topic Re: help !! what to do with this? in Rebuilding Your Credit

help !! what to do with this?

Anonymous — Thu, 26 Feb 2009 15:34:05 GMT

could some one tell me what to do with this as i dont want to mess it up which ones should i dv, pfd, etc. please help me please .

first preimer bank

balance $446 credit limit $300 high balance $446 date open 09-2006

balance date 12-2007 terms revolving acct. owner indiv. past due $446

first bk of de/contine

balance $ 634 credit limit $300 high balance $634 date open 08-2007

balance date 02-2008 terms revoling acct. owner indiv. past due $ 634

verizon

balance $185 high balance n/a date open 08-2006

balance date 10-2008 terms 1 month acct. owner indiv. past due $185

verizon

balance $93 high balance n/a date open 04-2006

balance date 10-2008 terms 1 month acct. owner indiv. past due $93

verizon

balance $181 high balance n/a date open 08-2006

balance date 10-2008 terms 1 month acct. owner indiv. past due $181

jefferson capital

balance $435 high balance n/a date open 10-2008

balance date 01-2009 terms 1 month acct. owner indiv. past due $435

rjm acq llc

balance $280 high balance n/a date open 03-2007

balance date 01-2009 terms 1 month acct. owner indiv. past due $280

central credit / penn cr

balance $3071 high balance n/a date open 09-2008

balance date 12-2008 terms 1 month acct. owner indiv. past due $3071

enhanced recovery corp.

balance $174 high balance n/a date open 08-2007

balance date 09-2007 terms 1 month acct. owner indiv. past due $174

credit protection asso

balance $389 high balance n/a date open 02-2007

balance date 08-2007 terms unknown acct. owner indiv. past due $389

powell rogers & speaks

balance $130 high balance n/a date open 10-2006

balance date 03-2007 terms 1 month acct. owner indiv. past due $130

central credit / penn cr

balance $3098 high balance n/a date open 12-2005

balance date 01-2007 terms 1 month acct. owner indiv. past due $3098

apex asset management

balance $50 high balance $50 date open 09-2003

balance date 05-2008 terms 1 month acct. owner indiv. past due $50

apex asset management

balance $0 high balance $ 274 date open 07-2003

balance date 03-2003 terms 1 month acct. owner indiv. past due n/a

credit solutions corp.

balance $634 high balance n/a date open 02-2008

balance date 01-2009 terms 1 month acct. owner indiv. past due $634

apex asset management

balance $101 high balance $367 date open 07-2003

balance date 07-2006 terms 1 month acct. owner indiv. past due $101

dakota state bank

balance $429 high balance $429 credit limit $300 date open 08-2007

balance date terms acct. owner indiv. past due $n/a

roi services , inc.

balance $0 high balance $0 credit limit $0 date open 11-2002

balance date terms retail returned check acct. owner indiv. past due $n/a

*this say in bankruptcy *

public record

judgement (magistrate) (old rent)

date filed 11-2004 date reported 11-2004 amount $414

bankruptcy (chapter - 7) (discharged)

date filed 11-2002 date reported 03-2003 amount $ n/a

Re: help !! what to do with this?

BungalowMo — Thu, 26 Feb 2009 15:50:19 GMT

First thing you need to find out is the DOFD for each of these accounts.

That would be Date of First Delinquency. This date can be found on a report purchased directly from any of the 3 CRA's.

Where did this info above come from? Is it on all 3, or is this a compilation of the 3? Is this from an actual EX, TU or EQ report?

Different debts need to be handled differently.

Re: help !! what to do with this?

Anonymous — Thu, 26 Feb 2009 15:56:58 GMT

this was from annual credit report.

and this is from all three reports .

Re: help !! what to do with this?

BungalowMo — Thu, 26 Feb 2009 16:06:20 GMT

Ok, so you got the 3 free thru annual cr. rpt. That's good.

Take a look on your Equifax report & you'll see DOFD. DOFD...add 7 to 7.5 yrs and that is when these will be removed.

On the other 2 (EX & TU) it will have a line that says something like "This acct due to be removed by mo/year"

Get out your highlighter & give it a swipe. Those dates and actual $$ amounts due will determine which ones need attention right away.

If you can, copy those tradelines you posted with the dates they're due to drop off and repost them here. If the same acct appears on more than 1 report, make sure that those drop off dates are within 1 month of each other. (some may report "june" while another might say "july"...no big deal.)

