I'm getting started...tell me what to do

Anonymous · ‎08-05-2008

I have a number of small medical collections on my credit report. Charge offs from: Chase Chase-BP Chase Pier Citibank Lowes HSBC Wells Fargo Capital One How do I begin to work these off of my credit report? About two years ago I decided to just essentially give up on credit cards and my credit report. Now it is time to face the facts and clean the thing up. This site gave me the motivation and tools to get started, but now its time to make the first moves. My mortgage and car loan are current and in good standing. Any Help would be appreciated! (8-5-08) EQ:494 TU:506 EX:508

cw81 · ‎08-05-2008

Start by reading everything you can on the site starting with the stickies for eg. this link credit scoring 101 is a good place to start.

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

Anonymous · ‎08-05-2008

I have read all of that information. Which accounts do I begin with?

Should I dispute some accounts first or start with PFD letters?

I would like more of a direction where to start...this is very overwhelming.

Thanks

cw81 · ‎08-05-2008

It might be good to paste what your baddies are from the individual CRA's but sanitize it so the account numbers are not seen and it will be easier for someone to point you in a direction. I wouldn't just dispute for the sake of disputing but then again the situation might not necessarily warrant a PFD or depending on if a CA or OC is reporting PFD might be almost impossible.

With the medical bills look at this link it it will give you an idea where to go

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=19972

Message Edited by cw81 on 08-05-2008 08:52 PM

Anonymous · ‎08-05-2008

It will be easier for the veterans to help you if you list your accounts without account numbers, the names of the CA, approximate balances (dont give exact numbers), ages of the accounts (DOLA / DOFD).

Do you know your SOL? What state are you in?

Anonymous · ‎08-05-2008

Amcol Systems $130 11/07:1/08 Status: Closed

CAB COllections $275 02/08:03/08 Status: Unpaid

Collection $150 6/07 (no activity reported) Status: open

Harvard Collection $150 11/07:12/07 Status: unpaid

LVNV Funding $1200 10/07: No activity Status: Open

LVNV Funding $2000 11/06 No activity Status

pen

Medical Data Systems $600 4/2008 Status: Open

Receivable $175 1/07 Status: Open

Receivable $300 1/07 Status: Open

Receivable Recovery $245 Status Open

****Most of these CA's do not have any activity whatsoever as I have ignored all calls/etc****

OC Accounts:

Capital One $6500 ($3500 original limit) Opened: 11/03 Last Act: 10/06 (120 late) Status: Charged Off

CHASE Balance $2,000 Date Opened 3/1/2004 Status: Closed

Payment Status Charge-off Limit: 1100 Last Reported June 08

Chase BP Balance: $600 opened: 2/04 Last Act: June 08
Status: Charge Off Limit $450

Chase Pier Balance: 225 Opened: 1/06 Last Activity: 1/08
Status: Closed Limit: $500

Citi Bank Balance 1700 Opened 9/04 Last Activity 2/08
Status Charge Off Limit $2000

GEMB/Lowes Balance: 653 Opened: 12/05 Last Activity:10/07
Status: Charge Off Limit:734

HSBC/Best Buy Balance: 2000 Opened: 9/05 Last Activity: 12/06
Status: Charged off Limit: 1500

WFF Finance Balance: 1055 Opened: 2/06 Last Activity: 02/08
Status: Charged off Limit: 1055

This is a starting point...there are about 8 other accounts on there- but I didn't want to overwhelm at this point.

Let me know what the best steps are in the right direction. Thanks!

Anonymous · ‎08-05-2008

By the way- I'm in SC 7 years SOL I think

Anonymous · ‎08-06-2008

chromatech wrote:
I considered that for awhile- but I live comfortably now that I'm out of college. I really don't use credit anymore- my mortgage is 4.5 fixed (don't ask!) and my car is 2.2%.

I would just like to begin to clean some of this mess off of my report.

If you are comfortable now, get the money together and start sending PFDs to all the OCs. DV all the CAs, if they validate PFD them too.

Remember any debt within SOL can sue you at any time, so be prepared to pay any and all validated debt.

Message Edited by fused on 08-06-2008 07:22 AM

southernficoaddict · ‎08-06-2008

I don't think thats really enough to warrant declaring bankruptcy. Alot of them are CA's and the amounts are pretty small. Maybe if you break it down into smaller increments, and not get overwhelmed trying to do them all at once. Set a goal for the month with a few of them that you can comfortably pay and start to work on those. Try to get the OC on the collections accounts and offer a PFD. Let us know which ones you are working on and we will try to help you as you go.

Anonymous · ‎08-06-2008

I don't know.

I would be worried about getting sued. He did say he had 8 more accounts. But if your going to repair, Definitely start by sending dv's CMRRR to to all the CA's on your CR. Odds are you will get some stuff off.

@southernficoaddict wrote:
I don't think thats really enough to warrant declaring bankruptcy. Alot of them are CA's and the amounts are pretty small. Maybe if you break it down into smaller increments, and not get overwhelmed trying to do them all at once. Set a goal for the month with a few of them that you can comfortably pay and start to work on those. Try to get the OC on the collections accounts and offer a PFD. Let us know which ones you are working on and we will try to help you as you go.