HELP with credit rebuilding and negative items on reports!

[queenbaddie24]

Hi all, 

There is so much valuable information on here, and I am reading through it all. I am in a rebuilding season as my payments were 100% until early 2022 where I was unable to make my payments due to being scammed out of a large sum of money. It became very hard for me to keep up with my regular bills. Fast forward to today, I have secured a wonderful 6 figure salary and career is on path - I now have the means to pay off my debt. 

Unfortuntaely in 2022 a lot of my cards were charged off. I will note the statuses below. I don't want to start paying them off until I have a good amount of info to try to get the chareoffs and negative information removed. Any tips, trick and advice to get negative info removed quickly and experience with these specific creditors is welcome!

Thank you!!!

Credit Cards

Capital One Quicksilver - 10 late payments, $628 balance, charged off

Captial One Platinum - 8 late payments, $885 balance, charged off

Synchrony Bank (Crate and Barrel) - $922 balance, charged off

Synchrony Bank (Ashley) - $234 balance, charged off

Synchrony Bank (Care Credit) - $1329, charged off

Loans

Moneylion - $708 owing, charged off 

Fig loans - $631 owing, charged off 

Collections

Verizon $447

Possible Finance $0 owing, paid off, but still reporting as collections

***I have two other collections accounts with National Credit system that have agreed to delete after payment***

[NYC_Fella]

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@queenbaddie24 wrote:

Hi all, 

There is so much valuable information on here, and I am reading through it all. I am in a rebuilding season as my payments were 100% until early 2022 where I was unable to make my payments due to being scammed out of a large sum of money. It became very hard for me to keep up with my regular bills. Fast forward to today, I have secured a wonderful 6 figure salary and career is on path - I now have the means to pay off my debt. 

Unfortuntaely in 2022 a lot of my cards were charged off. I will note the statuses below. I don't want to start paying them off until I have a good amount of info to try to get the chareoffs and negative information removed. Any tips, trick and advice to get negative info removed quickly and experience with these specific creditors is welcome!

Thank you!!!

Credit Cards

Capital One Quicksilver - 10 late payments, $628 balance, charged off

Captial One Platinum - 8 late payments, $885 balance, charged off

Synchrony Bank (Crate and Barrel) - $922 balance, charged off

Synchrony Bank (Ashley) - $234 balance, charged off

Synchrony Bank (Care Credit) - $1329, charged off

Loans

Moneylion - $708 owing, charged off 

Fig loans - $631 owing, charged off 

Collections

Verizon $447

Possible Finance $0 owing, paid off, but still reporting as collections

***I have two other collections accounts with National Credit system that have agreed to delete after payment***

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I hate to be the bearer of bad news, but there is no way to get mainstream issuers to remove those negative items quickly, even if you were to pay them off. You'll probably have to wait 7 years. But after 3-4 years those items will matter less and less.

[7774x]

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@NYC_Fella wrote:

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@queenbaddie24 wrote:

Hi all, 

There is so much valuable information on here, and I am reading through it all. I am in a rebuilding season as my payments were 100% until early 2022 where I was unable to make my payments due to being scammed out of a large sum of money. It became very hard for me to keep up with my regular bills. Fast forward to today, I have secured a wonderful 6 figure salary and career is on path - I now have the means to pay off my debt. 

Unfortuntaely in 2022 a lot of my cards were charged off. I will note the statuses below. I don't want to start paying them off until I have a good amount of info to try to get the chareoffs and negative information removed. Any tips, trick and advice to get negative info removed quickly and experience with these specific creditors is welcome!

Thank you!!!

Credit Cards

Capital One Quicksilver - 10 late payments, $628 balance, charged off

Captial One Platinum - 8 late payments, $885 balance, charged off

Synchrony Bank (Crate and Barrel) - $922 balance, charged off

Synchrony Bank (Ashley) - $234 balance, charged off

Synchrony Bank (Care Credit) - $1329, charged off

Loans

Moneylion - $708 owing, charged off 

Fig loans - $631 owing, charged off 

Collections

Verizon $447

Possible Finance $0 owing, paid off, but still reporting as collections

***I have two other collections accounts with National Credit system that have agreed to delete after payment***

---

I hate to be the bearer of bad news, but there is no way to get mainstream issuers to remove those negative items quickly, even if you were to pay them off. You'll probably have to wait 7 years. But after 3-4 years those items will matter less and less.

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Have patience  for next 7 years ,until baddies time out ...paid or not for COs ,Collections  ..they will haunt  you, with  credit denials right to  day baddies fall off credit report... citing" serious delinquency , public records of collections" statements for credit refusal.. Happened to me  ...Try to join  Credit unions like Navy /PenFed.. with your income you will  get faster access, to credit ,by very  good people. Good Luck

[FireMedic1]

Welcome @queenbaddie24 

Congrats on getting the means to pay past debts. Once all the CO's are $0 balance that will help some. No longer will they update monthly as a CO. But the fact remains the same. It will stay as the final outcome as a CO. Lates go with CO's That how they got there. There is no score changes with paid CA's. Some with FICO 9. You hit a curve and time will heal all things. Get everythig paid. Time will do the rest.