Re: help !! what to do with this?

Anonymous — Thu, 26 Feb 2009 16:40:17 GMT

first preimer bank off aug 2013

balance $446 credit limit $300 high balance $446 date open 09-2006

balance date 12-2007 terms revolving acct. owner indiv. past due $446

first bk of de/contine off aug 2014

balance $ 634 credit limit $300 high balance $634 date open 08-2007

balance date 02-2008 terms revoling acct. owner indiv. past due $ 634

verizon off jun. 2013

balance $185 high balance n/a date open 08-2006

balance date 10-2008 terms 1 month acct. owner indiv. past due $185

verizon off may 2013

balance $93 high balance n/a date open 04-2006

balance date 10-2008 terms 1 month acct. owner indiv. past due $93

verizon off jun 2013

balance $181 high balance n/a date open 08-2006

balance date 10-2008 terms 1 month acct. owner indiv. past due $181

jefferson capital off mar. 2014

balance $435 high balance n/a date open 10-2008

balance date 01-2009 terms 1 month acct. owner indiv. past due $435

rjm acq llc off jan. 2013

balance $280 high balance n/a date open 03-2007

balance date 01-2009 terms 1 month acct. owner indiv. past due $280

central credit / penn cr off sept. 2014

balance $3071 high balance n/a date open 09-2008

balance date 12-2008 terms 1 month acct. owner indiv. past due $3071

enhanced recovery corp. off feb. 2013

balance $174 high balance n/a date open 08-2007

balance date 09-2007 terms 1 month acct. owner indiv. past due $174

credit protection asso off may 2013

balance $389 high balance n/a date open 02-2007

balance date 08-2007 terms unknown acct. owner indiv. past due $389

powell rogers & speaks off mar 2013

balance $130 high balance n/a date open 10-2006

balance date 03-2007 terms 1 month acct. owner indiv. past due $130

central credit / penn cr off jun. 2011

balance $3098 high balance n/a date open 12-2005

balance date 01-2007 terms 1 month acct. owner indiv. past due $3098

apex asset management off nov. 2009

balance $50 high balance $50 date open 09-2003

balance date 05-2008 terms 1 month acct. owner indiv. past due $50

apex asset management off feb. 2010

balance $0 high balance $ 274 date open 07-2003

balance date 03-2003 terms 1 month acct. owner indiv. past due n/a

credit solutions corp. off jun. 2014

balance $634 high balance n/a date open 02-2008

balance date 01-2009 terms 1 month acct. owner indiv. past due $634

apex asset management off nov. 2009

balance $101 high balance $367 date open 07-2003

balance date 07-2006 terms 1 month acct. owner indiv. past due $101

dakota state bank off aug 2014

balance $429 high balance $429 credit limit $300 date open 08-2007

balance date terms acct. owner indiv. past due $n/a

roi services , inc. off aug. 2009

balance $0 high balance $0 credit limit $0 date open 11-2002

balance date terms retail returned check acct. owner indiv. past due $n/a

*this say in bankruptcy *

public record

judgement (magistrate) (old rent) off nov. 2011

date filed 11-2004 date reported 11-2004 amount $414

bankruptcy (chapter - 7) (discharged) off . 2012

date filed 11-2002 date reported 03-2003 amount $ n/a

Re: help !! what to do with this?

Anonymous — Thu, 26 Feb 2009 18:22:40 GMT

ok bungalowmo can you help or someone anyone please help me

Re: help !! what to do with this?

BungalowMo — Thu, 26 Feb 2009 18:56:10 GMT

Ok...whew, well you've got a handful here to attack, but it's not impossible.

First, on these 3:

verizon off jun. 2013

balance $185 high balance n/a date open 08-2006
past due $185

verizon off may 2013

balance $93 high balance n/a date open 04-2006
past due $93

verizon off jun 2013

balance $181 high balance n/a date open 08-2006
past due $181

Do you have the cash to pay these 3 in full...now? If so I would send them a PFD (sort of) letter for all 3. *Include all 3 acct #'s & totals, etc. Let them know you can send them a MO or Cashiers Check for the full amount owed for their deleting the NEG info. It would be nice if they could keep the acct so it will help with your aging. Either way, delete bad info or entire acct info if they must. If you can't pay it all right now, ask if you can make payments & as these are paid up, they remove negatives from accts.

