topic Re: Journaling My Rebuild in Rebuilding Your Credit

Journaling My Rebuild

Anonymous — Fri, 08 May 2020 01:58:36 GMT

I wanted to start a thread to journal my rebuild. Currently I have a few things that I need to work on, 3 charge off accounts; 3-4 collections and late payments that I would like to have removed through GW.

Starting scores on 5/8/2020

EX -565

EQ-572

TU-584

Goal Score: 700

Goal cards: Amex Optima, NFCU Go Rewards, Discover It,

Loans

Sunrise Self Lender: never late

Mohela: 12 late payments

Navient: 4 late payments

Honda Financial-11 late payments

4 Charge Off Accounts

Synchrony Charge off: 1600/1780; paid on 4/27

Merrick Bank Charge off: 750/1043: paid on 4/30

Amex Charge Off: 1000/756: paid on 4/30

Capital One charge off ; paid in 2019

Active Accounts

-Citibank AU: 1820/2000; account has a 30 and 60 day late from 2019; removed myself as an AU on 5/5

-Home Depot AU 500/287: 1 30-day late from 2019; removed myself as an AU on 5/4

-Fingerhut: 300/0-new card

-Comenity Bank VS 100/0

-NFCU Go rewards; 1000/0-new card, not reporting yet

Collections
Verizon Wireless: 714.00

Medical Data systems: 760.00

Convergent/Sprint: 1477.00

Inquiries

Plan for May

-Goodwill Amex, Merrick and Synchrony Bank

-Continue Goodwill campaign for Honda late payments

-Work on collection accounts PFD

-Continue to stay in garden for 6 months to a year (unless I get the optima application)

On 5/6/20

My Equifax increased by 23 points, I believe this was from decreased utilization on the Citicard that I was an AU on, since the balance went from 1832.00 to 1032.00 ,which brought it down to 51% utilization. I removed myself as an AU after this was reported, hopefully, I don’t take too much of a hit when it updates as removed.

Currently waiting on my paid/settled charge offs to report as paid, once it updates I will document any changes to my scores. I also sent a dispute for a collection that was inaccurate on my reports.

Current Scores as of today

EX 567

EQ 595

TU 580

Re: Journaling My Rebuild

Anonymous — Fri, 08 May 2020 02:10:37 GMT

@Anonymous wrote:
I wanted to start a thread to journal my rebuild. Currently I have a few things that I need to work on, 3 charge off accounts; 3-4 collections and late payments that I would like to have removed through GW.

Starting scores on 5/8/2020
EX -565
EQ-572
TU-584

Goal Score: 700
Goal cards: Amex Optima, NFCU Go Rewards, Discover It,

Loans
Sunrise Self Lender: never late
Mohela: 12 late payments
Navient: 4 late payments
Honda Financial-11 late payments

4 Charge Off Accounts
Synchrony Charge off: 1600/1780; paid on 4/27
Merrick Bank Charge off: 750/1043: paid on 4/30
Amex Charge Off: 1000/756: paid on 4/30
Capital One charge off ; paid in 2019

Active Accounts

-Citibank AU: 1820/2000; account has a 30 and 60 day late from 2019; removed myself as an AU on 5/5
-Home Depot AU 500/287: 1 30-day late from 2019; removed myself as an AU on 5/4
-Fingerhut: 300/0-new card
-Comenity Bank VS 100/0
-NFCU Go rewards; 1000/0-new card, not reporting yet

Collections
Verizon Wireless: 714.00
Medical Data systems: 760.00
Convergent/Sprint: 1477.00

Inquiries
5

Plan for May
-Goodwill Amex, Merrick and Synchrony Bank
-Continue Goodwill campaign for Honda late payments
-Work on collection accounts PFD
-Continue to stay in garden for 6 months to a year (unless I get the optima application)

On 5/6/20
My Equifax increased by 23 points, I believe this was from decreased utilization on the Citicard that I was an AU on, since the balance went from 1832.00 to 1032.00 ,which brought it down to 51% utilization. I removed myself as an AU after this was reported, hopefully, I don’t take too much of a hit when it updates as removed.
Currently waiting on my paid/settled charge offs to report as paid, once it updates I will document any changes to my scores. I also sent a dispute for a collection that was inaccurate on my reports.

