467 SCORE - PLEASE HELP!!!

[Anonymous]

Various situations and irresponsibility has put me in this situation.  Today, is the start of my beginning!  I received my 3-in-one credit report via Equifax with the score.  It is just ridiculous.  I am not sure where to start.  I was able to read that making payments on time was CRUCIAL to moving forward.  DONE!  However, I am not sure where to go from there.  I have a tremendous amount to clean up on my credit report.  I once owned a home and now I can't even purchase one.  I have no high interest car loans in both my husband and I name.  I can get anything on credit.  I would like to change all of that in the next 12 months. 

I see there is a lot of acronyms used, which I guess I will pick up on as I continue to use this forum.  According to the Aquifer simulation negative items, bad payment history, recent missed payments, and high credit usage are impacting my credit score.

Where do I start????

Please help!!!

Tracy E

[Anonymous]

If you dont mind, list what you have on your reports here just dont include your account numbers you cant do that on the forum. That way everyone here would be able to help you better. And if you could dont bunch it together in one big paragraph, its easier to read if you just make a list out of it. But good for you for wanting to make things better...im in the same boat. We can get there

[RobertEG]

Hi, and welcome to the forums!

Your frst step is to make sure that your current credit report is accurate

You can do that for free.  Just log onto annualcreditreport.com, and get your totally free credit report from the files of each credit reporting agency.   Dont bite on any offers to also provide you a credit score/.  Just get your free credit reports.  and out

[LIGHTNIN]

Welcome to the forums,

Yes, start with getting your free credit reports from annualcreditreport.com, 

Check for mistakes.

Also check out the stickys at the top of the boards.Some of the stickys I have links below you can use.

I would look at the common abrev first, so you'll know what we are talking about.

You can make a copy of them to have next to your computer or if your monitor if big enough, the way I do it is....I pull up another window.

[Anonymous]

Its OK you will get there take one account at a time. This is going to take dedication and research but its worth the fight. I was in the same boat a year ago; I also came from credit score in the 400 and lost everything. We are here to help each other so dont feel bad you are on the righ track.

[Karefree]

Welcome!  I have definately been in this situation and with hard work you can turn it around.  The first thing I would focus on is any accounts that do not belong to you or that are reporting incorrectly and start disputing.  I am not sure what your financial situation is but I would consider getting a monitoring tool to see the changes as they occur is always positive reinforcement to keep working hard. 

Once you have disputed the inaccurate accounts, then focus on Pay for Deletes for Collection accounts.  I had a score of a 461 in Dec 2005 and within 6 months I bought my home.  My score was at a 671.  Sometimes getting 1 collection account deleted can be a 30 to 40 point bump up.

Good Luck! 

[Anonymous]

Thank you so much for your response.  Here's what I have:

GMAC Mortgage - DOLA is blank - date reported 6/2006 - date closed is 3/2005 - date of first delinquency is 1/2003

Litton Mortgage  - DOLA is blank - date of last payment is 5/2006 - date of first delinquency is 4/2003 - date closed is 5/2006

Both above mortgages were originally part of a BK filed in 2003; I told the property in 2006 before moving - shows as PAID & Closed but the days late (91-120) is the problem

Installment Accts:

Center One Financial Svcs - charge off (reported 8/2006) /opened (9/2002)/ last payment (11/2004) - show as Charged off/voluntary repo - date of first delinquency is 11/2003 - DOLA is blank

Mitsubishi Motors Credit - multiple lattes 30, 60, 90, 120 - this the charge off up top (acct was sold to Center One) - closed 3/2005 - DOLA is 4/2003

Revolving Accts:

First Premier - Authorize User (one  30 day late) acct opened 7/2004

CB&T (Aspire CC) - charge off ($1126) with/30,60,90, and 120 days - DOFD is 5/2009 - DOLA is blank - closed acct

Penny's - closed by credit gurantor - no missed payments (closed due to a return check for a monthly payment)

Tribute - charge off ($1252) DOLA is blank - DOFD is 11/2008 - opened 7/2006 Date Major Deliquency First is 5/2009  -  DOLA is blank

Other Accounts:

Midland Credit Mgmt - CA ($941) - DOLA is blank - DOFD is 1/2009 - Date of Major Delinquency First is 10/2009

Midland Credit Mgmt - CA ($1305) - DOLA is blank - DOFD is 11/2008 - Date of Major Delinquency First is 10/2009

National Credit ADJU - CA (Paid) - DOFD 5/2008 - DOLA is blank - Date of Major Delinquency First is 11/2008

Publix Federal CU - Charge Off ($215) - DOFD 12/2005 - DOLA is blank - Date of Major Delinquency First is 7/2007

Wachovia Bank - Charge Off ($973) - DOFD is 11/2006 - DOLA is blank - Date of Major Delinquency First is 5/2007 - Sold Acct

14 inquiries from 2008 - that has extended the two year period

Collections:

NCO ($643) DOFD is 3/2008

First Federal Credit Control (medical) ($297) - DOFD is 10/2008

Merchants Assn Coll - DOFD is 1/2009 ($140)

Merchants Assn Coll - DOFD is 9/2007 ($111)

MedicCredit Corp (medical) ($90) - DOFD is 6/2004

Credit Management - DOFD is 1/2006 ($251)

Capital Recovery Associate - DOFD is 8/2003 ($351)

Public Records:

BK - filed 9/2003 - dismissed/closed - disposition date is 1/2005 - date verified is N/A

ANY ASSISTANCE WOULD BE GREATLY APPRECIATED!!!!!

I have reviewed for inaccuracies as a result I am awaiting the results of an active dispute.  Also, with regards to my prior mortgage accounts.  Do i send them copies showing the property was sold in order to have this removed?  If not, how do I get this removed - or can I?

[Anonymous]

Thanks Carefree

Do I need to perform a DV before doing the PFD?

[Anonymous]

Can you explain how the SOL affect the various items on my credit report?  I live in Florida

 Florida Statutes of Limitation

Contract or written instrument and for mortgage foreclosure: 5 years. F.S. 95.11.

Libel, slander, or unpaid wages: 2 years.

Judgments: 20 years total and to be a lien on any real property, it has to be re-recorded for a second time at 10 years.

The limitations period begins from the date the last element of the cause of action occurred, (95.051). NOTE: The limitation period is tolled (stopped) for any period during which the debtor is absent from the state and each time a voluntary payment is made on a debt arising from a written instrument.

Almost all other actions fall under the 4-year catch-all limitations period, (F.S. 95.11(3)(p)).

[Anonymous]

I would dispute these as obsolete:

Center One Financial Svcs - charge off (reported 8/2006) /opened (9/2002)/ last payment (11/2004) - show as Charged off/voluntary repo - date of first delinquency is 11/2003 - DOLA is blank - Was this ever brought current after the DOFD? If not, then definitely dispute as obsolete even though it has a month to go.

Mitsubishi Motors Credit - multiple lattes 30, 60, 90, 120 - this the charge off up top (acct was sold to Center One) - closed 3/2005 - DOLA is 4/2003

 

Capital Recovery Associate - DOFD is 8/2003 ($351)