Help me Rebuild: Collections, Lates

[andemalia]

Thanks mewmomnewme,

I am working on recent accounts and collections first just like you suggested. I realized i have 4 collections on the TU report, only 2 on EQ. So will work on those and GW for all baddies starting with most recent first.

Yes I will keep my utlization low. I actually dont need the card, I just wanted to have another tradeline that I can keep positive since I was told not to only focus on the negative but also work on establishing positive tradelines. I will keep a balance of 9% or less on it.

Thanks for your advice.

[andemalia]

Hello startingover,

Ok, for the refinancing advice, I will wait until then, that way it'll less inquiries anyways. The loan was for a lil over $9k, they arent really applying much to the principal which is frustrating but oh well.

I just got off the phone with EOS CCA for a collection on my TU report for ATT and the lady was so nice and courteous and offered to resolved the account for $200 on a $307 (original balance $243) by end of the week. I asked her if they would consider delete the whole tradeline if I paid right away, she said yes. When we were done, I told her how nice she was and thanked her, she then asked me if I could hold on for her manager and tell him that, which I did, and had him confirm the deletion of the TL. He said they update every friday but the credit bureau might take a lil longer to update with the deletion. I had to fax her something in writing saying I wouldn reverse the charges and they promise to send me a fax back confirming deletion on TL if I wanted written confirmation. So waited impatiently for the update.

[andemalia]

Another update,

Ok, either I'm very blessed or it's just strange. I spoke to someone from AMCA for a $72 for Labcorp and I asked him if they would consider deleting and he said yes it will be gone from my credit 30 days from this call. I had him repeat it 4 times because I couldn't believe they would do it so easily. I ask for something in writing, he said they dont do that but he had no reason to lie to me, that the whole TL would be removed.

I have read advice here about not discussing TL on the phone, and the fact that I have no guarantee it will be done is not helping but, like I have also read some people experience being promised a TL deletion for payment over the phone and the deletion being honored.

Thats 2 collections that will be removed (if all goes well), that easily, over the phone... I dont know if it's supposed to be that easy. Somebody reassure me please...

[newmomnewme]

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@andemalia wrote:

Another update,

Ok, either I'm very blessed or it's just strange. I spoke to someone from AMCA for a $72 for Labcorp and I asked him if they would consider deleting and he said yes it will be gone from my credit 30 days from this call. I had him repeat it 4 times because I couldn't believe they would do it so easily. I ask for something in writing, he said they dont do that but he had no reason to lie to me, that the whole TL would be removed.

I have read advice here about not discussing TL on the phone, and the fact that I have no guarantee it will be done is not helping but, like I have also read some people experience being promised a TL deletion for payment over the phone and the deletion being honored.

Thats 2 collections that will be removed (if all goes well), that easily, over the phone... I dont know if it's supposed to be that easy. Somebody reassure me please...

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Whooooo Hoooo!!!! That's awesome!!!! keep it up!!

[starting_over30]

That's awesome, when I was paying off my collections I didn't even think to ask about having it removed - I was only asking when they would report it as being paid off.  Great job!!

[andemalia]

Newmomnewme and starting_over30,

Thank you guys so much for the encouragement... Preparing a PFD letter for my $1013 Midland and hopefully they accep to delete it. They had sent me a settlement letter last month for $607 to which I didn't respond because I really didnt know better, That deadline has passed but they mentioned at the bottom of the letter that due to expired SOL they can't sue but will keep reporting. It's giving me confidence to send a PFD for an amount close to the settlement amount. I'm thinking lowball $615.00 for deletion. What do yall think?

[denver133]

I think offering that amount for PFD is a great start.  You might not get a response but you could get another settlement in the mail.  Read that settlement carefully!!!  They might say that it will settle the account, however it will still be listed on your report.  None the less, get it down to zero either by settling or a PFD.  Cause its a lot easier to GW on a $0.00 account vs. stressing if you will get sued for something that is $2,000.

Keep up the good work.  

[andemalia]

denver133 and whoever is interested,

I just got 2 letters from EOS CCA in the mail saying: 1st letter: account settled in full as of 10/28/13, I paid $200 on a $307 collection that EOS CCA bought from Asset Management who first collected the debt from ATT.   2nd letter: "This is to inform you that our client has closed the above mentioned account with our office. Any account information reported to TU, EQ and/or EX by our company will be deleted". Deleted means deleted right? I mean the whole thing?

Oh, Also, I just got a 24-point boost on the EQ from the reporting of the secured credit card from BoA we just got. It went from 573 to 597, only the EQ though, I wish they would report to TU so that I can cross the 600 mark.

[andemalia]

Hey all,

Some updates after not posting in so long. First thanks my good people for your contributions!!

Midland did delete after I was getting ready to send a second PFD letter. They had never responded to the first one. I never had to pay them. Oh well...

The apartment collection with FCO is still there. I paid it off end of January this year. This shows as paid in full but would prefer it gone. So I'll try a few strategies. This is my newest collection after Midland deleted. I guess it starts aging from the last time it was updated? 

