From Homeless ---------> to Alliant & 1st unsecured card. Stuck & need help, please.

[Anonymous]

I've been technically homeless on and off for many years. Started community college, and had one apartment. After the lease ended, I focused on education and saving money. I am now on solid ground and working to clean up credit. I studied this board from homeless shelters and public libraries, and dreamed about "some day". Well, with dreaming, discipline, and planning that day arrived 3 months ago.  Since then,

1.  I obtained credit report and paid for FICO. 

2.  Opened an account with Alliant. Waiting for deposit paperwork to arrive.

3.  Got an UNsecured card from Capital One with a $300 limit.

There isn't much on my credit report. Thing is, there are some things on there that simply are not mine. 

For example, I resolved a collection with Portland General Electric (less than $200), by starting new service with them and paying the old bill in full. They removed it from my credit report in 3 days. Then I noticed another Portland General Electric collection for $600 was still on my credit report. I talked to someone from PGE corporate, and she confirmed that I have not had any service other than the two accounts. (The old one that I resolved and my new service)

I have NOT contacted any credit collection agency. I learned from this board to KEEP AWAY from those people. Thus far, I have only been calling the original creditors directly.

So...what do I do next? I don't want to open Pandora's Box with Bonneville. Portland General said they can't pull something from my credit report that they didn't put on there, and they are happy to provide documentation stating I have only had two accounts with them. At this time both are in good standing.

I hope someone can help me with my next step. What do I do about the $600 collections from Portland General Electric? 

• I already contacted Portland General.
• Contact Bonneville? (Oh, please no)?
• Contact Experian, Equifax and Transunion?

Also, I can't figure out how to copy and paste my credit report (with personal info redacted). I would like to know where to invest my time and energy so I can stay on the right path. I'm not ashamed to say it, "I really need help now."

Many thanks in advance.

ginaLOLLA

[Anonymous]

I'd get the letter from Portland and dispute the collection with all 3 CRAs. You can provide the docs.

Congrats on the rest of your progress!

[Anonymous]

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@Anonymous wrote:

I've been technically homeless on and off for many years. Started community college, and had one apartment. After the lease ended, I focused on education and saving money. I am now on solid ground and working to clean up credit. I studied this board from homeless shelters and public libraries, and dreamed about "some day". Well, with dreaming, discipline, and planning that day arrived 3 months ago.  Since then,

1.  I obtained credit report and paid for FICO. 

2.  Opened an account with Alliant. Waiting for deposit paperwork to arrive.

3.  Got an UNsecured card from Capital One with a $300 limit.

There isn't much on my credit report. Thing is, there are some things on there that simply are not mine. 

For example, I resolved a collection with Portland General Electric (less than $200), by starting new service with them and paying the old bill in full. They removed it from my credit report in 3 days. Then I noticed another Portland General Electric collection for $600 was still on my credit report. I talked to someone from PGE corporate, and she confirmed that I have not had any service other than the two accounts. (The old one that I resolved and my new service)

I have NOT contacted any credit collection agency. I learned from this board to KEEP AWAY from those people. Thus far, I have only been calling the original creditors directly.

So...what do I do next? I don't want to open Pandora's Box with Bonneville. Portland General said they can't pull something from my credit report that they didn't put on there, and they are happy to provide documentation stating I have only had two accounts with them. At this time both are in good standing.

I hope someone can help me with my next step. What do I do about the $600 collections from Portland General Electric? 

• I already contacted Portland General.
• Contact Bonneville? (Oh, please no)?
• Contact Experian, Equifax and Transunion?

Also, I can't figure out how to copy and paste my credit report (with personal info redacted). I would like to know where to invest my time and energy so I can stay on the right path. I'm not ashamed to say it, "I really need help now."

Many thanks in advance.

ginaLOLLA

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Two ways you can approach the collection. 1. You can send a letter to Bonneville (I hate those SOB's, they sued me) with a request for Debt Validation under FDCPA, stating that you have verified with the original creditor that you do not and never have owed this bill. 2. You can follow the instructions found in FCRA 605B for items you believe to be the result of ID Theft.

Wait for the new Cap One account to show up on your reports, then apply for a second Cap One card. If you have the Platinum, app for the QS1, if you havethe QS1, then app for the Platinum.

