First Time Poster - Need Help With My Credit

[Anonymous]

Hello All,

this is my first post here. I would like to rebuild my credit, but I do not know how to start. My ultimate goal is to buy a house, but my scores are not where they need to be. I thought I was making some headway with myFico score, but came to find out that the lenders use a different myFico score to approve you for a mortgage loan. I got in some trouble while I was in college, even lost my vehicle because of it. My first question is, where do I start? How can I chip away and help me increase myFico scores, specially my mortgage scores.

Thank yall!

[Remedios]

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@Anonymous wrote:

Hello All,

this is my first post here. I would like to rebuild my credit, but I do not know how to start. My ultimate goal is to buy a house, but my scores are not where they need to be. I thought I was making some headway with myFico score, but came to find out that the lenders use a different myFico score to approve you for a mortgage loan. I got in some trouble while I was in college, even lost my vehicle because of it. My first question is, where do I start? How can I chip away and help me increase myFico scores, specially my mortgage scores.

Thank yall!

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Start by providing your scores,  list all the cards you have with their limits and balances, same for loans.

Include any derogatory info on your CRs

[Anonymous]

Experian - 560 (470 Fico2)

Capital One (Dated Opened 1/15/2016, Balance Updated 2/13/2019)

Current

Balance $350

Credit $300

Conns Credit Corp (Date Opened 7/23/16, Status Updated 2/27/17)

Paid, Closed

Enhanced Recovery (Date Opened 11/14/2017, Balance Updated 2/10/2019)

Collection

Balance $1257

Midland Funding (Date Opened 2/27/2017, Balance Updated 1/22/2019)

Collection

Balance $1123

Monterey Financial Services (Date Opened 5/6/2016, Status Updated 8/30/2017)

Paid, Closed, $3091 written off.

Studen Loans

Current, I am on deffered payments until July 2019.

River City Federal Credit Union (Date Opened 9/1/2011, Status Updated 1/31/2019)

Acoung charged off, written off (auto loan). Will be on record until March 2019.

SYNCB/AMAZON (Date Opened 12/23/2015, Status Updated 2/17/2017

Closed, $1122 written off.

American Express (Date Opened 5/24/2017, Status Updated 1/24/2019)

Current, authorized user.

TRANSUNION - 567 (476 fico4)

Capital One (Date Opened 1/15/2016, Status Updated 2/13/2019

Current

Balance $350

Credit $300

Conns Credit Corp (Date Opened 7/23/2016, Status Updated 2/27/2017)

Paid, Closed

Studen Loans

Current, I am on deffered payments until July 2019.

Monterey Financial Services (Date Opened 5/6/2016, Status Updated 10/28/2016)

Paid, Closed, $3091 written off/Charged Off.

River City FCU (Date Opened 9/1/2011, Status Updated 1/31/2019)

Charged Off

SYNCB/AMAZON (Date Opened 12/23/2015, Status Updated 3/27/2017)

Closed, $1122 written off/Charged Off.

Ad Astra Recovery Service (Placed for collection 8/4/2014, Last Updated 2/2/2019)

Speedy Cash, Collection $243

Enhanced Recovery (Placed for Collection on 11/14/2017, Last Updated 2/10/2019)

Collection

Balance $1257

Midland Funding (Placed for Collection 2/27/2017, Last Updated 1/24/2019)

Collection

Balance $1123

American Express

Current, authorized user.

EQUIFAX - 546 (543 fico5)

Capital One (

Current

Balance $350

Credit $300

SYNCB/AMAZON

Closed, $1122 written off/Charged Off.

River City Federal Credit Union

Acoung charged off, written off (auto loan). Will be on record until March 2019.

Studen Loans

Current, I am on deffered payments until July 2019.

Conns Credit Corp

Paid, Closed

Monterey Financial Services

Paid, Closed, $3091 written off/Charged Off.

American Express

Current, authorized user.

Midland Funding

Collection

Balance $1123

Ad Astra Recovery Service

Speedy Cash, Collection $243

Most of these accounts are old accounts, given the fact that I got in trouble while I was in college back in 2009-2015. And also closed to 20 inquiries.

[Anonymous]

I am thinking about sending goodwill letters to my current open accounts, Capital One, Conns and my student loans. Also, I might write to the credit agencies to see if I can get some of the inquiries removed. I know its not much, but I think something is better than nothing.

[Anonymous]

An Update on my current situtation.

As of 3/21/19

Experian - 602 560 (509 470 Fico2)

Capital One (Dated Opened 1/15/2016, Balance Updated 2/13/2019)

Current

Balance $206

Credit $300

Conns Credit Corp (Date Opened 7/23/16, Status Updated 2/27/17)

Paid, Closed

Enhanced Recovery (Date Opened 11/14/2017, Balance Updated 2/10/2019)

Collection

Balance $1257

Midland Funding (Date Opened 2/27/2017, Balance Updated 1/22/2019)

Collection

Balance $1123

Monterey Financial Services (Date Opened 5/6/2016, Status Updated 8/30/2017)

Paid, Closed, $3091 written off.

Studen Loans

Current, I am on deffered payments until July 2019.

River City Federal Credit Union (Date Opened 9/1/2011, Status Updated 1/31/2019)

Acoung charged off, written off (auto loan). Will be on record until March 2019.

