topic We are in need of help. in Rebuilding Your Credit

We are in need of help.

nurseybp — Fri, 15 Jan 2010 01:40:15 GMT

We need your help. Here is what my credit report from tu, is reporting.

PUBLIC RECORDS

Wayne County 36th Distri Docket#

civil judgment

Date filed:03/2007

Amount:$1231

Estimated date of removal:2/2014

Wayne County Register of Docket#

state tax lien

Date filed:2/2009

Amount:$699

Wayne County Register of Docket#

state tax lien

Date filed:7/2008

Amount:$503

ADVERSE ACCOUNTS

Arrow Financial Services

Balance:$224

Date updated:1/2009

Original Balance:$195

Original Creditor: Plains Commerce Bank

Pay Status:Collection

Account typepen account

Arrow Financial Services

Balance:$586

Date Updated:5/2008

Original Balance:$433

Original Creditorremier Bank Card

Past Due:$586

Pay Status:Collection

Account Typepen Account

Atlantic Credit & Finan

Balance:$732

Date Updated:12/2009

Original Balance:$732

Original Creditor:Med 1 Bally Health Club

Pay Status:Collection Account

Account Typepen Account

Bally Total Fitness

Balance:$0

Date Updated:3/2009

High Balance:$2878

Terms:$119 for 24 months

Pay Status:Charged Off As Bad Debt

Account Type: Installment Account

Date Opened:1/2007

Date Closed:3/2009

Credit Acceptance Corp

Balance:$5946

Date Updated:1/2008

High Balance:$10751

Past Due:$5946

Terms:$358 for 30 months

Pay Status:Repossession

Account Type:Installment Agreement

Date Opened:1/2005

Date Closed:3/2006

Credit Protection Assoc

Balance:$646

Date Opened:7/2009

Original Balance:$646

Original Creditor:Comcast Cable

Pay Status:Collection Account

First Bank of Delware

Balance:$0

Date updated: 8/2008

High Balance:$600

Credit Limit:$375

Past Due:$0

Pay Status60 Days Past Due

Account Type:Revolving Account

Date Opened:8/2007

Dated Closed:7/2008

Date Paid:7/2008

Account Closed by Consumer

First Premier Bank

Balance:$418

Date Updated:1/2009

High Balance:$418

Credit Limit:$300

Past Due:$150

Pay Status:Charged Off As Bad Debt

Account Type:Revolving Account

Resposibility:Authorized Account

Date Opened:9/2007

Date Closed:7/2008

First Premier Bank

Balance:$0

Date Updated:11/2008

High Balance:$422

Credit Limit:$250

Past Due:$0

Pay Statusaid or paying as agreed

Account Type:Revolving

Resposibility:Authorized

Date Opened:11/2006

Date Closed:7/2008

Date Paid:7/2008

First Premier Bank

Balance:$0

Date Updated:1/2008

CollateralLDTO Arrow Financial Services

Credit Limit:$300

Past Due:$0

Pay Status: Charged of as bad debt

Account Type:Revolving

Date Closed:6/2005

Date Paid :10/2005

Ginnys

Balance:$308

Date Updated:12/2009

High Balance:$308

Past Due:$90

Pay Status:Charged off as bad debt

Account Type:Revolving

Date Opened:5/2008

Date Closed:5/2009

Jefferson Financial Services

Balance:$746

Date Updated:12/2009

Original Balance:$777

Original Creditor:Imagine Mastercard

Past Due:$746

Pay Status:Collections

Account Typepen Account

Date Closed:12/2006

META Bank

Balance:$0

Date Updated:5/2006

High Balance:$440

Credit Limit:$300

Past Due:$0

Pay Status30 days past due

Date Opened:3/2005

Date Closed:4/2006

Midnight Velvet

Balance:$352

Date Updated:12/2009
High Balance:$352

Past Due$50<

Pay Status:Charged off as bad debt

Date Opened:5/2008

Date Closed:5/2009

Plains Commerce Bank

Balance :$284

Date Updated:2/2009

High Balance:$284

Credit Limit:$242

Past Due$140<

Pay Staus:Charged off as bad debt

Plains Commerce Bank

Balance:$195

Date Verified:12/2006

High Balance:$300

Past Due$195<

Pay Status:Charged off as bad debt

Date Opened:8/2004

Date Closed:11/2004

Remarks:Transferd to recovery

Premium Asset Recovery

Balance:$50

Date Updated:11/2009

Original Balance:$50

Original Creditorakwood Hospital

Past Due:$50

Pay Status:Collection

Placed for Collection:4/2008

Premium Asset Recovery

Balance:$50

Date Updated:11/2009

Original Balance:$50

Original Creditorakwood Hospital

Past Due:$$50

Pay Staus:Collection

Placed for Collection:4/2008

Premium Asset Recovery

Balance:$50

Date Updated:11/2009