Current Scores as of today
EX 567
EQ 595
TU 580

Congrats on making and tracking progress with your rebuild!

I do the same so that I can see my progress and results, so when things aren't moving as quickly as I'd like, I can see how far I have already come and to not get discouraged.

Looks like you have a good plan. Getfing off those AU accounts and paying off those COs should start yielding results. Now that your utilization will have gone down and final updates are made on thise COs, your scores can start to heal some.

Cell companies can be tough cookies to get catch a break with for PFD. I managed to do as much with Sprint recently, but a different CA that shut down, so I caught a break. Don't give up, though, you may be able to convince them to recall the CA in exchange for paying them. Maybe face to face would be good way to do that in one of the stores. You could likely accomplish the same with the medical collection.

There's some great and helpful people on here that will help guide you along the way and I look forward to watching your success on your journey!

Good luck!

Re: Journaling My Rebuild

Anonymous — Sat, 09 May 2020 11:19:17 GMT

Thank you @Anonymous , hopefully I will have the same luck as you did with Sprint. Good luck on your journey as well!! Hopefully we can all be successful in reaching our credit goals!!

Re: Journaling My Rebuild

Anonymous — Sat, 09 May 2020 11:28:42 GMT

Merrick bank updated the paid charge off with TU and EX. I have memberships for all CRA's. I didn't see a significant increase in score, just a point or two. I thought it would have been more than that. Now I am just waiting for the remaining two paid charge off's to update.

I've been using my NFCU Go Rewards CC and paying after each use. I called yesterday to see when the statement cuts and she told me that my billing cycle ends on the 14th. I want to be sure that when they report, they dont report a balance, however, the account hasn't reported on any of my reports, so just wondering when the new account will show up.

Re: Journaling My Rebuild

BmoreBull — Sat, 09 May 2020 16:16:52 GMT

Congrats on your improvements and progress so far. Not far now from the 600's and before you know it you will be there. Good luck on your journey.

Re: Journaling My Rebuild

Anonymous — Sat, 09 May 2020 20:09:16 GMT

Making some progress! So my EQ increased by 23 points two days ago! Today I recieved a notice today that my FICO TU increased 19 points!!! When I looked it said that I had an account improvment and my debt decreased by $945.00. Experian continues to lag behind, even though the Merrick Charge off updated with them a day or so. Hoping they give me some fico score improvement. I am really happy because I was thinking yesterday that paying a charge off didn't make a big enough impact score wise, but it did.

Now, I have two more charge off's that I paid and am waiting for them to update as well!!

My udated scores

TU 599

EQ 595

EX 572

Re: Journaling My Rebuild

Anonymous — Sat, 09 May 2020 20:09:48 GMT

Thank you! @BmoreBull

Re: Journaling My Rebuild

Anonymous — Mon, 11 May 2020 18:35:49 GMT

I had a collection company appear on my credit report. The CA is Sunrise Credit Services, they appear and re-appear every other month or so. I called them today, spoke with a representative, he informed that they do not do PFD. The original creditor is ATT mobile and the bill is for $607.00. They offered to settle for $485.00, wondering if this is a good amount to settle for.

Re: Journaling My Rebuild

BmoreBull — Mon, 11 May 2020 18:56:12 GMT

Do you know how old the original account is and when it is due to fall off ? If it’s updating every month or even just renewing itself ever so often, it’s definitely dinging your scores. And it’s also the CA doing it intentionally to ding your scores, one of the games they play. I would honestly see if they could go down a little further. Is the original account from ATT still on your report? If so does it show a balance or just 0 and charged off?

Re: Journaling My Rebuild

Anonymous — Mon, 11 May 2020 19:08:22 GMT

@BmoreBull wrote:
Do you know how old the original account is and when it is due to fall off ? If it’s updating every month or even just renewing itself ever so often, it’s definitely dinging your scores. And it’s also the CA doing it intentionally to ding your scores, one of the games they play. I would honestly see if they could go down a little further. Is the original account from ATT still on your report? If so does it show a balance or just 0 and charged off?

Hi @BmoreBull, the original account was with ATT and it's about 1 year old. The OC (ATT) is not listed on my reports at all in anyway, it's just the CA, they placed themselves on my account again this month after they removed themselves for two months. So every few months it's like I have a new collection. I think the settlement offer is too high, I am going to see if they can come down.