Next....are these 2 still with the OC & not with CA?

first preimer bank off aug 2013

balance $446 credit limit $300 high balance $446 date open 09-2006
past due $446

first bk of de/contine off aug 2014
balance $ 634 credit limit $300 high balance $634 date open 08-2007

past due $ 634

If these accts are still with the bank, call them and apologize all over the place...sob sob, and ask if you can set up a payment plan with them toget these in the clear. Request that they consider removing negative info maybe at the halfway point in the repayment process. This shows them you want to pay & aren't expecting them to give you something before you deserve it.

Next are these:

rjm acq llc off jan. 2013

balance $280 high balance n/a date open 03-2007

past due $280

enhanced recovery corp. off feb. 2013

balance $174 high balance n/a date open 08-2007
past due $174

I'm putting these 2 together..... These are both due to come off about the same time, but more important, they are both fairly low balances that you might be able to take care of in just a few months. Send them both a DV letter to begin with. if they are both validated, then go with a PFD letter. Tell them you got into a bit of a jam a while back & want to make things right...bla bla.

This ought to keep ya busy for a couple days. Remember....make copies of everything you send out! Keep meticulous records of all correspondance & maybe even keep a calendar handy with all this info & make notes on when things were mailed, when you heard back....when things got REMOVED!!!

Much of what I have suggested I learned here by reading others posts. I didn't have much beyond a handful of GW letters for my baddies, but much of the other info sunk in. You may also get info from others where I made a misstep, but I'm fairly certain that I'm getting you in the right direction.

See how much $$ you have to put towards this & begin working with those who want to work with you and have put their GOOD intentions in writing!!

Good luck & keep us posted!

Re: help !! what to do with this?

Anonymous — Thu, 26 Feb 2009 19:07:36 GMT

what about thr rest of them ? i have the money to ay all of them but i need to know if i should pfd them dv or what i should do for them all if you dont mind . i know its alot but . i would live the help . thank you

Re: help !! what to do with this?

BungalowMo — Thu, 26 Feb 2009 19:20:27 GMT

Ok...I will get to those asap, but I'm at work & gotta be careful.

On the rest of the list...start with the ones in collections & send them DV letters. If they can't validate, they MUST remove it by law.

Remember...make copies for yourself on everything & on the dv letters, never sign them, type only & send them CMRRR.

Message Edited by BungalowMo on 02-26-2009 02:20 PM

Re: help !! what to do with this?

Anonymous — Thu, 26 Feb 2009 19:18:45 GMT

Personally, if you're looking to buy a home ASAP, I'd not touch a single one of them UNLESS you could, in fact, get a PFD.

You still haven't mentioned what your actual FICO scores are. That's a big necessity in deciding what you should touch and what you shouldn't.

I say that because all of those uglies look to be at least 2 years old (if not, holler) -- and FHA isn't going to make you touch those (except for public records/judgments, of course -- those will HAVE to be paid. But I'd arrange to pay them at the closing table so they don't ding your score NOW).

Also, again, what kind of down payment do you have? Your income? Your debts (not including the ones for collections)?

I understand that you want to buy a house and how important it is to you ... but if you want advice geared towards polishing your credit to BUY a house, we need those answers. Since we don't know your scores, we can't tell you what to do (again, to have your credit in order enough to buy a house)!

I CAN tell you that if you start poking these sleeping dragons and are hoping to apply for a mortgage within the next six months, you can more than likely forget it. Once you start approaching them with PFDs, they'll start updating their entries with the CRAs (making them look "new" to FICO and dinging your scores), or start filing lawsuits if they can.

Unless your scores are NOW in the 700s, you'll be looking at a denial -- since when those updates hit, you'll see a crash of at least 50-60 points (at least).

Talk to us!

Re: help !! what to do with this?

BungalowMo — Thu, 26 Feb 2009 19:22:14 GMT

There ya go...the more info the better. I canhelp, but I certainly don't know it all.... thx wonderin

Re: help !! what to do with this?

Anonymous — Thu, 26 Feb 2009 19:27:21 GMT

Yeah, ordinarily your advice would be PERFECT. Except that she mentioned in *another* thread that she wants to buy a house soon (I read it as ASAP). Regular credit repair doesn't always apply in those situations!

