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I need a mentor!!! Please help!!!

New Member

I need a mentor!!! Please help!!!

I have started a business and I am now feeling the effects of my bad credit in previous years. All of my business credit is faling back on my personal credit and I even have a Limited Liability Company. I just joined the Equifax credit monitoring which I pay like $16.95/month for the Equifax Complete Advantage Plan where I can obtain an updated fico score from all three bureaus and print and/or pull my reports at any time. My scores are Equifax-500, TransUnion-562, Experian-510. I feel so ashamed having to post these low scores but I want to improve these scores and possibly get around a 750 for all three. Can anyone here help with experience? I can give you my email address and scan my reports for you to view (with all important numbers blacked out of course). I just opened a captial one secured card and a fingerhut second chance account. I have also appled for a Wells Fargo secured card. Where do I start next?

Message 1 of 12
Regular Contributor

Re: I need a mentor!!! Please help!!!

I'd suggest posting up a list of your accounts, their amounts owed, dates of first delinquency, and current status on those accounts.


From there, people can see what creditors and collections agencies you are dealing with, and be much better able to give you a good course of action.  There is a VERY knowledgeable member base here, and you will definitely get sound advice.

Starting Score: MyFico TU: 621 EQ: 610
Current Score: Discover TU: 829 Discover EX: 827
Goal Score: 700's baby! (made it 4/10/2013!)
New Goal: 830!!
Message 2 of 12
New Member

Re: I need a mentor!!! Please help!!!

OK cool! And thank you for such a timely response. I will try to have all the accounts posted within the next day or two. I noticed that all the credit reports do not contain all the same creditors when I post them here can I just post a mix of all debtors from all 3 reports or should I keep them classified under which credit reports they appear on? Excuse any spelling errors because I'm on my cell phone. And thank u again for helping. Maybe ill be able to help others one day!
Message 3 of 12
Regular Contributor

Re: I need a mentor!!! Please help!!!

It really doesn't matter which report its on, in my opinion.  I'd just post it up in a fashion such as this:



Cap1 - $1500 owed - DOFD 4/08 - charged off.

Merrick - $725 owed - DOFD 9/11 - 60 day late/current


and so on...

Starting Score: MyFico TU: 621 EQ: 610
Current Score: Discover TU: 829 Discover EX: 827
Goal Score: 700's baby! (made it 4/10/2013!)
New Goal: 830!!
Message 4 of 12
New Member

Re: I need a mentor!!! Please help!!!

OK thank you! If I do it that way I think ill have it up faster!
Message 5 of 12
Senior Contributor

Re: I need a mentor!!! Please help!!!

BTW - those scores you are getting are not FICO scores so there is no way for you to really guage where you are until you get your real FICO scores.  You can get your EQ score here - You can also get your TU FICO here, but it is an older model and most lenders don't use it anymore, but still better than a totally fake score.


The service you have is still good bc you can pull your reports as often as you need for the data.


Good Luck.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Message 6 of 12
New Member

Re: I need a mentor!!! Please help!!!

To whomever helps me I lost my job of 10 years and I am struggling to get back on my feet, I just started a new job in december to make ends meet until my business gets off the ground but I am fighting a hard battle. Please note I was behind on my mortgage and I am in the process of reaffirming my mortgage. They are going to refinance my home, Regions told me after I made the three good faith payments of 874.25 they will proceed with the process in march. I dont know if that will erase the current mortgage issues and start new or what. At least i keep my home and thats the most important thing.



Public Records


1. Ch13 Bankruptcy Dismissed, Filed 07/01/2011, Dismissed 10/11/2011, Removal Date 06/2018

2. Ch13 Bankruptcy Dismissed, Filed 02/02/2006, Dismissed 06/30/2011, Removal Date 01/2013


Adverse Accts.


