Hello I'm in need of some advice I was unemployeed for about 5 months and my credit cards really got away from me and i wasn't responible enough to make arrangements when i first lost my job. But here's my situtation I would like to be able to get my score back to the 700s but there is so much outstanding debt I'm not sure how to get there. Here is a run down of what I have below. I want to be able to buy a home in the next 8-12 months and i have about $800 I can put towards old debts a month outside of my normal payments. Any advice will be appreciated on if I should even pay these COs or not. I am leaning towards paying them but of the ones i've already paid they have done nothing to increase my score but i read that if I want a mortgage I can't have any charge off debt. Thank you all in advance for your help.
Current Score: 4/21/19
Currently Bank with USAA and Navy Federal for everyday usage.
Care Credit: $290.00(Bal). $800 CL
Cap 1 Secured: $250(bal). $510 CL
Gettington Card: $0(bal). $300 CL
Milestone Credit Card: $0(bal) $300 CL was 90 days late(now current)
PenFed Credit Lline: $466(bal) $500 CL
Total Visa: $173(bal) $300 CL was up to 90 days late (now current)
American Honda Finance- $34,000($710/month no lates)
Cap 1 Auto- $12,892($410/month no lates)
Student Loan- $66,000( was deferred but started making payments again 150)
CO Accounts(All showing Bals holding up my utilization):
Amazon Card- $149 (Scheduled to be paid 5/3)
Target Card- $388 (Scheduled to be paid 5/3)
CFNA Card- $898 (no plan yet on this one)
Credit One- $532 (No plan yet)
First Premier- $852 ( No plan yet)
First Premier- $756 (No plan yet)
Cap 1 Unsecured- $2344 (no plan yet)
Nordstrom Card- $884 (paying 150/month for 6 months on month 2 currently)
Walmart- $638 (no plan)
Sams- $436 (No Plan yet)
PDQ Service Medical- $455 (No plan Yet)
Bloomindales Card- $0 (paid CO)
Macys Card- $0 (Paid CO)
Regional Acceptance(voluntary repo)- $8433 from 11/2013 still showing opened
Hi and welcome!
Your score will not increase by much until those COs are resolved, even with positive accounts reporting. If they are updating (even just one), it will hold your scores down.
Are they still with the OC or have they been referred to collections? If so, which CAs? Some may be amenable to PFD.
If they are not falling off any time soon, your best option is to pay and with $800 a month, you can do it in reasonable amount of time if you wish to do so.
As far as medical collection goes, I took a liberty of copying and pasting @gdale6 suggestion on how to handle those, so here it is
For unpaid medical debt that is reporting on your CR:
1. Call the OC and see if insurance can be billed, if not then
2. see if you qualify for Charity Care, if not then
3. ask that they recall the collection in exchange for full payment
4. Send the reporting CA a PFD offer
5. Google the HIPAA Process and contact its creator for help
They are all currently with the OC. I'm calling around trying to establish a monthly plan to see if that will prevent it from going to external collections. I will try the suggesstion with th emedical debt also. Thank You.
Yes, Amazon and Target will be paid off on 5/3. I'm like you I get more gratification paying items off in full so I am trying to pay the ones that are less than 500 completely off each pay period to check them off. I didn't ask Amazon or Target or Macy's or Bloomingdale's for a Pay for deletion is it too late to go back and ask them for that now?