[Anonymous]

NormanFH 

Re:  Two ways you can approach the collection. 1. You can send a letter to Bonneville (I hate those SOB's, they sued me) with a request for Debt Validation under FDCPA, stating that you have verified with the original creditor that you do not and never have owed this bill. 2. You can follow the instructions found in FCRA 605B for items you believe to be the result of ID Theft.

Thank you for the recommendations. I will study Debt Validation and FCRA to see which is the easiest approach. Going the Bonneville route feels like I'm stepping into the Lions Den with a skirt steak on. 

Re:  Wait for the new Cap One account to show up on your reports, then apply for a second Cap One card. If you have the Platinum, app for the QS1, if you havethe QS1, then app for the Platinum.

I would like to be strategic with the Cap One $300 card. Monthly cash expenses are 400-600. Should I use the Cap One card for the 400-600 monthly purchases (never exceeding the limit) then pay it off 2 or 3 times each month? Or does it look bad that I'm using it so much?

[Anonymous]

Noxqs

Re: I'd get the letter from Portland and dispute the collection with all 3 CRAs. You can provide the docs.

Thank you. PGE was happy to assist, and told me it would be faster if I came in. I am going to corporate to collect the documents. 

[Anonymous]

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@Anonymous wrote:

NormanFH 

Re:  Two ways you can approach the collection. 1. You can send a letter to Bonneville (I hate those SOB's, they sued me) with a request for Debt Validation under FDCPA, stating that you have verified with the original creditor that you do not and never have owed this bill. 2. You can follow the instructions found in FCRA 605B for items you believe to be the result of ID Theft.

Thank you for the recommendations. I will study Debt Validation and FCRA to see which is the easiest approach. Going the Bonneville route feels like I'm stepping into the Lions Den with a skirt steak on. 

Re:  Wait for the new Cap One account to show up on your reports, then apply for a second Cap One card. If you have the Platinum, app for the QS1, if you havethe QS1, then app for the Platinum.

I would like to be strategic with the Cap One $300 card. Monthly cash expenses are 400-600. Should I use the Cap One card for the 400-600 monthly purchases (never exceeding the limit) then pay it off 2 or 3 times each month? Or does it look bad that I'm using it so much?

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Use it as much as you like, just pay it down before closing. They usually will give pretty decent early CLI's after the second statement, if you put a lot of usage on it.

[Anonymous]

How much should I deposit into Alliant savings?

I can deposit more than $500. Does that significantly help me? If it doesn't make a significant difference in rebuilding, I will continue to follow the forumula laid out by one of the awesome members on this board.

After reserving money for bills & expenses for 6 months, I have just over 3K left. This is where I currently stand:

• I have a Chase Checking debit card. 
• I have USBank Student debit card. 
• Waiting for $300 unsecured from Cap One. (will wait for usage to show up on credit report, then apply for another Cap One card)
• Waiting for paperwork from Alliant to send deposit. (how much and how does a bigger deposit help me)

Is it possible to use my savings/cash on hand to work for me?

Many thanks,

ginaLOLLA

[Anonymous]

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@Anonymous wrote:

How much should I deposit into Alliant savings?

I can deposit more than $500. Does that significantly help me? If it doesn't make a significant difference in rebuilding, I will continue to follow the forumula laid out by one of the awesome members on this board.

After reserving money for bills & expenses for 6 months, I have just over 3K left. This is where I currently stand:

• I have a Chase Checking debit card. 
• I have USBank Student debit card. 
• Waiting for $300 unsecured from Cap One. (will wait for usage to show up on credit report, then apply for another Cap One card)
• Waiting for paperwork from Alliant to send deposit. (how much and how does a bigger deposit help me)

Is it possible to use my savings/cash on hand to work for me?

Many thanks,

ginaLOLLA

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The lowest they will go. For the longest terms they will go.

[Anonymous]

Re: The lowest they will go. For the longest terms they will go.

That helps. My FICO is 596 after removing the first PGE collection. Shouldn't I apply for two additional cards? If so, please recommend.

[Anonymous]

With score lower than this a month ago I was able to get Secured Discover and Wells Fargo secure card. In a month and half I was able to get 3 secure cards and 1 unsecured QS1. Thanks to this forum. Also approved for a car loan from CapitalOne.