Getting started and on the right track I think...got an Early Exculsion it's a start!

[Anonymous]

Hello all! figured I would stop lurking and start contributing. In November I pulled all 3 reports and scores with credit check total. What I saw wasn't shocking but I will say I wasn't prepared for how low my scores were. Post is long I apologize in advance but bear with me!

Starting scores EX- 503 EQ- 501 TU- 508

At that time, I had about 9-10 items on each report causing adverse reaction including items in collections (most medical), 1 public record (judgment), and a repossesion. The only credit that I had were student loans, that were negative because I was unaware that they had come out of deferrment and a car loan that I just opened in July of last year. Of course I had no idea where or how to start to tackle my credit problems so I am truly thankful for the people on this forum. I signed up with credit karma for monitoring my reports/and score (which I found out through this forum was incorrect).

November:

First thing I did was contact the servicer of my student loans and applied for the Income Based Repayment plan which put my loans back in deferrment for 60 days in order for me to complete required paperwork. The update from the the loan brought my account back current which raised my CK score by 20 points! 

My next order of business were the baddies, I'd heard of collection sheild 360 through here and another forum so I decided to give it a try. They've removed/deleted 4 collections off of my report most medical but hey I'll take it! CK score went up to EQ-560  TU-567

December:

I opened a self lender account in December and made my first payment this month I'm hoping to see some from that next month. I was approved for a Capital One secured card and I was reluctant to fund it but since I'm hearing that cards are starting to unsecure I'm going to bite the bullet and hope for the best approaching the 80 day mark soon. I was also approved for a Discover it secured card which I immediately funded $200 and it's being used for my everyday purchases that I would use my debit card for and then pay it off. First statement cuts on the 12th of next month, I plan to pay the balance down to 2-3% before that time.

January:

When discover reported the card opening my CK score dropped EQ-526 TU-526 then another CA added an account to TU which dropped it another 15 points. I now have 4-6 collections still being listed on my reports, including a repossesion and an unpaid judgment which is due to fall of in August of this year. I wrote each one down from smallest to largest and plan to start tackling those through PFD/GW/settlements **fingers crossed**

In the midst of my forum lurking I read about and decided to try my chances with EE for my judgment. Success!! Experian deleted the judgment from my credit report 7 months early!! Planning to call transunion after the first of February to see if they will show me the same kindness! Waiting to hear from Equifax and hoping for some good news from them as well.

I do plan on paying the judgment it's just nice that it is no longer listed and I now have 0 public records on 1 report!

Is there something more that I need to do or am I on the right track!

Baddies listed below: 

Amsher (T-mobile) - $1462  TU & EX

Ad Astra (Speedy Cash) - $265 TU, EX, EQ     

Verizon wireless - $1452 TU, EX, EQ                

Exeter Finance (repo) - $12,826 TU, EX, EQ *updates monthly

CBB (medical) - $51 TU & EQ

AR resources (medical) - $145 EQ

Judgment - $2000 EQ & TU

Ideally I would love to obtain a PFD with all of these starting from smallest to largest. I know some of these CA's play ball and some don't so I'll just have to see how that goes. I plan to set up arrangments for the repo but it will be the last thing I take care of after paying off the smaller amounts.

***Just signed up for CCT again and my judgment has been excluded from both EQ and EX I now have two judgment free reports!!

Will update with DoFD at later date

Current scores: EX - 552  EQ - 556  TU - 560

[rmduhon]

Sounds like a good plan, but there are 2 questions you need to take into consideration also. What is the DoFD for the accounts? And the SOL for your state? And I wouldn't rely on CK scores. They can be (and usually are) widly off.

[Anonymous]

Thanks for the reply! I'll research and update with DoFD and my SOL. I do know the SOL for the judgment in my state is 20 years which is why want to get that paid for as soon as possible. I try not to rely on those scores and in hindsight I probably shouldn't have cancelled my CCT account. 

[rmduhon]

If you do the trial and cancel before it's up they'll often offer it half price for up to 5 years. The easiest way to find the DoFD is to pull your actual credit reports, EQ has the DoFD, the other 2 have an estimated fall off date which is 7 years after the DoFD.

[Anonymous]

Just re-started trial. Going to pull my actual reports later today if I can and update DoFD or fall off dates. I did however update CCT credit scores listed. Thanks again!

[Anonymous]

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@rmduhon wrote:
Sounds like a good plan, but there are 2 questions you need to take into consideration also. What is the DoFD for the accounts? And the SOL for your state? And I wouldn't rely on CK scores. They can be (and usually are) widly off.

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CK scores are not as far off as you think. I monitor my scores through a variety of sources. CK uses TU and EFX.

CK has my TU as 614. Capital One has it as 581. Credit Sesame has it as 641 and TU itself has it as 581.

CK has my EFX as 581. Credit.com has my EFX as 674 but uses a different and much older model (Vantage 3.0)

[rmduhon]

My TU Fico 08 is 719, CK has it at 628. EQ is 687, CK says 632. So yes, they can be aND usually are way off. I don't know if you are aware of this, but all the scores you list are FAKOs.

[Anonymous]

Any score taken from any source other than FICO is a FAKO score, but the general trend shold be consistent if the source is consistent.

It seems that as of December 2016/January 2017 the new scoring model treats the update of old delinquencies as new delinquencies, so that as long as a TL keeps getting reported, time has no effect on the scoring of that TL. It could be a default yesterday or 7 years ago (as is in my case) you will get dinged the same regardless.