My credit crisis, tired of being on the bottom when I am capable of more:

[rckstrscott]

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@sphinx313 wrote:

Here are the delinquency dates going in order from the top of that list to the bottom, obviously the 4 accounts in good standing are not part of this list.

NOV 2010 1st premier

FEB 2010 Midland

NOV 2010 Cap one

AUG 2010 Verizon

APR 2010 Portfolio

APR 2008 FMRS FURN

APR 2010 Cap One

APR 2010 HSBC

As you can see, my life went down the tubes in one fell swoop VERY quickly and in the same stretch of time. I am prepared to position myself and make the necessary steps possible to fix this.

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Where are you getting this DOFD information from??

-scott

[sphinx313]

The current credit report I have shows the first date the accounts went negative on the TL. They all went to hell pretty much at the same time when my mother had left and I had to pay bills on cards and let them go.

[KnewBee]

Op, good luck! You are not alone. I am in a similar boat as you. In just a month I have already made some good progress. Hang in there! 

[sphinx313]

Just off the horn with First Premier. They said my account is in the control of "Accounts Receivable Management" and gave me their phone number. How should I approach this and the other Capital One? Just called Capital One and apparently they are still in control of that account.

[Shogun]

Do you have the money to pay them?  If so, send them a PFD.

[sphinx313]

Do I offer the PFD on the full amount or is there any strategy for different percentages? I'm not looking for a deal, I'm looking to clean this all up, but I'm not opposed to saving more for other debts.

[Shogun]

Sure, why not try to get a bargain? 

[sphinx313]

About the IVY TECH collection....do I just call the school and see if I can pay them? Would I see an increase in credit score by paying that $1700 down to 0? Any tips on the approach or should I just cut the check?

And do I want to PFD all of these accounts? It seems deleting some of the older ones may hurt me because of AAoA...or should I be more focused on the new accounts bringing me up? I am also in talks with a good friend of mine to get added as an AU to his 10 year old chase card with a 20k limit with never a late payment or anything on the TL.

[jamie123]

Welcome to the forum!

First off, don't just pay bad debts off! You need to read these forums and learn about how to write PFD (Pay For Delete) letters. Just paying off old debts does absolutely NOTHING for your scores. You need to have the negative information REMOVED from your reports!

As long as you still owe lenders money you have leverage. Once the debt is paid you have lost that leverage. You have the money, they want the money, work a deal.

Don't worry about AAoA right now. Your scores are so low because of the negative information it is much better to have the negatives removed.

[sphinx313]

While I agree with this, it is contrary to what else has been said. I am POSITIVE Ivy Tech will sue me if not paid. They sue everyone in this town who owes them money regardless of the amount and they work with a local CA. So if Ivy Tech or the CA they are working with don't accept a PFD, I still HAVE to pay. Losing a PFD battle is better than a Public Judgement, at least that's what I think.