cancel
Showing results for 
Search instead for 
Did you mean: 

My credit is a hot mess. Here's my plan, any input is much appreciated!

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
New Member

My credit is a hot mess. Here's my plan, any input is much appreciated!

Current Experian score: 528

 

Open:

Comenity Ulta store card - Opened Jan '17, two 30 day negs (Sept '18 and Jan '19), GW out to them. (CL $150) CB $209/139% UTIL
Comenity Forever 21 store card - Same specs as Ulta above, negs and GW's and all. (CL $250) CB $335/134% UTIL

 

Closed:

 

Comenity Express store card - Opened Oct '15/Closed, chaged off, sent to collections (CL $300) 

Fingerhut/Webbank - Opened Mar '16/Closed, charged off, sent to collections (CL $400)

Department of Ed student loans, 8 separate entries, deferred while in school, status paid (total $28,287)

 

Collections:

 

Jefferson Capital Syst/Fingerhut/Nov '16/$422

Midland Funding/Comenity Express/Apr '17/$613

LVNV Funding LLC/Capital One/Nov '17/$416

Portfolio Recovery/Capital One/Nov '17/$452

Jefferson Capital Syst/Verizon Wireless/Jun '18/$1,160

 

Inquiries: 15 (Yeah, I know...yoinks)

 

No bankruptcy, no public record, etc.

My boyfriend just added me as an AU to his Discover card. It's been open 11 years, 0 late payments, $13,500 CL.
I will have my two open cards PIF on the 22nd, I just made the minimums today. 

Beyond these measures, my current plan is to send PFD letters to my collection accounts. Once they're settled, I plan to send GW letters for deletion to the OC's, which would curiously in my case only be Fingerhut/Webbank and Express/Comenity. The only other thing I can possibly think to do is perhaps get a secured credit card with a major company, trade my car in for something slightly better just to have a small auto loan, and perhaps take my student loans out of deferment and make interest only payments while I'm in school, all of which I can manage. Am I missing anything? Is there anything I could be doing differently or something I shouldn't do that I plan to? I appreciate the help in advance, I've perused the boards for years but I'm finally making attempts in earnest to get my you-know-what together. Thanks all Smiley Happy

Equifax 504, TransUnion 540, Experian 528 as of 2/7/19
Message 1 of 12
11 REPLIES 11
Contributor

Re: My credit is a hot mess. Here's my plan, any input is much appreciated!

Good to see the effort, you’ll feel great when things start to go the way of your plan! I noticed that you only have EX score available. Are you aware of all 3 of your scores? 

 

There may be other collections hiding since you’re facing your collectors. Are they reporting correctly? You may be able to get some removed as well if there are reporting errors. Good luck! Smiley Happy




Started from the bottom now I'm here. Smiley Happy
Message 2 of 12
New Member

Re: My credit is a hot mess. Here's my plan, any input is much appreciated!

Oy vey, no, I haven't gotten my other reports yet. Smiley Embarassed

I think I'm just going to shell out the dough for myfico's 3-in-1 since I'm ready to make some progress here. Thank you!!

Equifax 504, TransUnion 540, Experian 528 as of 2/7/19
Message 3 of 12
Established Member

Re: My credit is a hot mess. Here's my plan, any input is much appreciated!

madisma,  first, congratulations on the first big step,  realizing you can do this yourself!  Most people on these boards have been in your exact situation and these forums are a great source of information and encouragement.

 

Now, remember, this does take some time.  A big mistake that people make is trying to do too much too fast.  Each time you send anything out,  the company or agency on the other side has 30 days from the day they receive it to respond.

 

Also,  keep in mind the steps you take are important and the order that you do it in are important.  Example is,  check all of your information on your credit reports first, make sure everything is accurate.  If something is incorrect, dispute those first.  Once you send PFD or Goodwill, you are pretty much saying everything is correct.  

 

Just a few tips.  Good luck! 

Message 4 of 12
Contributor

Re: My credit is a hot mess. Here's my plan, any input is much appreciated!

 

 


@madisma wrote:

Current Experian score: 528

 

Open:

Comenity Ulta store card - Opened Jan '17, two 30 day negs (Sept '18 and Jan '19), GW out to them. (CL $150) CB $209/139% UTIL
Comenity Forever 21 store card - Same specs as Ulta above, negs and GW's and all. (CL $250) CB $335/134% UTIL

 

Closed:

 

Comenity Express store card - Opened Oct '15/Closed, chaged off, sent to collections (CL $300) 

Fingerhut/Webbank - Opened Mar '16/Closed, charged off, sent to collections (CL $400)

Department of Ed student loans, 8 separate entries, deferred while in school, status paid (total $28,287)

 

Collections:

 

Jefferson Capital Syst/Fingerhut/Nov '16/$422

Midland Funding/Comenity Express/Apr '17/$613

LVNV Funding LLC/Capital One/Nov '17/$416

Portfolio Recovery/Capital One/Nov '17/$452

Jefferson Capital Syst/Verizon Wireless/Jun '18/$1,160

 

Inquiries: 15 (Yeah, I know...yoinks)

 

No bankruptcy, no public record, etc.

My boyfriend just added me as an AU to his Discover card. It's been open 11 years, 0 late payments, $13,500 CL.
I will have my two open cards PIF on the 22nd, I just made the minimums today. 