"Regular" credit repair is best done about 6-8 months before buying a house. Too soon and it just drags your scores down whilst your repairing, and they take some time to rebound!

But like I said, Mo, you're AWESOME and gave GREAT advice! You just didn't have all the facts. :/

Anywho, how's doings with you, Mo?!

OP: I'm not dinging you with those comments above!

I am saying, though, that you need to give us the skinny on what your situation is. Credit repair to buy a house is NOT the same as credit repair to get a credit card. Lenders have different standards and different guidelines on what they'll accept -- and what they'll NOT.

Re: help !! what to do with this?

BungalowMo — Thu, 26 Feb 2009 19:41:38 GMT

Awww, shucks wonderin! Thanks for the props! I do try to help where I can. After working on mine for a long time, I know this site has certainly been my saving grace.

The collection of information you can gather here is amazing!

BTW...I'm doin good...might be lookin for a new job soon... (not really sure how I feel about that!)

Ok...now back to our regularly scheduled OP with the credit questions!

Re: help !! what to do with this?

Anonymous — Thu, 26 Feb 2009 19:42:27 GMT

yes my scores are on this date 01/18/2009

efx- 504 (beacon)

tru - 479 (classic score )

xpn - 503 (fair isaac score )

a bank pulled them .

i was looking at home loan of 60,000.00

and down payment of 7,000.00

i have the income of 22,000.00 a year

i have a car loan payments of 391.00

still owe 9,446.00 out of 14,049 had loan since 10-2007

i was looking to buy in about 5 months

Re: help !! what to do with this?

BungalowMo — Thu, 26 Feb 2009 19:52:13 GMT

That's interesting, because I remember when I was looking to buy, the mtg company I was dealing with pulled those too. They aren't all FICOs, but it's what that bank used.

Did they give you your full printout of the reports? VERY informative! A little different from what we see.

Re: help !! what to do with this?

Anonymous — Thu, 26 Feb 2009 20:12:24 GMT

no it is just the scores .

Re: help !! what to do with this?

Junejer — Thu, 26 Feb 2009 20:33:00 GMT

BungalowMo wrote:

That's interesting, because I remember when I was looking to buy, the mtg company I was dealing with pulled those too. They aren't all FICOs, but it's what that bank used.

Did they give you your full printout of the reports? VERY informative! A little different from what we see.

Hey Bungalow, FYI, those are all FICO scores.

Equifax uses the Beacon 5.0 version of FICO
Trans Union uses the Emperica Classic ('98 or '04) version of FICO
Experian just calls theirs FICO version 2.0

Just an FYI

Re: help !! what to do with this?

Anonymous — Thu, 26 Feb 2009 21:26:07 GMT

Okay, so far, the first things that smack me in the head are that you have several Verizon tradelines reporting what *seems* to be the same debt. Are there THREE on the same report? Or just a listed version of what each CRA has? Same with "Central Credit/Penn CR" .... what is that? Why only 1 month terms??

Second thing I see is that you have several CC (or what seem to be CCs) charge-offs. Those are still figuring into your utilization (FICO sees you as having maxxed out credit - FICO *HATES* that). Believe it or not, you pay those off, you'll see some sort of increase (despite the fact that FICO will see them as "new" it will lower your utilization considerably).

Third is that several of those bastiges seem to be updating your CRs (either that or you disputed them). I saw a couple of debts from 2006 that were updated just a few months ago. That's helping to ding your score (since, again, FICO sees them as being "new" ).

Can you group everything together by creditor? It'll be easier for old eyes like mine to know what I'm seeing. Sort of like this:

Verizon (OC)
$50

Credit Acceptance (CA collecting for Verizon)
$50

... I say that because it's possible that you might have duplicates on your CR, but unless we can tell what OC that account originated with, we won't be able to tell!

Re: help !! what to do with this?

Anonymous — Thu, 26 Feb 2009 21:56:36 GMT

there are 3different verizon debts.

not sure about this as i dont have it list i dont think i will double check .

Credit Acceptance (CA collecting for Verizon)
$50

Re: help !! what to do with this?

Anonymous — Fri, 27 Feb 2009 13:41:50 GMT

hey wonderin not sure where this came from

Credit Acceptance (CA collecting for Verizon)
$50