topic Re: I'm 22 and need some advice in Rebuilding Your Credit

I'm 22 and need some advice

Anonymous — Tue, 24 Sep 2019 05:23:22 GMT

Hi everyone,
I need some advice on being able to take my credit seriously. I'm 22 and currently have a low score of 549 (Transunion) and 558 (Equifax) (Both pulled from Credit Karma). I'm looking into rebuilding. Currently have 3 collections; $306 from Credit Control Group, $621 from Portfolio Recovery, and $680 from Midland Funding. I also have 6 charge offs from being young and stupid at 18 and not knowing how to control my debt. Anything helps, thanks.

Re: I'm 22 and need some advice

AllZero — Tue, 24 Sep 2019 06:24:01 GMT

Welcome. You've come to the right community to get your credit health back in shape.

Do you have the finances to pay off the charge offs, collections?

Portfolio Recovery does Pay For Delete.

Re: I'm 22 and need some advice

Anonymous — Tue, 24 Sep 2019 08:16:42 GMT

^^^ agreed.

First step is to get your FICO scores. CK uses the VantageScore 3.0 model which isn’t used by lenders for credit decisions. Www.creditchecktotal.com gives a seven day trial for $1. Get them there, then cancel.

Midland will also delete themselves upon payment like Portfolio will, whether you pay in full or settle. Try and negotiate a lower amount that you’re prepared to pay that day, pay it, and within 30-45 days both will vanish as if they never existed. I do not know about the third collector but it’s worth trying.

Could you list the chargeoffs? Include who the original creditor was, the date of first delinquency, and the amount, and we can give you some info on how to proceed.

Welcome to the boards - you have found the best place on the internet for correcting your credit woes, I promise

Re: I'm 22 and need some advice

Anonymous — Thu, 26 Sep 2019 20:06:24 GMT

My chargeoffs are as follows
$1829 Best Buy/CBNA Closed 9/6/18
$1099 Wells Fargo Card Service Closed 6/7/18
$572 Bank of America Closed 8/22/17
$277 Curacao Closed 8/18/17
$0 Gamestop Closed 11/10/17 Bought out by Midland
$0 Synchrony Closed 6/12/17
I recently got a 2nd job to hopefully pay off the collections 1st

Re: I'm 22 and need some advice

Anonymous — Thu, 26 Sep 2019 20:14:57 GMT

Just pulled my scores and it's as follows
475 Experian
509 Equifax
488 Transunion

Re: I'm 22 and need some advice

AllZero — Fri, 27 Sep 2019 03:12:57 GMT

@Anonymous wrote:
My chargeoffs are as follows
$1829 Best Buy/CBNA Closed 9/6/18
$1099 Wells Fargo Card Service Closed 6/7/18
$572 Bank of America Closed 8/22/17
$277 Curacao Closed 8/18/17
$0 Gamestop Closed 11/10/17 Bought out by Midland
$0 Synchrony Closed 6/12/17
I recently got a 2nd job to hopefully pay off the collections 1st

The debt load appears to be manageable. Just come up with a plan and a budget. Perhaps, you can tackle the ones that will do PFD first. It'll give you motivation to keep cleaning up your credit report once your derogatory list gets smaller and smaller.