topic Re: Rebuilding credit from FAR bottom. in Rebuilding Your Credit

Rebuilding credit from FAR bottom.

Anonymous — Fri, 22 Dec 2017 18:53:25 GMT

Here is my story and I would love some imput from other memebers.

As of today 12/22/2017 my scores are 487 Equifax, 506 Tansunion,491 Experian

I have a Bk that was Discharged 7/2014

I have about 18 Collections (about 12 of them are payday loans, cox, and other bs) The rest are medical. I Just paid off about eveything that wasnt a medical collection. Everything else has been settled but not reported yet.

I was able to pay everything besides my medical debt. My medical debt is about $22,000

I have 2 paid off auto loans, a paid off credit card, and an open mor furniture account for $2500. These accounts do have some derogs.

I have send out PFD letters to every ceo email i cound find and am hoping most of these collections can fall off.

Obviously i dont have 22k to pay medical off right now. But i want to buy a house in the future and an curious to see how much my credit will go up after paying off all of these collections. Is there a good conpany for consiladiting mediacl debt?

Any advice would help. Thanks and Happy Holidays.

Re: Rebuilding credit from FAR bottom.

Adkins — Fri, 22 Dec 2017 21:14:51 GMT

Read through ABCD2199s rebuilding thread here in the forum - there's some solid information there. Paying off the collections will help, but not nearly as much as getting the collections completely removed from your reports. If you did not set up a PFD (pay for delete, where they delete the collection from your credit report upon being paid) with the CA, you're going to need a goodwill letter campaign (there's a good thread here in the forum) going to try & get your collections removed from you credit reports.

Re: Rebuilding credit from FAR bottom.

Anonymous — Fri, 22 Dec 2017 21:30:59 GMT

thank you sir. i have been sending out goodwill emails to ceo's and mail form as well. cant wait to see a credit increase!

Re: Rebuilding credit from FAR bottom.

Anonymous — Sat, 23 Dec 2017 06:13:09 GMT

I've had great success reaching out to CEO's via email. It does take time though, especially this time of year. One thing I do is try to work with the OC as much as possible, even if the account has been sold to a CA. They may tell you that there is nothing they can do once a debt has been sold, but they can, and sometimes they will make exceptions. Persistence is key, no matter if you are trying to work with the OC or a CA. A lot of times with medical debt, the OC may have programs you can get into that will help you settle these with them directly. Definitely reach out to them and see if any exist.

Re: Rebuilding credit from FAR bottom.

Anonymous — Sun, 24 Dec 2017 01:49:59 GMT

Medical has some interesting twists. If the medical is for emergency room and the provider is a NON Profit hospital you can explain 1) no insurance 2) limited income 3) ask for charity write off 4) if they say no to #3 they may take huge mark down and let you pay over time. it is their call. But Non profits are required to take xx % of non profit charge off , you could be the xx %. For profit hospitals and doctors usally will still give large mark down to collect rather than get -0- in bk.

When Dw has major emergency her medical bills were around 1 million dollars. Her co pay and deduct were around $100K. Insurance covered rest. The hospital realized from a financial view point we could not pay this in a reasonable time and pay for follow up treatments. The deal we made if she made all the follow up treatment payments for 6 years at $6K per year after insurance (give or take) they would drop entire amount and it would only report on cr if she missed paying her follow up treatments. They were super nice.

Re: Rebuilding credit from FAR bottom.

Anonymous — Sun, 24 Dec 2017 02:32:37 GMT

thanks for the reply im gonna look into that

Re: Rebuilding credit from FAR bottom.

Anonymous — Sun, 24 Dec 2017 04:25:12 GMT

Good luck. The NON profits have to take so many charity write offs but not every one so you need to present your case well. The for profits will take a limited number of charity cases but its their own rules. As a side note one of dw doctors liked her and said whatever the insurance paid for treatments was fine. His billing office was not always nice and we had to show where he had ofered that. His nice deed saved over $5K.

Re: Rebuilding credit from FAR bottom.

Anonymous — Sun, 24 Dec 2017 14:39:32 GMT

How recent are all of the collections?

Re: Rebuilding credit from FAR bottom.

MrTom — Sun, 24 Dec 2017 15:17:40 GMT

Payday loans report to credit reports?

You should talk with someone fluent with credit law. When I hear payday loans, I think of all the internet companies. They use the loophole that their office is on tribal land, and tribal law applies. That is why they can still charge more then what the payday loan law allows. You still owe the loan money either way, but if my thoughts above are true it makes me think: "Can they payday company legally report this debt?". because in theory, its not on US land and does not operate by US laws, so why are thye using US Consumer's reports for their dirty laundry.

Other then that, keep your UTL real low and keep working those collections. It will be alotof work, but you'll seeing 700s in 2018 if you keep it up.

Re: Rebuilding credit from FAR bottom.

Anonymous — Wed, 27 Dec 2017 18:36:30 GMT

I had a paydal loan from dollar loan center and paycheck advance, did a pay for delete on both, just now playing the waiting game of waiting for stuff to fall off.

I did notice that i have 2 cap one cards from 2016 that are somehow still in my revolving accounts and not in collections that I need to settle.

I am wondering why they never sent them to collections and are still showing in my "revolving accounts"

Re: Rebuilding credit from FAR bottom.

Adkins — Wed, 27 Dec 2017 18:46:18 GMT

@Anonymous wrote:
I had a paydal loan from dollar loan center and paycheck advance, did a pay for delete on both, just now playing the waiting game of waiting for stuff to fall off.

I did notice that i have 2 cap one cards from 2016 that are somehow still in my revolving accounts and not in collections that I need to settle.

I am wondering why they never sent them to collections and are still showing in my "revolving accounts"

They might still be in their "in house" recovery/collection unit - I'd call them ASAP to make sure they don't move to actual collection status.

Re: Rebuilding credit from FAR bottom.

Anonymous — Wed, 27 Dec 2017 20:19:46 GMT

@Anonymous wrote:
I had a paydal loan from dollar loan center and paycheck advance, did a pay for delete on both, just now playing the waiting game of waiting for stuff to fall off.

I did notice that i have 2 cap one cards from 2016 that are somehow still in my revolving accounts and not in collections that I need to settle.

I am wondering why they never sent them to collections and are still showing in my "revolving accounts"

"moving to collections" simply adds another derog on top of whats already there. It will still show up in your revolving accounts.