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Messed Up in 2021 - How Do I Tackle This Debt

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Messed Up in 2021 - How Do I Tackle This Debt

I was on track for credit building and repair, had all these CCs that was supposed to be building my history, and wam bam messed it all up in 2021. Setting up my budget for 2023, I am making this debt a priority and going to start working on my credit again. ANY advice would help. All these charge offs, whats the best plan of action? I want to buy a house in 2024, my scores are all in the low 500s.

Bay Area Credit Service ambulancecollectionX X $                    864.006/30/2017 
Sequium Asset CoxcollectionXXX $                    384.008/8/2022 
Merchants Credit Virginia Masoncollection  X $                    805.007/24/2020 
credit onecredit one credit card - charge off   X $                    672.00  
Kohls Kohs credit card - charge off X   $                    381.002/28/2021Not Sold
Merrick Merrick credit card - charge off X X $                    923.003/31/2021Not Sold
Opensky Openskycredit card - charge off XX  $                    150.003/31/2021Not Sold
Target Target credit card - charge off XX  $                1,346.005/31/2021Not Sold
Spring OaksIndigocredit card - charge off  XX $                    657.005/31/2021Sold to Collection - On CR
Spring OaksUpgradeLoan - charge off XXX $                3,709.003/31/2021Sold to Collection - On CR
NumericaNumericaCar Loan - RepossessionXXX $                5,551.008/31/2022 
Fingerhut Fingerhutcredit card - charge off X   2/28/2021Sold to Collection - Not on CR
Citi Citicredit card - charge off  X  $                      51.008/31/2018Not Sold
Message 1 of 3
Community Leader
Super Contributor

Re: Messed Up in 2021 - How Do I Tackle This Debt

Welcome to the forums @kredit4koral 

Dont stop paying the monthly's for one. Who are the collection agencies? You might have some that PFD once settled. The CO status wont go anywhere. How much do you have to apply to the debts once the CA's are done.

Homeowner since Sept 2020. 2021 Explorer ST Chase 3.1%. Sharing my experiences after BK from learning here. Started 540's.
Message 2 of 3
Valued Member

Re: Messed Up in 2021 - How Do I Tackle This Debt

I would tackle Sequium/COX as it is the most recent other than the repo.  For the rest, assuming that you do not have any current open tradelines, I would open a secured CC and a secured credit builder loan.  Would probably see a bigger jump in score than using the money toward paying off the collection accounts.  Once your SOL hits you can probably settle the remainder for much less than is owed in exchange for a deletion.

Starting Score: Low 500's (BK Ch7 Discharged 3/2010) Back in with almost all of the creditors that I burned.
Current Scores: 760 - 800 (BK dropped off Nov 2019)
Alliant CU Visa 10k; Merrick Bank 0.4k (keeping for age); Lowes 25k; Target MC 13k; Capital One 8k; PayPal 10k; Total Rewards (Comenity) 25k; Amex BCP 38k; Discover 28k; PenFed 15k, Chase Amazon 20k; FNBO 28k; Citibank 30k; BlockFi 15k; X1 33k. Local Credit Union HELCO: 97k. Utilization around 30% incl HELCO
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