Original Balance:$50

Original Creditorakwood Hospital

Past Due:$50

Pay Status:Collection

Placed for Collection:4/2008

There are 2 more for Premiem Asset Recovery for $50, for a total of 6 and I have one for $486,same info as the others

Sallie Mae

Balance:$2686

Date Updated:11/2009

High Balance:$2625

Past Due:$0

Terms:$26 for 120 months

Pay Statusaid or paying as agreed

Date Opened:9/2004

3-90 day lates and 1-120 days late

Sallie Mae

Balance:$4553

Date Updated:12/2006

High Balance:$4000

Past Due:$0

Terms:$45 for 120 months

Pay Statusaid or Paying as agreed

Date Opened:9/2004

3-90 day lates and 1-120 day late

Washington Mutual Bank

Balance:$0

Date Updated:12/2006

High Balance:$62577

Past Due:$0

Terms:$0 for 360 months

Pay Status: Paid or paying as agreed

Date Opened:9/2004

Remarks:Transfered to another lender

8-30 day lates, 6-60 day lates, 18-90 day lates

Wells Fargo

Balance:$0

Date Updated:6/2007

High Balance:$62577

Past Due:$0

Terms:$795 for 360 months

Pay Status120 days late

Remarks:Forclosure proceedings started 2/2007

Date Opened:1/1999

Dated Closed:6/2007

I know there is a lot, and I need a lot of help. All help is greatly appreciated.

Re: We are in need of help.

Anonymous — Fri, 15 Jan 2010 15:54:54 GMT

Wow...that's a lot.

Perhaps you could provide more than just your report, such as:

1. Is there anything that is inaccurate?

2. What is your income and financial circumstances?

3. Have you considered BK?

There is nothing to magically make these all go away. The judgments and tax liens will need to be satisfied. You should try to negotiate with the judgement to allow you to file motion to vacate when you settle.

As for the others, unless they are inactive and you are just planning to wait them out, you will have to start 1 at a time with settlements, preferably "Pay For Delete" settlements.

Until items are beyond SOL, you can be sued. After SOL you can enter a defense of barred by SOL if they sue.

CA's are tough. Some may be willing to Pay for delete. Some won't. The problem is that once you begin communicating, disputing or DV'ing the accounts they will become active and update the statuses. So if you don't have financial ability to make a settlement, there isn't much use in contacting them initially.

You may want to at least have a consultation with a BK attorney.

Re: We are in need of help.

nurseybp — Sat, 16 Jan 2010 03:26:21 GMT

We make about 120k per year. Everything is correct, somethings are reporting twice. We had a bankrupcy 10 yrs ago.

Re: We are in need of help.

RobertEG — Sat, 16 Jan 2010 08:56:05 GMT

nursy, when it comes to credit reporting, it does not matter if you make $1 a year or $1,000,000.

This is the first time in my years on this forum that I dont want to even to attempt offering futile advice.

Re: We are in need of help.

Anonymous — Sat, 16 Jan 2010 12:52:48 GMT

Hi Nursybp!

First things first-- take a deep breath, roll up your sleeves, flex your fingers, and dig in your heels. It's going to take some time, persistence, probably a few tendrils of your sanity, but it's doable, What you can't fix, time will take care of.

Have you already read What Steps Do I Take? Do I DV? PFD? If you haven't, it's a great read on how to get started.

The good news is that it sounds like you've got positive income flowing now, and some of these debts are pretty small. I also noticed that some of these you were only an authorized user on. You should be able to dispute as "Not mine" to get those removed.

Have you paid the state tax liens? The clock won't start ticking for removal until you do. What about the judgment? I believe that judgments can be renewed in Michigan for another 10 years, after the 1st 10 years, so you don't want that hanging over your head. You might be able to get the attorney for the plaintiff to agree to vacate it entirely, if you pay. It also looks as if you may have started paying some of the open/active collections, because there's a recent DoLA & a reduced balance. Have you negotiated PFDs for these?