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Helpless at this point

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Anonymous
Not applicable

Helpless at this point

Hello,

I need some help and I would greatly appreciate your input.

My current scores are:

Trans- 531
Equifax-542
Experian- 542

I have following cards:

Capital one- limit 600 balance 90.00 just paid
Ulta credit card-400 balance 0
Victoria secret 450 balance 0
First premier 700 balance 120 just paid
First premier 300 balance 0 just paid
Credit union loan 4100 ( opened in September/ never late)

Credit one/ closed balance 350 making 75.00 monthly payments

I have tried writing a GW letter to Credit One and no success.

I just can't win, i need some advice on what I can do to increase my credit score.

I had previously 16,000 loan with credit union that I have paid off before time never late and it wasn't reported to my credit. I've contacted them and they said they will add that to my credit and still haven't seen it on there.

Thank you!
Message 1 of 11
10 REPLIES 10
RobertEG
Legendary Contributor

Re: Helpless at this point

If you currently have a closed account with a balance, they are highly unlikely to agree to deletion of any reported derogs until the debt is first discharged.  I would suggest waiting until you have paid the entire debt to pursue continued requests for good will deletion of accurate reporting.

Message 2 of 11
Anonymous
Not applicable

Re: Helpless at this point

Just a few things I noticed as well.

 

Creditors aren't required to report to the bureaus.  They reserve the right to, of course, to make sure you pay but I think the creditor has to pay some sort of fee to be able to report in so you'll find smaller companies only reporting to one.  I would be sure that whoever you want to report in is actually what is called a subscriber or able to report to the bureaus.  

 

I think also additional information is required so that we can see where you can best focus your efforts.  Include things such as how long each card has been open, if you have ever been late and if you have any collections/charge-offs/baddies elsewhere.  

 

I know it's easy to get discouraged.  But the gurus here are amazing and have helped me tremendously.  If they can help me then it's quite possible they can help anyone  Smiley Happy.  My scores were about where yours are when I started to really pay attention to my scores.  Along with my ADHD necessity to have instant results it was an exercise in patience.   Hang in there.. if you can answer the questions I mentioned we'll see what we can do to get your scores up.

Message 3 of 11
jlitnns
Established Contributor

Re: Helpless at this point


@Anonymous wrote:

Just a few things I noticed as well.

 

Creditors aren't required to report to the bureaus.  They reserve the right to, of course, to make sure you pay but I think the creditor has to pay some sort of fee to be able to report in so you'll find smaller companies only reporting to one.  I would be sure that whoever you want to report in is actually what is called a subscriber or able to report to the bureaus.  

 

I think also additional information is required so that we can see where you can best focus your efforts.  Include things such as how long each card has been open, if you have ever been late and if you have any collections/charge-offs/baddies elsewhere.  

 

I know it's easy to get discouraged.  But the gurus here are amazing and have helped me tremendously.  If they can help me then it's quite possible they can help anyone  Smiley Happy.  My scores were about where yours are when I started to really pay attention to my scores.  Along with my ADHD necessity to have instant results it was an exercise in patience.   Hang in there.. if you can answer the questions I mentioned we'll see what we can do to get your scores up.


I agree, there must be some info missing and some other baddies on there. Sometimes it just takes time to recover and you feel stuck but don't be discouraged and stay positive. Smiley Happy


Message 4 of 11
bourgogne
Valued Contributor

Re: Helpless at this point

how was the credit one closed?  charge-off, grantor, what?  what are your negs or derogs and why do you need higher scores?

Message 5 of 11
Anonymous
Not applicable

Re: Helpless at this point

I've looked into my credit very detailed and these are some things that have hurt my credit in the past.

I have had 3 lates with Ulta 01/16,03/16 and 04/16
2 lates with Credit One Bank
2 lates with First Premier Bank

All around the same time. I had thousands of dollars of medical bills dx (Brain lesion) which I paid some out of pocket and 4 went to collections in 2016.

I am trying really hard to stay positive and keep working towards improving my credit but I haven't seen much change since I have really started paying attention to details on my credit.

Granted I've had some really high credit card utilization and I lowered it all down just recently to a 0.

My capital one is four years old, first premier and ulta two years old.

If I don't use my credit cards at all for next two months will I see any credit score increase? I'm desperately trying to rebuild my credit as everyone else.

Thank you so much for your help.
Message 6 of 11
bourgogne
Valued Contributor

Re: Helpless at this point


@Anonymous wrote:
I've looked into my credit very detailed and these are some things that have hurt my credit in the past.

I have had 3 lates with Ulta 01/16,03/16 and 04/16
2 lates with Credit One Bank
2 lates with First Premier Bank

All around the same time. I had thousands of dollars of medical bills dx (Brain lesion) which I paid some out of pocket and 4 went to collections in 2016.