1. CARAMEL FINANCIAL, Bal=$0, Date Updated 12/01/2011, High Balance $3523, Last Payment 06/02/2005, Pay Status=Account included in CH13, Revolving Account, Terms=Minimum $49, Date Opened=04/13/2005, Date Closed=08/01/2011, Removal Date=04/2012

2. CARAMEL FINANCIAL, Bal=$2218, Date Updated 02/28/2006, High Balance $2400, Past Due=$314, Last Payment 06/02/2005, Pay Status=Charged Off, Installment Account, Terms= $49 monthly for 48 months, Date Opened=04/13/2005, Date Closed=12/31/2005, Removal Date=04/2012

3. CONS REC SYS, Bal=$75, Date Updated=09/05/2011, Original Amount=$75, Past Due=$75, Last Payment=04/27/2007, Pay Status=In collection, Account Type=Open Account, Removal Date=06/2014

4. FIRST PREMIER BANK, Bal=$0, Date Updated=08/21/2011, High Bal=$397, Credit Limit=$300, Pay Status=Included in ch13, Account type=Revolving, Date Opened=12/08/2009, Date Closed= 03/30/2010, Removal Date=12/2016

5. FIRST PREMIER BANK, Bal=$0, Date Updated=04/11/2008, High Balance=$458, Credit Limit=$300, Last Payment=01/29/2008, Pay Status=Account paid in full, was a charge off, Account Type=revolving, Date Opened=04/12/2007, Date Closed=05/16/2007, Date Paid=01/29/2008, Removal Date=05/2014

6. FROST ARNETT COLLECTION, Bal=$292, Date Updated=12/08/2011, Original Amount=$292, Past Due=$292, Pay Status=In Collection, Account Type=Open account, Removal Date=12/2012

7. HSBC AUTO FINANCE, Bal=$0, Date Updated=10/10/2005, High Bal=$21087, Last Pay=11/29/2005, Pay Status=Charged off, Account Type=Installment, Terms=$525/mth for 72mths, Date Opened=08/30/2002, Date Closed=10/810/2005, Removal Date= 09/2012

8. HSBC BANK, Bal=$0, Date Updated=01/31/2006, High Bal=$708, Credit Limit=$0, Last Payment=12/02/2005, Pay Status=Charged Off, Account Type= Revolving, Date Opened=03/05/2003, Date Closed=08/17/2005, Date Paid=12/02/2005, Removal Date=02/2012

9. PLAINS COMMERCE BANK, Bal=$315, Date Updated=01/06/2009, High Bal=$334, Credit Limit=$250, Past Due=$315, Last Payment=07/10/2008, Pay Status=Charged off, Account type=revolving, Date opened=05/05/2008, Date Closed=09/08/2008, Removal Date=08/2015

10. SANTANDER CONSUMER USA, Bal=$0, Date Upda/ted=11/30/2011, High Bal=$24473, Last payment=03/22/2011, Pay Status=included in ch13, Account Type=installment, Terms=$2354 monthly for 72 mths, Date opened=11/28/2004, Date Closed=11/30/2011, Removal Date 11/2017

11. UNITED CONSUMER FIN SVC, Bal=$0, Date updated=10/20/2005, High Bal=$1433, Pay Status= 60days past due, Account Type=installment, Terms=$39mthly for 36mths, Date Opened=06/13/2005, Date Closed=10/20/2005, Removal Date=08/2012

12. UP/REGIONS, Bal=$0, Date Updated=11/07/2011, High Bal=$118247, Last Payment=03/15/2011, Pay Status=Included in ch13, Account type=mortgage, Terms=$1011mthly for 360mths, Date opened=06/14/2004, Removal date=07/2012


Satisfactory Accts.


1. CREDIT ACCEPTANCE CORP, Bal=0, Date uupdated=10/01/2002, High Bal=$10949, Last Pay=09/01/2002, Pay Status= Current paid as agreed, Account type=installment, Terms=$304mthly for 36mths, Date Opened= 08/01/2000

2. DIRECT LOAN SVC SYSTEM, Bal=$0, Date Updated=09/30/2011, High Bal=$34750, Last Pay=09/01/2002, Pay Status=unrated, Account Type Installment, Terms=$483for 120mths, Date Opened=06/15/2009, Date Closed=09/30/2011




Experian has included my Child Support which I know nothing can be done but pay up the child support and I am past due $3020 which I am sure they will recover that when I file my income taxes.



