Help! Where do I start? I am ready to do better in life!

[Anonymous]

Hello All!

I am so thankful for these forums and I have enjoyed reading challenges tips and success stories. I am in the process of rebuilding my credit. I have reviewed my credit reports on and compiled a list of my debts. Please help! I have several questions. 

***Chapter 7 Granted 06/2015***

***Currently working through uncontested divorce***

First, my goals:

1. 680 across the board in 2 years

2. Pay off all debt in 2 years/ Student loans in 7-10 years

3. Relocate to the midwest and buy a home in 3 years

4. Stay current on all my revolving lines for the next 12 months..... into perpetuity

5. Look at purchasing my first franchise in 5-10 years

My questions:

1. Should I decrease my savings and get agressive with paying off bills less than $700 over the next 6-8 months? Or do I establish payment arrangements?

2. With my current credit cards, should I continue to make slightly higher than the minimum payment required and pay down past dues first, or should i pay off my credit cards, then work towards paying off my past dues?

3. How should I approach my high dollar debts, settlements with payment arrangements? Is it harmful to make payment arrangments, or will that show stable payment history?

Here's where I am currently. Any suggestions will be greatly appreciated! Thank you for your time!

ORIGINAL CREDITOR	DAYS PAST DUE	DoOD	AMOUNT PAST DUE
ACCEPTANCE NOW		3/30/2020	$                       3,935.00
EASYPAY FINANCE		9/1/2018	$                       2,358.16
WESTLAKE FINANCIAL		10/1/2017	$                       3,405.00
COMCAST			559.00
PROGRESSIVE		10/27/2016	$                          328.00
CENTRAL OHIO ROOT CANAL		10/25/2018	$                          438.00
CHARTER COMMUNICATIONS		5/1/2020	$                          462.00
ATT DIRECTV		10/22/2018	$                          655.00
ATT U VERSE		11/5/2019	$                          208.00
ASPEN DENTAL		2/22/2019	$                             92.00
AMERICAN ELECTRIC		8/30/2018	$                       1,168.00
CNAC	CO	9/1/2018	$                       5,740.00
TEMPOE LLC		10/9/2015	$                       1,202.00
TOTAL VISA		1/1/2020	$                          488.00
MERRICK BANK (CL $600)			$                          620.00
CREDIT ONE CURRENT (CL $400)			$                          300.00
CAPITAL ONE (CL $500)			$                          475.00
FINGERHUT (CL $400)			$                          407.00
MONEYLION		5/1/2020	$                          451.00
ACIMA		1/1/2018	$                       3,528.00

Thank you again!!!

[RSX]

welcome!

step 1 in my opinion is to use your savings to pay down these asap - today if possible

they are currently Maxed and Overlimit on some - this is bad

MERRICK BANK (CL $600)			$                          620.00
CREDIT ONE CURRENT (CL $400)			$                          300.00
CAPITAL ONE (CL $500)			$                          475.00
FINGERHUT (CL $400)			$                          407.00

Pay down Merrick to $525

Pay Down Capital One to $440

Pay Down Fingerhut to $350

[Anonymous]

Thank you so much for your response @RSX That's what I was thinking too. 

[RSX]

no problem  - after that first step i would tackle these ones next

PROGRESSIVE		10/27/2016	$                          328.00
CENTRAL OHIO ROOT CANAL		10/25/2018	$                          438.00
ATT DIRECTV		10/22/2018	$                          655.00
ATT U VERSE		11/5/2019	$                          208.00
ASPEN DENTAL		2/22/2019	$                             92.00

Call each of them and see if they will settle for a lower amount - if they say no - pay in full

also ask if they will delete if you pay it off

this is the only way they will stop reporting monthly on your reports

i think you can expect a 50% payoff for the ones over 2 years

make sure you keep the post above as a Snapshot

in the next couple of months you might get discouraged - but if you keep looking back at the Snapshot, it will show you the progress you have made

good luck to you

[Anonymous]

@RSX Snapshot taken! I'm going to print it and post it in my planner. Thank you again! 

When asking for the pfd, should I send out certified letters or ask during my call?

[RSX]

happy to help

with the PFD, i haven't actually done one - i have only read about them on here

i believe most of it is verbal, since you are calling them on the phone for the payoff negotiation

you should be able to ask for it in writing though