Re: Journaling My Rebuild

BmoreBull — Mon, 11 May 2020 19:16:42 GMT

@Anonymous wrote:
@BmoreBull wrote:
Do you know how old the original account is and when it is due to fall off ? If it’s updating every month or even just renewing itself ever so often, it’s definitely dinging your scores. And it’s also the CA doing it intentionally to ding your scores, one of the games they play. I would honestly see if they could go down a little further. Is the original account from ATT still on your report? If so does it show a balance or just 0 and charged off?
Hi @BmoreBull, the original account was with ATT and it's about 1 year old. The OC (ATT) is not listed on my reports at all in anyway, it's just the CA, they placed themselves on my account again this month after they removed themselves for two months. So every few months it's like I have a new collection. I think the settlement offer is too high, I am going to see if they can come down.

I would also check with ATT to see if they still own the debt. They usually sell these things for pennies on the dollar , so they may be willing to offer you a settlement for less and recall the CA. Just a thought. Good luck.

Re: Journaling My Rebuild

Anonymous — Thu, 14 May 2020 21:56:46 GMT

I took myself off as an AU on citicard, score dropped by 9 pts. on TU. I am waiting to see what EQ does. Sucks, cause those 9 points are life when your trying to rebuild, lol.

Still waiting on the charge off's to update on my reports. THe only one that has updated so far was Merrick Bank. Amex and Synchrony are still showing as charge offs with balances, with 79-99% utilization being reported. Hopefully, will recieve a nice score bump when they update.

NFCU cash rewards has not updated to my reports as of today. I wonder what is taking so long, anyhow, I have been using the card and paying it off as I go, I dont want any surprises when it comes to reporting a balance. I would like the balance to be reported as zero for the first month.

I made a settlement with a Sprint collection, being handled by Source Recievables Collection Agency. Agreed to pay in full if they do not place on report. My first payment with them was today, I have two more payments to make (they gave me 3 months to pay it off).

Re: Journaling My Rebuild

Anonymous — Tue, 26 May 2020 14:02:05 GMT

I just wanted to report that another Charge Off account updated as settled and it boosted my EX 34 points! EQ and TU have not updated yet, but I am so excited because EX is and has been my lowest score for a long while, however, it's now it my highest score at the moment. I went from 572 to 606, just for the synchrony co reporting as settled. Patiently waiting for the other two CA's to update the account. Also waiting on Amex to report as PIF.

In other news, NFCU CC still has not reported to the CA's. Ive read that it will report after the 2nd statement which will post in the next two weeks or so.

Fingers crossed, hopefully my scores will keep climbing!

Re: Journaling My Rebuild

Anonymous — Tue, 26 May 2020 14:17:22 GMT

Ok so, I just checked TU site and my score on there went from 591 to 614, due to sychrony CO reporting as settled. However, my FICO didnt update with TU Fico scores, only my EX Fico score updated today. I wonder why? Shouldnt all 3 update if they have been updated?

Re: Journaling My Rebuild

Anonymous — Wed, 27 May 2020 18:28:50 GMT

Amex updated with Experian only today, recieved another increase of 12 points according to my Experian, experian is currently at 618. That's a total of 46 points in the last 24 hours. Hopefully, my Fico scores will update soon.

Re: Journaling My Rebuild

Anonymous — Wed, 27 May 2020 23:15:13 GMT

So with all of the updating, EQ Fico score dropped, due to the CO account being dormant. Hoping to see a recovery soon.

Re: Journaling My Rebuild

Anonymous — Thu, 28 May 2020 17:30:31 GMT

Update to FICO scores

Synchrony CO updated on EQ, lost 8 points on FICO--595 to 587

Amex CO updated on EQ, lost an additional 5 points on FICO--587 to 582

Synchrony CO updated onTransunion gained 2 points on FICO--587 to 589

Re: Journaling My Rebuild

Anonymous — Thu, 11 Jun 2020 23:34:21 GMT

June 11th UPDATE

Fico Scores as of 6/8/20

EQ: 587

TU: 586

EX: 621

Although all of my paid charge off’s have been paid and reflect zero, Equifax is the only one that still shows a balance on the Merrick Bank Charge off, which was paid over a month ago. I wrote a letter to them disputing the amount and mailed it off yesterday. I’m not sure why they are lagging behind when everything else updated. Hopefully, they will update the balance to zero.