I am trying really hard to stay positive and keep working towards improving my credit but I haven't seen much change since I have really started paying attention to details on my credit.

Granted I've had some really high credit card utilization and I lowered it all down just recently to a 0.

My capital one is four years old, first premier and ulta two years old.

If I don't use my credit cards at all for next two months will I see any credit score increase? I'm desperately trying to rebuild my credit as everyone else.

Thank you so much for your help.

I am sorry for your medical issues, I truly am.  I am not going sugar coat my thoughts.  the word 'late' in itself means nothing.  list all your cards and what kind of late next to it.  cap1: 30d, 1st prem: 60d x2, etc.  a complete easy to understand list.  in fico 35% of the pie is for payment history.  there is a simple rule in credit, never ever be late.  do you have a car loan, lease, home, etc. in place?  do you have any charge-off accounts?  any collection should have been a pfd, were they all, is there any collection reporting and if so list it.  my sense is if the lates coincide with your med issues then some well written goodwills will be part of the answer towards better scores.  rebuilding is all in the details and you have to have a clear, concise road map to follow.  aside from PR stuff;  liens,  judgements, bk - the items that follow are charge-offs followed by late payments.  if all your lates are 30d + then you have a lot of work ahead of you.

Message 7 of 11
Anonymous
Not applicable

Re: Helpless at this point


@Anonymous wrote:
have had 3 lates with Ulta 01/16,03/16 and 04/16
2 lates with Credit One Bank
2 lates with First Premier Bank

If you have a late payment in 1/16, 3/16 and then 4/16, odds are that one of them is going to be a 60 day late payment.  Whether or not you made a payment in 2/16 is important.  It could determine whether or not the other ones are 90 or even worse 120 days late.  The fact that you are late, alone, does not really tell us much.  

All around the same time. I had thousands of dollars of medical bills dx (Brain lesion) which I paid some out of pocket and 4 went to collections in 2016.

I'm sorry to hear about your medical issues.  First off, you should know that money comes second to health and you should focus on getting healthy again first.  The CRAs and the CAs will always wait for you -- don't worry.  You need to pull your report if you haven't already and with a pen go through each item line by line.  Then when you feel you have a solid grasp on all your accounts -- we can work on getting you on the right path.

 

I am trying really hard to stay positive and keep working towards improving my credit but I haven't seen much change since I have really started paying attention to details on my credit.

Repairing your credit takes time.  Anyone who tells you there is a quick fix is lying or trying to sell you something.  


Granted I've had some really high credit card utilization and I lowered it all down just recently to a 0.

Remember that utilization only counts for a small percentage of your overall score.  

My capital one is four years old, first premier and ulta two years old.

Your account's age is important but not as important as payment history (35%).


If I don't use my credit cards at all for next two months will I see any credit score increase? I'm desperately trying to rebuild my credit as everyone else.

If you have four accounts that are in active collections - I don't see that being likely.  What is important to focus on is responsibly using credit not going out of your way to not use it.  


Thank you so much for your help.

For each of your open accounts, list the open date, the limit, the balance, the date of any late payments and the current status of the account (collection, charge off).  Then once we have this list we can help.


 

Message 8 of 11
jlitnns
Established Contributor

Re: Helpless at this point


@Anonymous wrote:
I've looked into my credit very detailed and these are some things that have hurt my credit in the past.

I have had 3 lates with Ulta 01/16,03/16 and 04/16
2 lates with Credit One Bank
2 lates with First Premier Bank

All around the same time. I had thousands of dollars of medical bills dx (Brain lesion) which I paid some out of pocket and 4 went to collections in 2016.
-Get these paid off ASAP, I know when I review credit reports I see medical bills and lots of cell phone, internet, TV collections for small amounts and I usually look past them if they are paid. If not, I'm wondering why the heck someone isn't paying a $200 collection bill. I know banks/credit cards look at it differently than I do and have models and automated systems but this is still important.

I am trying really hard to stay positive and keep working towards improving my credit but I haven't seen much change since I have really started paying attention to details on my credit.
-Staying positive is key, like the others have said above there is no quick fix. It will take time and that's okay.

Granted I've had some really high credit card utilization and I lowered it all down just recently to a 0.
-Keep your utilization low. If you don't have the money in your bank account to pay off the card then you don't need it.

My capital one is four years old, first premier and ulta two years old.

If I don't use my credit cards at all for next two months will I see any credit score increase? I'm desperately trying to rebuild my credit as everyone else.

Thank you so much for your help.

 


Message 9 of 11
marty56
Super Contributor

Re: Helpless at this point

You are never helpless here.  Sure it could take 7 to 10 years to repair your credit but you can.  It took me almost 10 years to do that and it was my fault in the first place.  Controlling how much is reported on your CR is the real battle. Everything else just takes time. 

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 10 of 11
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