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I Need A Strategy - PLEASE HELP!!!

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I Need A Strategy - PLEASE HELP!!!

Hello everyone, newbie here. I'm so overwhelmed, but determined to fix my credit issues. I need help with formulating a strategy. Any advice on what I should tackle first? You guys are so well informed ...Any tips would be greatly appreciated. 

Thank you

 

Charge Offs

 

Wells Fargo $135, Last Payment 8/18, Credit Limit $300

CWS/CW Nexus: $2,099  Orginal Limit $1,100, Last Payment 8/17

First Premier Bank: $681, Orginal Limit $500, Last Payment 8/17

Fingerhut $0, Last Payment 5/17

Commenity Bank/Victoria: $0

Credit One Bank: $0,  Orginal Limit, Last Payment 8/17

 

Santander Consumer USA $8,302

Capital One Auto Finance; 11,801

 

 

Collections

Jefferson Capital Syst $1,201

*Orignal Creditor Fingerhut

 

Portfolio Recov Associations

Commenity Bacnik/Victoria: $448

Portfolio Recov Associations

Capital One Bank $594

 

The Recievable Managment $286

**Progressive Insurance

 

Credit Collection Services $205

**Progressive

 

Caine & Weiner $99

**Progressive Insurance

 

Fidelity Information Cor:$2,259 -- Due to fall off soon - 6yrs 5months old

 

Installmant Loans 

American Credit Acceptance $19,114  - Current - Account Opened 10/18

 

Student Loans

Georgia Student Finance Closed

Transferred to another office, Last Payment 5/14

 

Georgia Student Finance - Closed

Transferred to another office, Last Payment 5/14

 

Department of ED $3,360 - Closed

Department of ED​ $2,782 - Closed

 

Scores:

EQ 476 TU 486 EX 494

Message 1 of 8
7 REPLIES 7
Super Contributor

Re: I Need A Strategy - PLEASE HELP!!!

Before we get started. What your yearly income and age range. 20's 30's 40's?





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC at 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game. Pay it Forward!
Message 2 of 8

Re: I Need A Strategy - PLEASE HELP!!!

Yearly income 64k. 30s
Message 3 of 8
Super Contributor

Re: I Need A Strategy - PLEASE HELP!!!

Most people list the debts, Then I add them up which they dont and then they see what they owe. Your at $28,000+ in debt. Just about half of what you make a year. So. There are some you could pay since they're small. Its the 19G's on the 2 companies that will be a hard one to pay off. But next question. What do you have leftover each month to put towards these debts? Your like a 911 patient to me. I ask question so I know how to treat your symptoms. We're almost there.

 

What is this loan for?

American Credit Acceptance $19,114 - Current - Account Opened 10/18

Total with loan. $47,000.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC at 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game. Pay it Forward!
Message 4 of 8

Re: I Need A Strategy - PLEASE HELP!!!

Lol, 911 patient. So accurate. I really appreciate your feedback. ACA $19k is an auto loan. Right now, I can put away about $1,700 a month towards my debt. I just recently cut my living expenses to help.

I should add - I made arrangements w/Portfolio Recovery to pay off two accounts (Capitol One & VS) this Friday 12/6.
Message 5 of 8
Super Contributor

Re: I Need A Strategy - PLEASE HELP!!!


@Padidiver1900 wrote:

Hello everyone, newbie here. I'm so overwhelmed, but determined to fix my credit issues. I need help with formulating a strategy. Any advice on what I should tackle first? You guys are so well informed ...Any tips would be greatly appreciated. 

Thank you

 

Charge Offs

 

Wells Fargo $135, Last Payment 8/18, Credit Limit $300

CWS/CW Nexus: $2,099  Orginal Limit $1,100, Last Payment 8/17

First Premier Bank: $681, Orginal Limit $500, Last Payment 8/17

 

Santander Consumer USA $8,302

Capital One Auto Finance; 11,801

 

 

Collections

Jefferson Capital Syst $1,201

*Orignal Creditor Fingerhut

 

Portfolio Recov Associations

Commenity Bacnik/Victoria: $448

Portfolio Recov Associations

Capital One Bank $594

 

The Recievable Managment $286

**Progressive Insurance

 

Credit Collection Services $205

**Progressive

 

Caine & Weiner $99

**Progressive Insurance


Well it isnt going to be easy. With 1700 you could pay off all the collections and be done with them. Portfolio will delete off your reports once paid. I think jefferson does also. Then go after FP and WF and get them paid. Then CWS. That leaves the big ones. Surprised they havent gone to collections yet. Your going to have to set up payment arraingements with both at the same time so they dont go to collections or the legal route. You got a ways to go until this is all paid with Cap1 and Santander. It can be done. You'll get back into the 500's paying off the CO's more than anything else without knowing all the lates that led up to the charge offs. Others may chime in. For me I feel this would be the best route. Its good you may some life changes to tackle your debts. So I wish you the best of luck on your way back to good credit health.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC at 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game. Pay it Forward!
Message 6 of 8

Re: I Need A Strategy - PLEASE HELP!!!

Got it!! It all seems doable. Thank you so much.
Message 7 of 8
Super Contributor

Re: I Need A Strategy - PLEASE HELP!!!

No problem @Padidiver1900 Please keep us updated as the journey is underway.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC at 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game. Pay it Forward!
Message 8 of 8
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