Long story short, early 2018 I had good credit and 730+ and I had life changing things happen and let everything go delinquent. Fast forward to today and I want to turn everything around but dont know how to start or where to start. Items below are on my credit profile.. Thank you all in advance. I earn about $5,500 a month. Monthly expenses is about $3,300 a month. Rent, Food, Utilites, Car, Insurance and ETC all included. (Gas for the commute to work as well). So I have about $2,200 a month I can put towards my rebuild. I bank with Navy Federal if this makes any difference.
Current Scores: 525 Fico average, not sure it is even worth posting 
Open accounts:
Auto Loan $42k 72 Months @15.7% opened April 2023
NFCU NRewards $0/$750 Opened December 2023
NFCU Pledge Loan $900/$1,000 1 Year Term, Opened December 2023
AU on Target Red Card $200/$1,300. Added on December 2023 (Card has been open since 2004 no delinquents)
Charge Offs:
Wells Fargo CC $5,879 DOFD: 07/2018
Pen Fed CC $17,259 DOFD: 09/2018
AMEX CC $1,388 DOFD: 10/2018
Wells Fargo LOC $5,516 DOFD: 12/2018
Wells Fargo PL $4,559 DOFD: 12/2018
Lending Club Loan $4,190 DOFD: 12/2018
First Premier CC $943 DOFD: 02/12019
Discover CC $4,460 DOFD: 02/2019
Car Max $4,279 DOFD: 01/2020 (co-signer)
Toyota Financial $5,536 DOFD: 08/2020 (co-signer)
First Premier CC $572 DOFD: 06/2022
Collections:
Calvary Portfolio Services
Citi Bank CC $2,122 DOFD: 04/2019
Jefferson Capital Systems
Verizon Wireless $2,528 DOFD: 05/2019
LVNV Funding LLC
Web Bank Finger Hut $2,952 DOFD: 07/2019
Credit One Bank $613 DOFD: 02/2020
Midland Credit Management
Syncrony Bank $3,763 DOFD: 02/2019
Portfolio Recovery Associates
Citi Bank N.A. $4,738 DOFD: 11/2019
Capital One $895 DOFD: 10/2020
Credit Collection Services (I owe, but was told i owe a balance from 12 months ago at the time, so just moved on)
All State $495 DOFD: 09/2022
All State $127 DOFD: 09/2022
All State $95 DOFD: 09/2022
Hey, I just wanted to say welcome to the forums, and good luck on your rebuild. With patience you'll achieve all you're after.
I actually feel intimidated looking at your details, I would hate to give you bad advice for your circumstances, but a guru will come through!
Good luck!
Sorry for your troubles and welcome to the forum. When it comes to rebuilding, it takes time, and a lot of it. Given the amount of debt you have I'd strongly recommend you speak to a bankruptcy attorney at your earliest convenience.
I did it the other way and I paid for it for much, much longer.. Went 10+++ years cash only. Not that I advocate BK, but it would give you a much quicker path to recovery, not to mention probably some peace of mind.
@AhhKuhPrich wrote:Long story short, early 2018 I had good credit and 730+ and I had life changing things happen and let everything go delinquent. Fast forward to today and I want to turn everything around but dont know how to start or where to start. Items below are on my credit profile.. Thank you all in advance. I earn about $5,500 a month. Monthly expenses is about $3,300 a month. Rent, Food, Utilites, Car, Insurance and ETC all included. (Gas for the commute to work as well). So I have about $2,200 a month I can put towards my rebuild. I bank with Navy Federal if this makes any difference.
Current Scores: 525 Fico average, not sure it is even worth posting
Open accounts:
Auto Loan $42k 72 Months @15.7% opened April 2023
NFCU NRewards $0/$750 Opened December 2023
NFCU Pledge Loan $900/$1,000 1 Year Term, Opened December 2023
AU on Target Red Card $200/$1,300. Added on December 2023 (Card has been open since 2004 no delinquents)
Charge Offs:
Wells Fargo CC $5,879 DOFD: 07/2018
Pen Fed CC $17,259 DOFD: 09/2018
AMEX CC $1,388 DOFD: 10/2018
Wells Fargo LOC $5,516 DOFD: 12/2018
Wells Fargo PL $4,559 DOFD: 12/2018
Lending Club Loan $4,190 DOFD: 12/2018
First Premier CC $943 DOFD: 02/12019
Discover CC $4,460 DOFD: 02/2019
Car Max $4,279 DOFD: 01/2020 (co-signer)
Toyota Financial $5,536 DOFD: 08/2020 (co-signer)
First Premier CC $572 DOFD: 06/2022
Collections:
Calvary Portfolio Services
Citi Bank CC $2,122 DOFD: 04/2019
Jefferson Capital Systems
Verizon Wireless $2,528 DOFD: 05/2019
LVNV Funding LLC
Web Bank Finger Hut $2,952 DOFD: 07/2019
Credit One Bank $613 DOFD: 02/2020
Midland Credit Management
Syncrony Bank $3,763 DOFD: 02/2019
Portfolio Recovery Associates
Citi Bank N.A. $4,738 DOFD: 11/2019
Capital One $895 DOFD: 10/2020
Credit Collection Services (I owe, but was told i owe a balance from 12 months ago at the time, so just moved on)
All State $495 DOFD: 09/2022
All State $127 DOFD: 09/2022
All State $95 DOFD: 09/2022
What is your current income? There are a lot of derogatories here that will take time and a lot of money to help. Bankruptcy might be the best option at this point. You should definitely consult a bankruptcy attorney. In the meantime, take a look at the "bankruptcy" section of these forums. Good luck!
