Help, 25-29 negatives I don't know were to begin, feeling very trapped!!!!

[Anonymous]

Hi everyone

 I am new to this site. I have been reading all the suggestions but I am feeling very overwhelmed because I have so, so many negatives on my credit reports, at least 25-30 negatives (as a result of a long time dysfunctional relationship) on each report. And believe it or not there were more, until I disputed some. Now I am to the point to were I cannot dispute anything else through the major credit agencies and I don't know what to do next. Everything on my credit is within the last 4-5 years and comes to a total of $8,000 included 4 credit cards totaling about $1500(which have no lates,but a couple have went over the limit) the rest are medical, utilities, cell phones and misc. I am a single mother of 4 children and will be graduating from pharmacy school in 2 years but the way my credit looks now I probably will not be able to buy a house once I graduate. And I also have a car note that I am paying over a 20% interest rate, so I really need to try to refinance this note, but of course good credit is needed to do this. Someone please help me!!! I have already pulled all 3 reports, what is my next step.

All responses are greatly appreciated and needed!!!

EQ-511 EXP-512 TU-550

[llecs]

Without getting into specifics, you can bring your score up in a very short amount of time. I bet you can hit 650 within 5-6 months without a doubt.

Draw a line in the sand and make sure nothing else happens. Stop the bleeding if you know what I mean.

Get organized. Read, read, read, read, and read these forums. Start with Credit Scoring 101 and the post listing the abbreviations. Take the advice offered here and tackle one thing at a time. Post specific questions with each baddie in a new post and people will respond.

Welcome to the forums, btw!

[smallfry]

I hope you are getting financial aid for the children if you are legally entitled. Best of luck.

[Phoenix-rising]

Welcome to the forums kst.

The first thing is what llecs said.  Stop the bleeding now.  Make sure that not one new negative item appears on your credit report.  Time can heal a lot of things.  One recent late payment will have a drastic effect on your score.

My advice would be to tackle the most recent baddies on your report with PFD or GW letters.  The more recent items have the biggest effect.

I know it's not easy being a single mother or coming out of a long time dysfunctional relationship.  Climbing back will be hard work, but it CAN be done.

Read, read, read. You can gain a wealth of information here.  Patience and persistence are your friends.

Good luck.

Message Edited by Phoenix-rising on 07-10-2008 06:48 AM

[Anonymous]

First of all--deep breath.

Do whatever you have to do to take a few minutes out for yourself and get organized. Make a list of everything you need to fix. You can't do everything at once, so pick one or two at a time and tackle those.

You wont' be able to refinance the car til you get your scores higher, so that goes at the bottom of the list for now.

Keep reading through these forums. People who were just as desperate as you managed to climb out of their holes, and you can too.

Good luck! Keep posting, and asking questions. Everyone here wants to help. You'll get better answers if you post specifics. Once you decide where you want to start, ask away!

Without knowing anything else, you said your credit cards have no lates. That's great! Maybe you can call the card companies and get your limits increased. Then your overall utility will go down, and your scores will rise just from that.

[Anonymous]

You want to know your SOL before you begin doing anything.

You can find that here -

http://www.bankrate.com/brm/news/cc/20040116b2.asp

Then you want to know DOFD and DOLA for the accounts in question.

Any accounts that are within SOL and you aren't prepared to pay immediately if needed, I wouldn't touch.

Try to match up all CA accounts with an OC. Look for duplicated CA listings for the same OC.

Then, I'd list one or two accounts here(however you are comfortable dealing with at one time) and ask any specific advice that you need about the accounts.

Take a deep breath and relax. Know that it can be done and everyone here is ready to help you.

[fishbjc]

Congratulations to you for having the guts to end that relationship.  

[Anonymous]

Thanks Everyone for the encouragement and advice!!! I have decided to tackle the duplicates first.

[Anonymous]

In my mind, credit repair is a war with two fronts.

---

The first front is the TODAY AND THE DAY AFTER THAT:

This is the front with the line in the sand.  You say to yourself:  "No more negatives.  No more lates, no more dumb spending, no more ignoring the letters in the mail, I will start a calendar and use it, I will start a spreadsheet and use it.  I will face reality, and it starts NOW."

(It helps if you picture yourself as Russell Crowe in Gladiator as you say this.)

This front is the most important front, because, as others have said, time does heal your credit score.  After two years, a lot will be healed if you win the battle on this front.  From my point of view, it seems that after two years, the wounds become scars, and after 7 years even the scars heal.

---

The second front is YESTERDAY AND THE DAY BEFORE THAT:

Once you've establish your battle lines and secured your troops on the first front, then you can use some of that energy to work on this second front.  The forums here will give you all the advice that you will need for this part of the war. 

Each of the negatives on your CRA is going to be a skirmish.  Use the forums, develop a plan, and implement.  One skirmish at a time.  It's a long haul action, it will take time.

The first front always requires immediate action and energy, and a sense of impatience.  Do not ignore anything in your mailbox that could even remotely possibly be a bill or a summons or anything like that.  Do not ignore any bills that you know you may have that aren't making it to your mailbox.  Open everything, face the pain, make a plan, and keep moving.

The second front requires careful thought, and research, and letter writing, and a sense of patience and perserverance.  You will win some and lose some.  You may lose ten in a row, but man, when you win number 11, that's an awesome feeling.  Use the forums to vent and for encouragement and keep moving. 

That's everything I learned from these boards.    I don't think you are in as bad of a position as you may think.  

-RT

[llecs]

RandomTroubles wrote:

(It helps if you picture yourself as Russell Crowe in Gladiator ......)

My name is Maximus FICOtus Creditus, Decimator of baddies everywhere, Conqueror of CAs, OCs, and lates, loyal servant to the MyFICO Forums and FICO Barry. Been wronged by CAs like AFNI and Arrow. And I will have an 800 score in this life and not the next.