Beyond these measures, my current plan is to send PFD letters to my collection accounts. Once they're settled, I plan to send GW letters for deletion to the OC's, which would curiously in my case only be Fingerhut/Webbank and Express/Comenity. The only other thing I can possibly think to do is perhaps get a secured credit card with a major company, trade my car in for something slightly better just to have a small auto loan, and perhaps take my student loans out of deferment and make interest only payments while I'm in school, all of which I can manage. Am I missing anything? Is there anything I could be doing differently or something I shouldn't do that I plan to? I appreciate the help in advance, I've perused the boards for years but I'm finally making attempts in earnest to get my you-know-what together. Thanks all Smiley Happy

 


 

The good news is that each one of these collections will be removed from your credit report as soon as they are paid. With each of these agencies, their policy is to remove after paid as it is listed directly on their website. Also, I personally had each one of these collection agencies reporting on mine, paid all of them on 1/4/19 and now each one has been removed from my report since.




Message 5 of 12
Established Member

Re: My credit is a hot mess. Here's my plan, any input is much appreciated!

The good news is that each one of these collections will be removed from your credit report as soon as they are paid. With each of these agencies, their policy is to remove after paid as it is listed directly on their website. Also, I personally had each one of these collection agencies reporting on mine, paid all of them on 1/4/19 and now each one has been removed from my report since.


I'm curious about your comments in regards to Jefferson Capital. Their website states they only mark the account as paid. I've spoken with them several times in the past and they've always refused a PFD unless the debt is older than 2 years. Even then, they said it's a separate request you must file.


Message 6 of 12
Established Contributor

Re: My credit is a hot mess. Here's my plan, any input is much appreciated!

Congrats on taking the steps to clean up your credit!

 

Now, the second step is to understand the how & why you got yourself into credit & then change your mindset on what credit is & how you should use it. Once you understand that you will be on your way to bigger & better things!

 

I'm a big fan of having a written budget, I preach it on here all the time. When you physically write down all your income & expenses & can see where your paycheck is actually going, you can begin to change your spending habits & start taking control of your finances. Plus, seeing your accomplishments on paper as you reduce your debt is a wonderful feeling & motivates you to continue! GL!

 



Starting Score: Nov 3, 2018: EX 597 TU 599 EQ 616
Current Score: October 1, 2019: EX 665 TU 688 EQ 675
Goal Score: Dec 31, 2019: EX 700 TU 700 EQ 700

Take the myFICO Fitness Challenge






Message 7 of 12
Contributor

Re: My credit is a hot mess. Here's my plan, any input is much appreciated!


@sh00pie wrote:

The good news is that each one of these collections will be removed from your credit report as soon as they are paid. With each of these agencies, their policy is to remove after paid as it is listed directly on their website. Also, I personally had each one of these collection agencies reporting on mine, paid all of them on 1/4/19 and now each one has been removed from my report since.


I'm curious about your comments in regards to Jefferson Capital. Their website states they only mark the account as paid. I've spoken with them several times in the past and they've always refused a PFD unless the debt is older than 2 years. Even then, they said it's a separate request you must file.



If you go to their website and click on "credit reporting FAQ" at the top you'll see a list of FAQ's. The top right question is "When does JCap stop reporting to the credit bureaus?" Here is the response:

 

We are required to stop reporting on an account and to delete our tradeline within seven years of the delinquency date.

We also stop reporting and delete our tradeline on any account that is both:

  • Paid in Full or Paid in full for less than the full balance; and
  • More than two years have passed since the delinquency date



Message 8 of 12
Valued Contributor

Re: My credit is a hot mess. Here's my plan, any input is much appreciated!

You can start by pulling your reports for free at www.annualcreditreport.com and getting your three FICO8 scores at www.creditchecktotal.com for $1 on a 7-day trial (just cancel it after you have your scores). Wait on ordering the full 3B from this site until you need it again.


Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 9 of 12
Established Member

Re: My credit is a hot mess. Here's my plan, any input is much appreciated!


@mmajer4211 wrote:

@sh00pie wrote:

The good news is that each one of these collections will be removed from your credit report as soon as they are paid. With each of these agencies, their policy is to remove after paid as it is listed directly on their website. Also, I personally had each one of these collection agencies reporting on mine, paid all of them on 1/4/19 and now each one has been removed from my report since.


I'm curious about your comments in regards to Jefferson Capital. Their website states they only mark the account as paid. I've spoken with them several times in the past and they've always refused a PFD unless the debt is older than 2 years. Even then, they said it's a separate request you must file.



If you go to their website and click on "credit reporting FAQ" at the top you'll see a list of FAQ's. The top right question is "When does JCap stop reporting to the credit bureaus?" Here is the response:

 

We are required to stop reporting on an account and to delete our tradeline within seven years of the delinquency date.

We also stop reporting and delete our tradeline on any account that is both:

  • Paid in Full or Paid in full for less than the full balance; and
  • More than two years have passed since the delinquency date

That kinda just confirms what I've said. They won't delete it unless it's 2 year old, or older, and you pay it. I was hoping to find a way to have it deleted under 2 years old. Thank you, though.

Message 10 of 12
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.