johnosonc wrote:
Thanks for the feedback. I will update everyone on the score bump I get when I get my utilization down. Anyone have any more info on the judgement it would be greatly appreciated.

Sorry, forgot to include the judgment in my first post. In order for it to be removed from your CR it has to be vacated and only a judge can do that. In some states you can file said motion yourself (on grounds its been paid) in others you would have to get the judgment creditor to file the motion on your behalf once its been paid. You can look up the reasons a judgment can be vacated in the laws that govern the civil court system in the state the judgment was granted. I would be working with the judgment creditor to get it resolved ASAP. Good luck

Re: rebuilding starting from the bottom

johnosonc — Sat, 10 Oct 2015 23:40:36 GMT

Yes the judgement credit has the account with an attorney and he will only accept the payment in full and will not file to vacate the judgement. He is saying he will update it as a paid judgement. The judgement is in Louisiana so I'm not sure if I can file to vacate it on my own, but I certainly am praying that will work. I'm going to pay it this month regardless.

Re: rebuilding starting from the bottom

johnosonc — Sat, 17 Oct 2015 21:53:58 GMT

So here is an update. i paid my judgement this week, and paid down all my credit cards. Sad thing is they al just reported to the credit bureau this last week so i have to wait a full month before i start to see what the affects will be on my scores. A couple of questions. Any tricks to getting capital one, discover, navy federal, or barclaycard to update my reports sooner than the next statement? Also, what else can i do, the score simulator is telling me will all my credit cards paid in full i still would only get at max a 655 score across all accounts. but i want to see 700s before christmas? any ideas? Judgement will just be marked as paid not removed. And the charge off will likely be marked as paid as well. i have no lates since february of 2015 so that's 8 months, and best buy is refusing to remove that 30 day late. All of the other baddies something like 30 between mortgage and card lates were prior to july 2014. Any help would be appreciated.

Scores as of today;

607 EXP
613 Transunion

598 Equifax