Message 7 of 12
Moderator Emeritus

Re: I need a mentor!!! Please help!!!

Welcome to the forums!

I'd suggest reading the following:

Common Abbreviations

Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.

What Steps Do I Take - great for learning the repair process.

and Example letters - PFDs, GWs, DVs, etc.



Nothing to do but wait on the BKs.


1) Looks accurate. You can try a GW if you want it deleted sooner, but I'd wait. Sounds like they are going to delete early?


2) Was this included in the BK? If not, send a PFD.


3) Is this an OC? If so, send a PFD. If a CA, send a DV. IF they verify and you agree, then send a PFD.


4) Reporting OK, but you can try a GW asking for removal.


5) Send a GW.


6) Send a DV. If they verify and you agree, then send a PFD.


7) Send a GW.


8) Wait it out for one more month.


9) Send a PFD. If after one or two attempts they keep saying "no", then pay it off. That alone could result in a nice increase because this is still factored into CC util and is reporting over the limit.


10) You can try a GW.


11) How old is the 60-day? If older than 2-3 yrs, then I'd do nothing. Looks like it might be at least 6 yrs old.


12) Do nothing to Regions pending any negotiations you have with them.


FICO ignores Child Support.


Unless your scores are from a lender, they aren't FICO scores.


On the above, be careful about asking for deletions on OC accounts. Calculate your AAoA. If the accounts are older than your AAoA, then you might want to hold off asking for a deletion, even if bad like a paid CO. If younger, then certainly ask for a deletion. AAoA is the average age of all of your OC accounts, whether opened or closed, good or bad. To cheat, your FICO report might show an AAoA on pages 2 or 3 of your report.



Message 8 of 12
New Member

Re: I need a mentor!!! Please help!!!

Thank you and you are so helpful sir. It appears I will play the waiting game till the end of the year because a majority of my negative items are supposed to drop from my file. I am scared they are going to fudge the dates some kind of way and keep them on there. I only have one account that is a CA that is scheduled to remain for a few years and i am going to try to PFD because it is only $75. See I been reading like you told me to!!! My only issue is what to do with the remaining OC's that are scheduled to be around for a while because the tradeline has been sold to another OC. That sucks!!! I'm still reading and planning sir and thank you again!!!

Message 9 of 12
Community Leader
Legendary Contributor

Re: I need a mentor!!! Please help!!!

In a quick review of the account data, I see a lot of information that does not seem to jive.

A few examples:

2.Caramel lists a date opened of 4/2005, date closed 12/2005, removal 4/2012, Charge-off

Huh?  I assume that the item referred to as being removed in 4/2012 is the charge-off. 

An account opened in 4/2005 could not even have a reported 30-late until billed in 4/2005, due in 5/2005, and 30 late for CR purposes then reported as 6/2005.

7 years from 6/2005 would not be until 6/2012, and that would only apply to the 30-late. Since the CO is apparently the item for which the removal date is provided, COs have a removal date of 7 years plus 180 days from DOFD, which would be, at the earliest, around 1/2013.


4. First Premier    Opened 12/2009    Closed 3/2010    Removal date:  12/2016

That implies the item to be removed was a monthly delinquency that was reported as the same date as account opening.  Not possible.


The dates provided throw into question, at least in my mind, what dates are being used in their "removal" projections. 

I would thus start by listing each delinquency and derog, by its date of occurance and type, rather than by listing accounts.  Add the statory exclusion date to each, and compare with what is reported.

I would not put much faith in the removal dates provided, and would do my own listing.


For reference:

For each monthly delinquency: add 7 years to its date of delinquency

For each charge off and collection, you need the DOFD on the OC account, and then add 7 years plus 180 days to that single, date-certain DOFD.


Dates of delinquency cant be "updated," so you have no concerns about reaging any of the exclusion dates based on your actions.  My concern would be with the accuracy of the dates being used.


Message 10 of 12