@Camps wrote:Hello Myfico Fam,
I've been lurking for a while now, posting here and there, and doing a lot of reading.
My story is similar to a lot of other peoples' stories around here....basically made some very dumb financial decisions a few years back, started taking out loans while still not fixing the main issues, and getting underwater. I am trying to get married soon, and I just can't go into a marriage with credit problems. The great thing is that the future misses has very good credit, and she has already added me as an AU on two of her accounts (explained below). We don't have kids yet, and we don't have any medical bills, so God-willing, we can stack our money and really pay down debts (our combined income is right at 100k). What I love about this place is that it almost reminds me of a "Anonymous" place where we all are here to get help in a judge-free zone and improve our situation, and everyone is all rooting for another.
Here is where I stand as of 8/24/19. (I sub to the myfico premier)
Ex - 602
TU - 594
EQ - 550
*The "Very Bad" Collections
*Hunter Warfield (apartment) $3762 - Not due to drop off until May 2024 - I've read that they will offer settlement.
*Portfolio Recovery (Capital One QS1) - $3095 - Not due to drop off until April 2025 - Will be calling to get settlement options in the next few weeks Portfolio will delete if settled for less or PIF >2yrs old
*Ad Astra Recovery (Speedy Cash) - $1753 - Will drop off end of 2022 - Will be calling to get settlement options with them too.
*Client Service Inc (Chase) - $1348 - they sent me a settlement offer of $432 - have until end of September to accept. Take it. They wont let you bck in for yrs.
The "Bad"
*Bank of America - $829 - I settled for $566 - I am making monthly payments.
*Capital One - $ 616 - I settled for $432 - I am making monthly payments.
*I was 31 days late on a Self Lender loan back in August 2018, I've tried to send a goodwill "email" to have it removed but was denied.
The "Good"
*US Bank Skypass Secured opened 12/2018 - $300 CL - balance is $275. Maxed
*Wells Fargo Secured CC opened 6/2019 - $300 CL - balance is $275. Maxed
*Citi Secured CC opened 12/2018, maturity/graduation date scheduled for 6/3/2020 - $200 CL, balance is $175. Maxed
*Baxter Credit Union (BCU) Simply Visa Secured - opened 12/2018, $150 CL, balance is $125. Maxed
*Fingerhut Store Account, opened 6/2019, $600 CL, balance is 0.
*AU on a Amazon Chase CC, $2000 CL, balance is $1872. Get off the AU card unless its you charging stuff. Maxed
*AU on a Walmart Store card $6000 SL, balance is $1862.
*I was recently upgraded to a US Bank Gold Checking Account because of my Skypass Secured CC. In speaking to the banker at the local branch that upgraded me, as well as from reading on this board, US Bank really likes when you have multiple products. They would be willing to give a person with multiple products a chance versus someone who doesn't have any current products with them.
I asked this in another thread, but I add it here as well. According to both the Myfico simulators, as well as Credit Karma simulators, if I pay off all of my own current credit card balances and pay down the Amazon Chase to under 30pct (so a total of about $3000 altogether), my scores would increase to the 630-650 range across the board. Not great, but definitely better than the lower 500's that I was at during the early parts of 2018. If there's any advice, I will gladly take it. My goals are to get to at least 625 on all 3 by 12/31/2019, and to get to 700 by 12/31/2020.
Most of my creditors seem to update around the 18th-21st of each month, so for at least the next year, I am going to provide updates around that same time, as well.
Thanks again for reading
Well to be frank and be truthful. The "Good" isnt good. All of your cards except 1 is maxed out. One of the AU cards is maxed. The other AU is a tad high util-wise. Remove yourself from them. To put it lightly. You need to get your finaces under control. Give your cards to someone to hold them so you wont use them until your caught up again. You need to address the baddies after you get your current cards back in order. The amounts charged on your good cards could have paid a lot towards the collections. But thats hind site now. You have to protect what you have now now before AA is held against you. Once all the present cards are paid down. Attack the CA's. Scorewise there may and maybe a small increase once all cards are paid down. But the baddies will rule depending on age. There's really no way to sugar coat it. Stop charging. And start paying. Its that simple. Wish there was an easier way to explain it. Dont pay attention to simulators. The best simulators are here on the forum. Good Luck!
Ad Astra Recovery will entertain a PFD.... will settle also, but you won't get the deletion....
