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Completely overwhelmed....


Completely overwhelmed....

I am a newbie to credit repair.  My credit has been bad all my life.  I do not think there was one point in my life where my credit score was above 600. Smiley Indifferent  I am ashamed of that last sentence, but no more living in the past.  It is time to grow up and make changes for my future.  I am 31, employed, and I am currently in the process of purchasing a home.  Needless to say, my low credit score is making this process hard.  In order for me to take advantage of a first time homebuyer grant program, my credit score needs to be at least a 620.  I'm about 90 or so points off.  Most of my debt is old, a lot of collections and a lot of late payments.  I've begun the process to repair my credit by doing the following:


1. I have three collection accounts with RJM Acquisitions.  I sent them a letter CMRRR on 05/04/2011 asking them for a PFD.  

2. My credit card has a $250 limit which it was over, I paid that down to $10 on 05/05/11

3. I sent a goodwill letter to my credit card company (same one as above) to have them remove the late payments that are reporting on my CR, on 05/04/11

4. I was sent a letter of settlement from WFNB, they offered me 50% of my total due and said they would report the account as "settled in full" (not sure how to handle that) Received: 05/07/11

5. My student loan company contacted me about loan consolidation, which would pay off the balances of the old loans and create on large loan. Will work on the consolidation this week.


I also have an account with Univ of Phoenix in the amount of $1500, that I would like to dispute as when I attended there, I took out student loans, so I'm trying to figure out how I owe them $1500, with this account I plan a DV.  


Needless to say, all of this is fairly new to me.  All the terms, (DV, CA, FDRA, etc) have been a blur for the few weeks I've been lurking around.  I finally decided to step out of the shadows and take control of my financial life.  Here is to my first step to financial freedom!



myFICO score: 530 (and I'm not ashamed of that anymore)

Starting score: (April 2011) 530 - myFICO EQ
Current score: (04/2012) EQ - 608 (myFICO), EX FAKO - 671, TU FAKO - 619

Let's see what happens once they report minus the late payments!!!!!!
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Valued Contributor

Re: Completely overwhelmed....

Taking responsibility is the first step. I know! I am in the same boat as you Smiley Happy Just stick the forums and ask as many quesitons as you want, you will get the guidance you are seeking



Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession

Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
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