[ozzman469]

I can sympathize with your situation. 2018 was a bad year for my wife and I. We had a few accounts we got behind on and couldn't get caught back up on. We ended up getting some really bad advice (before me joining MyFICO) and it just went downhill from there. We almost went into foreclosure on our house as well. Towards the end of 2019 I ended up getting a new job that came with a sizeable increase in pay (went from $60k/year to $95k/year, and now with my recent 20% pay raise making just shy of $130k/year). This allowed us to move cross country, sell our house, and start fresh. The baddies are still there but have noticed that they are having a less of an impact each year. In fact, my overall on-time payment percentage has recently increased. Just give it time.

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@queenbaddie24 wrote:

Hi all, 

There is so much valuable information on here, and I am reading through it all. I am in a rebuilding season as my payments were 100% until early 2022 where I was unable to make my payments due to being scammed out of a large sum of money. It became very hard for me to keep up with my regular bills. Fast forward to today, I have secured a wonderful 6 figure salary and career is on path - I now have the means to pay off my debt. 

Unfortuntaely in 2022 a lot of my cards were charged off. I will note the statuses below. I don't want to start paying them off until I have a good amount of info to try to get the chareoffs and negative information removed. Any tips, trick and advice to get negative info removed quickly and experience with these specific creditors is welcome!

Thank you!!!

Credit Cards

Capital One Quicksilver - 10 late payments, $628 balance, charged off

Captial One Platinum - 8 late payments, $885 balance, charged off

Synchrony Bank (Crate and Barrel) - $922 balance, charged off

Synchrony Bank (Ashley) - $234 balance, charged off

Synchrony Bank (Care Credit) - $1329, charged off

Loans

Moneylion - $708 owing, charged off 

Fig loans - $631 owing, charged off 

Collections

Verizon $447

Possible Finance $0 owing, paid off, but still reporting as collections

***I have two other collections accounts with National Credit system that have agreed to delete after payment***

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[queenbaddie24]

Thank you so much for sharing your experiences. I know it wasn't an easy time.

In your scenario would you say paying off all your balances in full has been helpful or if notm which method or avenue did you take?

[queenbaddie24]

Thank you so much for the input - I think I will move ahead with paying them off. All the collections will be removed per my conversations with the agencies. I wish I didn't have these bad marks at all - my credit was literally spotless a year ago - but it's okay.

What I will be left with are the chargeoffs - do you think in your experience or what you have seen if any if I should try sending goodwill letters? One thing to note is all the chargeoffs for credit cards are from 2 creditors (Capital One and Synchrony bank).

[drewricomakeubu]

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@queenbaddie24 wrote:

Thank you so much for the input - I think I will move ahead with paying them off. All the collections will be removed per my conversations with the agencies. I wish I didn't have these bad marks at all - my credit was literally spotless a year ago - but it's okay.

What I will be left with are the chargeoffs - do you think in your experience or what you have seen if any if I should try sending goodwill letters? One thing to note is all the chargeoffs for credit cards are from 2 creditors (Capital One and Synchrony bank).

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I can vouch that sending letters to Cap One will do no good, I'm sorry. I have one charge off from them from when I was wrongfully convicted to a state mandated vacation and they still wouldn't respond. 

[ozzman469]

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@queenbaddie24 wrote:

Thank you so much for the input - I think I will move ahead with paying them off. All the collections will be removed per my conversations with the agencies. I wish I didn't have these bad marks at all - my credit was literally spotless a year ago - but it's okay.

What I will be left with are the chargeoffs - do you think in your experience or what you have seen if any if I should try sending goodwill letters? One thing to note is all the chargeoffs for credit cards are from 2 creditors (Capital One and Synchrony bank).

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The dilemma I faced were the collections I had from the charge-offs were easily removed once I negotiated and paid them off. That only removed the collection company. The original creditor still had the bad marks on them. To be fair though, I did see significant changes once all the collections were removed even though the orignal creditors had their remarks still on there. I had some mixed results in sending goodwill letters or disputing them outright. I'm at the point now where the ones I couldn't removed will be dropped off in a couple of years. It does suck they are still on there, but at the same time I'm not in a rush right now in trying to make any major purchases (namely a house). 

[MeredithLepore]

There are two ways to remove a debt collection from your credit report early. The first is to dispute it, but only do that if you can provide evidence that you’ve already paid the debt. The second is to pay off the debt and then ask the creditor for a “goodwill deletion.” They’re not obligated to do it, but some will if you’ve fulfilled your obligation in a timely manner. Best of luck!