What would you do?

[pipergirl71]

I have 13 derogs on my TU report.   Nine of them are non-student loan issues.  One of them is a credit card that was maxed out, but was just paid off 3 days ago, and the report simply hasn't been updated yet.  So that will become a "positive" remark (credit limit is $1500).  So that brings it down to 8 derogs. 

Another derog is from an auto loan, but it has two marks on it from when I was more than 30 days late two times (11/05 and 1/06).  It was paid off in 2006.  Question #1:  Would it be worth a try to write a GW letter to see if they'll do something to help my credit rating (I'm assuming that's the purpose of a GW letter)?

The rest of the non-student loan derogs (7 of them) are due to fall off between 4/12 and 3/14, most of them in 2013.  Both of our cars have over 100,000 miles, and we will be needing at least one new (or new-to-us) car in the relatively near future.  Question #2:  Would it be worth it to try to get these PDF, or should I just not even bother and let them fall off in another 3 years?  Half of those have already been paid either in full or partial payment.

I'll ask about the student loan derogs on the student loan board.

And finally, I have four (yes, that's correct, only 4) positive accounts on my credit report, two are a credit card (opened in 1990) that may (or may not) still be open, but is/was in good standing, and the other two are my two student loans that will be consolidated.  One more should be appearing since I paid off that credit card (see above).  I'm considering taking out a $200 secured credit card to help build credit.  Question #3:  Is that a good idea?  And/or can you give some other advice or information on building credit back up? 

Thanks for your help!

~Erin

[laz98]

GW letters & PFD agreements are always worth a try   especially since 2014 is still a long time from now.

[AndySoCal]

Paying off the maxed out card will boast your score. I you could try to GW the auto loan lates but I doubt if this will have any impact on the score it might. I would inquire on the credit card that was opened 1990 to see if the account is still open. If so go and use it not a big purchase like a few pairs of socks for example. The long credit history that card has is/ will help your FICO score. I would not apply for a secured card now you dont want the inquiry if yo will be needing a new car(s). soon.