Help with rebuilding process!!

[Anonymous]

Before I get into all the technical info I'd just like to state that I really appreciate all the information and help people share.  All this information is very difficult to process when you are completely oblivious to the ABC's of credit and credit management.  I'm feeling a little overwhelmed on where to start and greatly appreciate any help you can give me on structuring my rebuilding process.  In advance, I'd like to say Thank you!

My current FICO scores provided by TrueCredit are as follows: TU 626, EX 603, EQ 644

I'll start with the negatives:

I currently have two paid Collection Accounts showing on my reports that report to all three bureaus.

1.  Medical collection for $170 which shows the date opened as 01/2006.  The last date reported was 03/2008 when I paid it.

2.  Non-medical collection of $181 which shows the date opened as 05/2002.  The last date reported was 03/2006 when it was paid.

Both of those have been paid and they were my debts which I neglected to pay.

I have one satisified judgement on my report for $360 reported on 03/2004.  Which was my fault and has been satisfied.

I currently have two accounts in the process of collection, but yet to be reported to the credit bureaus. Both of which I do owe for.

One is for medical bills totaling around $2,000.  A second is for around $500.

On to the positives (I think):

I have one paid 24 month installment loan of $5800 from Aaron's sales and lease that was opened on 08/2006 and reported as paid with no balance on 08/2008.

I was recently approved  for a Captial One Platinum MC with a CL of $1000 and a guaranteed CLI after 90 days assuming of course all conditions are met (used at least once and no late playments).

Ok, so now for my questions on how to proceed.

In regards to the two paid old collection accounts (one medical & one non-medical collection).  Should I start the HIPPA process for the medical collection and send a goodwill letter for the non-medical collection?

How should I proceed in setting up payment plans with the two current unpaid collection accounts (one medical & one non-medical) that have not yet been reported to the credit bureaus?  I do owe both and they will be paid.

Is there anything I can do with the judgement other than just let the reporting SOL run out?

What are realistic options in applying for credit in order to rebuild?  Where should I start?

Again, thank you for your time!

[laz98]

Those are not FICO scores.  The only place you can get real FICO scores is here at myfico.com.

[Anonymous]

For paid medical collections. Use the HIPAA process. ALL letters must be in order and you can not skip a step!!!

Ask as many questions as you need   it can be very confusing!

Medical must be PIF before the HIPAA process!!!!!

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=27537

2.  Non-medical collection of $181 which shows the date opened as 05/2002.  The last date reported was 03/2006 when it was paid.

      The date paid or date reported doesn't matter. What you need to know is the DOFD  It should drop from your CR 7-7.5 years from DOFD

       Who is reporting....who did you pay

       IF this is a CA reporting the open date as 2002........that should be the date that they were assigned it or bought. This date would be past  the DOFD!!     You must default before a creditor CO and sends to a CA!

        IF the 2002 date is your DOFD then it will drop from your CR in 2009

Keep CC UTIL under 9%  for best scores.

 Remember FICO doesn't care if a collection is paid or unpaid   they are scored the same.

Never dispute anything that is bad and might not have reported in awhile. It will cause it to be updated & may pull your scores down!

Medical debt owed..... CALL the provider & set up payment arrangements  get it in writting!!! make small payments with the OC....make sure that you can make all the payments. IF you can afford more then the agreed amount do so. You want it PIF ASAP!

Do not miss a payment or they might cancel your agreement!!!

Non med collection......Know the DOFD and send GE letters to whoever you paid.

Message Edited by HappyDays on 11-17-2008 10:51 PM

[Anonymous]

Ok FICO scores I pulled directly from MyFICO are as follows TU 624 EQ 631EX 641.

How would I go about finding the DOFD for the past collections?

I paid Alliance One (CA) for the old medical collection and LEI financial (CA) for the old non-medical collection.

I've read that a utilization of 3-9% per card is the best way to show management and exactly what I plan on doing.