SYNCB/AMAZON (Date Opened 12/23/2015, Status Updated 2/17/2017

Closed, $1122 written off.

American Express (Date Opened 5/24/2017, Status Updated 1/24/2019)

Current, authorized user.

TRANSUNION - 589 567 (514 476 fico4)

Capital One (Date Opened 1/15/2016, Status Updated 2/13/2019

Current

Balance $206

Credit $300

Conns Credit Corp (Date Opened 7/23/2016, Status Updated 2/27/2017)

Paid, Closed

Studen Loans

Current, I am on deffered payments until July 2019.

Monterey Financial Services (Date Opened 5/6/2016, Status Updated 10/28/2016)

Paid, Closed, $3091 written off/Charged Off.

River City FCU (Date Opened 9/1/2011, Status Updated 1/31/2019)

Charged Off

SYNCB/AMAZON (Date Opened 12/23/2015, Status Updated 3/27/2017)

Closed, $1122 written off/Charged Off.

Ad Astra Recovery Service (Placed for collection 8/4/2014, Last Updated 2/2/2019)

Speedy Cash, Collection $243

Enhanced Recovery (Placed for Collection on 11/14/2017, Last Updated 2/10/2019)

Collection

Balance $1257

Midland Funding (Placed for Collection 2/27/2017, Last Updated 1/24/2019)

Collection

Balance $1123

American Express

Current, authorized user.

EQUIFAX - 569 546 (572 543 fico5)

Capital One (

Current

Balance $206

Credit $300

SYNCB/AMAZON

Closed, $1122 written off/Charged Off.

River City Federal Credit Union

Acoung charged off, written off (auto loan). Will be on record until March 2019.

Studen Loans

Current, I am on deffered payments until July 2019.

Conns Credit Corp

Paid, Closed

Monterey Financial Services

Paid, Closed, $3091 written off/Charged Off.

American Express

Current, authorized user.

Midland Funding

Collection

Balance $1123

Ad Astra Recovery Service

Speedy Cash, Collection $243

I have a new credit card that I just got with a $300 limit. I am trying the AZEO method, so lets see how this one goes.

[Anonymous]

I also trying to get my River City Federal Credit Union account, which was due to fall off in March of this year. Does anybody know how to go about getting this removed?

In addition, I also just sent the following letter to all three credit bureaus in regards to Midland Funding,...

To Whom It May Concern,

            Since 2012, Encore Capital Group, Inc., parent company of Midland Funding, LLC, and Midland Credit Management, Inc., and Acceptance Capital Corp. have had a poor track record in regards to its illegal collection and/or litigation practices. These illegal collection and litigation practices have resulted in fines, from the United States Government and from individual states as well, of $54,500,000.00, here attached as Exhibit 1.

These illegal collection and litigation practices, which are still going on today in my own case (here attached as Exhibit 2-A and Exhibit 2-B), include the following, which are attached here as Exhibit 2:

1. Attempted to collect on unsubstantiated or inaccurate debt;
2. Misrepresented their intention to prove debts they sued consumers over;
3. Relied on misleading, robo-signed court filings to churn out lawsuits;
4. Sued or threatened to sue consumers past the statute of limitations (Exhibit 2-A);
5. Pressured consumers to make payments using misrepresentations;
6. Encore falsely told consumers the burden of proof was on them to disprove the debt (Exhibit 2-B);
7. Portfolio Recovery Associates falsely claimed an attorney had reviewed the file and a lawsuit was imminent;
8. Encore disregarded or failed to adequately investigate consumers’ dispute;
9. Encore farmed out disputed debts to law firms without forwarding required information;
10. Encore made harassing collection calls to consumers; and
11. Portfolio Recovery Associates mislead consumers into consenting to receive auto-dialed cell phone calls.

As of today, Encore Capital Group, Inc., Midland Funding, LLC, Midland Credit Management, Inc., and Asset Acceptance Capital Corp. have paid millions of dollars in fines and penalties due to their unlawful business procedures which violate the consumer’s rights, according to the Consumer Financial Protection Bureau, here attached as Exhibit 3.

Their illegal actions have caused thousands upon thousands of consumer’s credit files to be tainted with negative remarks which includes myself. Please remove Encore Capital Group, Inc., Midland Funding, LLC, Midland Credit Management, Inc., and Acceptance Capital Corp. from my file so that I can restore my credit and good name back to where it once was. In addition, I have also started a dispute with Equifax in regards to this matter.

Than you in advance,

[Anonymous]

Keep up the good work!

[Anonymous]

Question, which Credit Card should I get next? I just got the Credit One Bank CC with a $300 limit, and I have a Capital One CC with a $300 limit, I am also an AU in a AMEX Platinum. So, should I get another one to try the AZEO method?

[pgtackle2003]

I would not get another CC if I were you. The AZEO method requires ONE card with a balance, having more than one card with a balance will only negatively affect your score. Seems you're on the right track overall. I had success in getting Midland Funding removed from my CR (after I settled the balance)

[dynamicvb]

Paying the balance down to less than 8.9% will help your score a good bit. Getting the collections, that will do it to agree to pay for delete, will also help your scores rise as each one goes away. I would not get another card yet until you get your scores up as that will help you get better cards with better limits than any you may get right now.