My Situation - Please Help!

[Anonymous]

Hello:

Would love recommendations on how to get up to 700, the fastest - no idea will be shot down. Thanks so much for all of you folks sharing your insights - it has helped me tremendously - I wish I knew about this forum months ago!

Here is my credit life in a nutshell right now. I settled the PSECU @ 50% - that should be coming off in a few weeks - what impact should I expect it to have to my score, immediately, and then over 3-6 months? The AES/EDSOUTH just appeared out of nowhere last week - I disputed it - its aged past 7 years AND its a dupicate account

NELNET and Ascendium show the same reporting dates so I am disputing those via snail-mail and would love to get those 120 day lates off of me.

For the rest, its a goodwill campaign to Mr. Cooper, Diamond, and all of the charge-off/collections (including the above that I am disputing).

Any insight and thoughts would be very helpful.

The Good (never late):

Capital One Unsecured - $500 (17 months old)

Capital One Unsecured (Quicksilver) - $3500 (9 months old)

Kohls Card - $500 (less than 1 month old)

Westlakes (Auto) - $16k (1 year old

MOHELA (student loans) - $103k (8 months old)

The Bad:

Diamond Resorts - still owe $6735 - reported 30 days late: 1/19, 2/19, 8/19, and 9/19.

Mr. Cooper - just paid them off in mid June 2021 - reported 30 & 60 multiple times - 90 once - and 120 a handful of times

The Ugly:

Ascendium Education (student loan) - Highest Balance $55k - Reporting as Collection/Charge-off as of 4/1/20

Ascendium Education (student loan) - Highest Balance $28k - Reporting as collection/charge-off as of 3/12/20

Discover Financial Servi (credit card) - credit limit $9400 - reporting as collection/charge-off as of 07/26/2020

JPMCB Card Services - Date of First Past Due 8/2020 - credit limit $2k - Reporting as collection/chargeoff/paid as of 9/18/20

JPMCB Card Services - Date of First Past Due 8/2020 - credit limit $8500 - reporting as collection/chargeoff/paid as of 9/18/20

Pennsylvania State Employee Credit Union (PSECU) - still showing past due $21k - collection/charge-off as of 9/2015

Philadelphia Federal Credit Union (PFCU) - date of first past due 06/2016 - credit limit $15k

AES/EDSOUTH - $46k - 120 days late - date of last payment 04/2013

Nelnet - $30k - 120 days late - date of last payment "not reported" - account closed 09/03/2019

Nenet - $15k - 120 days late - date of last payment "not reported" account closed 09/03/2019

FICO 8: 618, Exp/585, Eq/604, TU

[OmarGB9]

Definitely try to take care of all those charge offs as quickly as possible. How much can you put monthly towards your debts?

For the student loans, are any of those "ugly" ones federal student loans? Or are they all private?

[NYC_Fella]

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@Anonymous wrote:

Hello:

Would love recommendations on how to get up to 700, the fastest - no idea will be shot down. Thanks so much for all of you folks sharing your insights - it has helped me tremendously - I wish I knew about this forum months ago!

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IMO, you will have a very tough time getting to 700 with that history, at least until it's aged for a few more years.

[jons998877]

Maybe I am wrong, but I think I would let all of those past dues. collections and chargeoffs go and let them age off... only exception being the student loans if they are Federal loans and will always be there.. since such large amounts would take forever to pay them off.. instead hoard cash and make sure your current cards stay current with zero past dues and keep balances down.. will take 4-5 years to get there, but maybe best strategy long term.

[JGBNB2716]

I know this is an old post. But I was wondering how PSECU collections works? I just noticed I had was charged off and wondering if it goes to a collection agency or if they will just sue.

[7774x]

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@Anonymous wrote:

Hello:

Would love recommendations on how to get up to 700, the fastest - no idea will be shot down. Thanks so much for all of you folks sharing your insights - it has helped me tremendously - I wish I knew about this forum months ago!

Here is my credit life in a nutshell right now. I settled the PSECU @ 50% - that should be coming off in a few weeks - what impact should I expect it to have to my score, immediately, and then over 3-6 months? The AES/EDSOUTH just appeared out of nowhere last week - I disputed it - its aged past 7 years AND its a dupicate account

NELNET and Ascendium show the same reporting dates so I am disputing those via snail-mail and would love to get those 120 day lates off of me.

For the rest, its a goodwill campaign to Mr. Cooper, Diamond, and all of the charge-off/collections (including the above that I am disputing).

Any insight and thoughts would be very helpful.

The Good (never late):

Capital One Unsecured - $500 (17 months old)

Capital One Unsecured (Quicksilver) - $3500 (9 months old)

Kohls Card - $500 (less than 1 month old)

Westlakes (Auto) - $16k (1 year old

MOHELA (student loans) - $103k (8 months old)

The Bad:

Diamond Resorts - still owe $6735 - reported 30 days late: 1/19, 2/19, 8/19, and 9/19.

Mr. Cooper - just paid them off in mid June 2021 - reported 30 & 60 multiple times - 90 once - and 120 a handful of times

The Ugly:

Ascendium Education (student loan) - Highest Balance $55k - Reporting as Collection/Charge-off as of 4/1/20

Ascendium Education (student loan) - Highest Balance $28k - Reporting as collection/charge-off as of 3/12/20

Discover Financial Servi (credit card) - credit limit $9400 - reporting as collection/charge-off as of 07/26/2020

JPMCB Card Services - Date of First Past Due 8/2020 - credit limit $2k - Reporting as collection/chargeoff/paid as of 9/18/20

JPMCB Card Services - Date of First Past Due 8/2020 - credit limit $8500 - reporting as collection/chargeoff/paid as of 9/18/20

Pennsylvania State Employee Credit Union (PSECU) - still showing past due $21k - collection/charge-off as of 9/2015

Philadelphia Federal Credit Union (PFCU) - date of first past due 06/2016 - credit limit $15k

AES/EDSOUTH - $46k - 120 days late - date of last payment 04/2013

Nelnet - $30k - 120 days late - date of last payment "not reported" - account closed 09/03/2019

Nenet - $15k - 120 days late - date of last payment "not reported" account closed 09/03/2019

FICO 8: 618, Exp/585, Eq/604, TU

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..The bad .. your situation is such you are years away from 700..  need the baddies to drop off CR. I had a couple of badies that  held scores around 680-690..  until they all dropped after 7years /EEs ... now  my Ficos in 770s -80s..It will take time.. Patience ..See to settle  any for a PTD ...Charge offs whether paid or not are a negative that will  result in  credit denials