We ended up moving out of townhouse that we were renting for $2000 (rommate was paying $750). We were approved for the apartment easily. I do have to add that I was hired by the client company where I work (I have been working for a staffing agency for the past 2 and a half year and everytime my contract is up and there are talks or turning me into perm they would pull me out and send me some other place) so that was an increase in income.

My credit has been cleaned up pretty good except for a few things but I have not that big of an increase in score. However, I felt like I have learned so much and the lessons are invaluable. My EQ as of today is 627 with the paid medical collection from 2010 and the FCO collection from March 2013 PIF in January 2014. 

I started this process with no credit cards. I got a secure one from BoA in October 2013 then another secured from Cap1 in December 2013 and refinanced our car $8500 at almost 16% from 24% in December 2013. We kept our balances under 20% except once or twice and aways paid on time.

In early June, our $300 secure cap1 CC automatically double its limit at $600 without us asking. So we decided we wanted new furniture and decided to apply for financing for about $800 at the furniture store. We were instantly approved for $1000 from GE RCB 6 months no interest.

That gave us a boost of confidence. So we came home a few days later applied for the Cap1 Quicksilver credit card. Credit karma said our odds were very good and we established a good rship with Cap1 with the secure CC and the car loan. We were approved for $2000. We were ecstatic and said no more until October when our BoA secure would be 12 months old.

Haha!! We had the itch and although the guy at the bank had told us the card doesnt graduate and they would not be any limit increase unless we put money on it, I had read otherwise on credit karma. We call the number in the back of the card and they unsecured the card, raised the limit to $1500 and refunded out $300 within 5 minutes. We got excited and applied a few minutes later for the Barclay Rewards card, got approved for $1k.

Now we are truly in the garden with 8 inquiries in the past year (including apartment credit check and verizon credit check).

Our next goal is get to the 700 or at least high 600 by the end of the year for a home. Our strategy will include try a delete with FCO and keeping our balances under 20%, closer to 10% if possible. And also set up out budget so that we are ready to apply for a mortgage loan right after we get some tax refund money back.

I am not sure how fast we can get to 700 just with the CC but I guess we will be finding out...

I will keep you all posted!!

Thanks everyone for contributions and inspiration. I learned almost everything from here and I am so immensily grateful

[celticslegends]

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@andemalia wrote:

Hey all,

Some updates after not posting in so long. First thanks my good people for your contributions!!

Midland did delete after I was getting ready to send a second PFD letter. They had never responded to the first one. I never had to pay them. Oh well...

The apartment collection with FCO is still there. I paid it off end of January this year. This shows as paid in full but would prefer it gone. So I'll try a few strategies. This is my newest collection after Midland deleted. I guess it starts aging from the last time it was updated? 

We ended up moving out of townhouse that we were renting for $2000 (rommate was paying $750). We were approved for the apartment easily. I do have to add that I was hired by the client company where I work (I have been working for a staffing agency for the past 2 and a half year and everytime my contract is up and there are talks or turning me into perm they would pull me out and send me some other place) so that was an increase in income.

My credit has been cleaned up pretty good except for a few things but I have not that big of an increase in score. However, I felt like I have learned so much and the lessons are invaluable. My EQ as of today is 627 with the paid medical collection from 2010 and the FCO collection from March 2013 PIF in January 2014. 

I started this process with no credit cards. I got a secure one from BoA in October 2013 then another secured from Cap1 in December 2013 and refinanced our car $8500 at almost 16% from 24% in December 2013. We kept our balances under 20% except once or twice and aways paid on time.

In early June, our $300 secure cap1 CC automatically double its limit at $600 without us asking. So we decided we wanted new furniture and decided to apply for financing for about $800 at the furniture store. We were instantly approved for $1000 from GE RCB 6 months no interest.

That gave us a boost of confidence. So we came home a few days later applied for the Cap1 Quicksilver credit card. Credit karma said our odds were very good and we established a good rship with Cap1 with the secure CC and the car loan. We were approved for $2000. We were ecstatic and said no more until October when our BoA secure would be 12 months old.

Haha!! We had the itch and although the guy at the bank had told us the card doesnt graduate and they would not be any limit increase unless we put money on it, I had read otherwise on credit karma. We call the number in the back of the card and they unsecured the card, raised the limit to $1500 and refunded out $300 within 5 minutes. We got excited and applied a few minutes later for the Barclay Rewards card, got approved for $1k.

Now we are truly in the garden with 8 inquiries in the past year (including apartment credit check and verizon credit check).

Our next goal is get to the 700 or at least high 600 by the end of the year for a home. Our strategy will include try a delete with FCO and keeping our balances under 20%, closer to 10% if possible. And also set up out budget so that we are ready to apply for a mortgage loan right after we get some tax refund money back.

I am not sure how fast we can get to 700 just with the CC but I guess we will be finding out...

I will keep you all posted!!

Thanks everyone for contributions and inspiration. I learned almost everything from here and I am so immensily grateful

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Thanks for sharing your story.  It gives me hope.  All it takes is time and discipline.  Good luck buying your new home.  I hope it all works out for you!