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408 credit score; 28 years old;terrible credit, finally trying to fix things

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Re: 408 credit score; 28 years old;terrible credit, finally trying to fix things

So call the collection company and make monthly payments? The total debt had racked up to $2400. I definitely don’t have that on hand. And the other thing with this, is I heard Hunter Warfield(the collections company for rentals) is notorious for lying and taking the money without reporting. That’s why I just wanted to pay them off in a lump sum. I wouldn’t want to make monthly payments to them because I don’t trust them at all.
My friends chase card has a CL of 6,000 and the Costco citi has a CL of 5,000
Fingers crossed that it’ll give me a boost.
I also went on Experian for the quick boost, and my score went up to a 510 because of my Verizon bill. I know this probably is only reflective on Experian, but it gave me hope.
Also, still waiting on Navient(my student loans) to reflect a current balance. Hopefully it’ll be sometime next week
Capital one is still reporting a maxed out balance, so I’m waiting and waiting for that to update.
Those are the two things I’m hopeful of as of right now: cap one updating as well as the student loans
Message 21 of 45
Member

Re: 408 credit score; 28 years old;terrible credit, finally trying to fix things

Are there any links on here for sample letters for PFD?
Message 22 of 45
Regular Contributor

Re: 408 credit score; 28 years old;terrible credit, finally trying to fix things

Keep all records for anything you pay for the apartment.  Do not pay anything in cash.  If you can prove that you paid the amount off, it will have to be removed from your CR.  It is probably not lying on their part so much as it is laziness and not updating to the CRAs.  You can dispute with CRAs and prove that you made all these payments and that total amount owed is 'this amount'.  This will force the collection company to update the amount owed with the CRA.

 

An increased credit card limit of $11000 will definitely help with your overall utilization as long as your friend keeps his utilization low.  If he has large amount charged on his cards, then it is not likely to help at all.  I guess you will see when the CRs come out.  It might also take a month or two to show up on your report.  Depends on how quickly they report to the CRAs.  I find EQ is also slower than EX and TU at updating new information.

Message 23 of 45
Member

Re: 408 credit score; 28 years old;terrible credit, finally trying to fix things

Thank you so much for your help! If you don’t mind, i want to keep you updated on everything whenever it changes, like my credit score and whatnot. I want you to see that I am going to start a budget. No more eating out, no more ordering food and buying unnecessary things. Strictly saving and paying off the apartment. I’m pushing the managers and supervisors at work, that I need more hours. And I hope that since my score is so low, it’ll do a very huge jump from these things I’m doing. We will see! I’ll keep you posted here. Or if this site has a way of adding people as a friend, that’d be cool. Let me know!
Message 24 of 45
Regular Contributor

Re: 408 credit score; 28 years old;terrible credit, finally trying to fix things


@scifidog wrote:
Thank you so much for your help! If you don’t mind, i want to keep you updated on everything whenever it changes, like my credit score and whatnot. I want you to see that I am going to start a budget. No more eating out, no more ordering food and buying unnecessary things. Strictly saving and paying off the apartment. I’m pushing the managers and supervisors at work, that I need more hours. And I hope that since my score is so low, it’ll do a very huge jump from these things I’m doing. We will see! I’ll keep you posted here. Or if this site has a way of adding people as a friend, that’d be cool. Let me know!

I sent you a PM.  You can keep me updated to when you post through the PM featureSmiley Happy

Message 25 of 45
New Contributor

Re: 408 credit score; 28 years old;terrible credit, finally trying to fix things

Best advice is to keep on keeping on and look forward. Stick to your budget. Don't let family or friends derail your plan. The past collections/mistakes etc. are done and it's sometimes easy to fall into a depression when we start to think of the past. Can't change that. I have been paying and paying on past mistakes for a year now and it's finally coming to an end for me. I've been served court papers on debt (in what I call now my "former life" as I'm a different person today) and went to court with my chin up and walked away with a payment plan and no court judgement. 

 

You, too, can do this. Especially with all of the helpful folks here in the forum. Ask anything and you will get some response....

 

Here's to your new life.....take care.

FICO 8

Message 26 of 45
Member

Re: 408 credit score; 28 years old;terrible credit, finally trying to fix things

Update! My score has increased tremendously. Still no update from capital One. But my student loans(navient) has finally been reported as current! My score is now 555. Still poor, but better than 408!
Message 27 of 45
Valued Contributor

Re: 408 credit score; 28 years old;terrible credit, finally trying to fix things

I don’t care where they stand, a jump of 147 points rocks! You may already be in range for a secured card...


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Entering the garden 5/27/2019, staying until 2020




Message 28 of 45
Member

Re: 408 credit score; 28 years old;terrible credit, finally trying to fix things

Thanks! I’m waiting for the statement from capital one to post to the credit bureaus. I finally paid it down to $0!!! And my Citi is sitting at a $25 balance. I feel like once my credit utilization drops from 95% back down to 1-10%, that’ll help my score jump some more too! Also, I set up payment arrangement with three of those collections accounts to be fully paid off on September 20(next payday!) I’m amazed!
Message 29 of 45
Valued Contributor

Re: 408 credit score; 28 years old;terrible credit, finally trying to fix things

Yes you are definitely positioning yourself very well - looking forward to updates later this month Smiley Happy


Rose Gold | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020




Message 30 of 45
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