I was surprised by my utilization with my self lender credit card. Last month was the first month that they reported and they showed $25.00 balance. My CL is $125 so that put me at 20% utilization. This month, I put 2.00 on the card and it reported as 1% utilization, but my FICO score did not change. I thought that I would see a boost being as though I crossed a UTI threshold, but nothing. Here is the alert below:

FICO® SCORE CHANGE
621Your score has not changed since 06/08/2020
Your score may be affected by additional information in your credit report - learn more.
View score history
DETAILS
COMPANY NAME
LEAD BANK
UTILIZATION PERCENTAGE
20%1%
BALANCE AMOUNT
$25.00 $2.00
What does this mean?
Dispute this change

In other news, NFCU card still has not reported, but I am only approaching my 2nd statement on the 14th, so hopefully it will report soon thereafter.

COLLECTIONS:

I tried disputing the inaccurate medical collection on my report, however, it came back verified. So, I am out of options there.

I am currently still making payments on my sprint collection with source receivables, tomorrow is my 2ndpayment to them and after that I will only have one more payment remaining.

Sunrise Credit Collections was removed from my report, due to the account being inaccurate and I disputed. This is a win, but again my score did not change when it was removed from Experian.

COLLECTIONS LEFT TO PAY

SOURCE RECIEVABLES: 1,487.00

VERIZON: 714 (this is not reporting to myfico, but it shows on EQ)

MEDICAL DATA SYSTEMS: 760

I am also getting an issue resolved with a timeshare that I had. Hopefully this will be handled soon and my report can heal from the late payments.

All in all this month has been challenging, I understand that it is a marathon and not a race and I am proud of my progress so far.

Re: Journaling My Rebuild

Anonymous — Fri, 12 Jun 2020 00:55:38 GMT

@Anonymous wrote:
June 11th UPDATE

Fico Scores as of 6/8/20
EQ: 587
TU: 586
EX: 621

Although all of my paid charge off’s have been paid and reflect zero, Equifax is the only one that still shows a balance on the Merrick Bank Charge off, which was paid over a month ago. I wrote a letter to them disputing the amount and mailed it off yesterday. I’m not sure why they are lagging behind when everything else updated. Hopefully, they will update the balance to zero.

I was surprised by my utilization with my self lender credit card. Last month was the first month that they reported and they showed $25.00 balance. My CL is $125 so that put me at 20% utilization. This month, I put 2.00 on the card and it reported as 1% utilization, but my FICO score did not change. I thought that I would see a boost being as though I crossed a UTI threshold, but nothing. Here is the alert below:

FICO® SCORE CHANGE
621Your score has not changed since 06/08/2020
Your score may be affected by additional information in your credit report - learn more.
View score history
DETAILS
COMPANY NAME
LEAD BANK
UTILIZATION PERCENTAGE
20%1%
BALANCE AMOUNT
$25.00 $2.00
What does this mean?
Dispute this change

In other news, NFCU card still has not reported, but I am only approaching my 2nd statement on the 14th, so hopefully it will report soon thereafter.

COLLECTIONS:
I tried disputing the inaccurate medical collection on my report, however, it came back verified. So, I am out of options there.

I am currently still making payments on my sprint collection with source receivables, tomorrow is my 2ndpayment to them and after that I will only have one more payment remaining.

Sunrise Credit Collections was removed from my report, due to the account being inaccurate and I disputed. This is a win, but again my score did not change when it was removed from Experian.

COLLECTIONS LEFT TO PAY

SOURCE RECIEVABLES: 1,487.00
VERIZON: 714 (this is not reporting to myfico, but it shows on EQ)
MEDICAL DATA SYSTEMS: 760

I am also getting an issue resolved with a timeshare that I had. Hopefully this will be handled soon and my report can heal from the late payments.

All in all this month has been challenging, I understand that it is a marathon and not a race and I am proud of my progress so far.

Congrats on the progress!

You are coming right along!

I know it is hard waiting for updates and score changes, but hang in there!

It took a whole month for my CA to update/delete, so they can be slow. I think EQ was the slowest to post the change.

Good luck with the rest and keep us posted!

Re: Journaling My Rebuild

Anonymous — Fri, 12 Jun 2020 01:19:03 GMT

Thank you!! @Anonymous