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Sorry for any spelling or grammar errors in advance! Also I love parenthesis.
It took me forever to sort through all of the info so here goes:
Started out with a credit score of around 720 in 2008...
All payments were made on time until June 2012 where I incurred most of the 30 days late payments.
I had two collections item in 2012 $700.00 Medical Bill from 2007 and $41.00 owed to my local library, which is being reported by unique.
I was able to get things back on track until around November 2012 and that's where I really started to fall behind. Things got out of control and
I didn't start to address the issues soon enough. This is where some of the more serious pangs to my credit come into place. I'm not in a position where I can
pay off my debt so I want to clean up as much negative info as I can while I'm slow walking the debt down.
Building my credit has always been of great interest to me, but recently I was going through a rough time and I did not make it a priority (I'm kicking myself for it now)
therefore my situations is no as follows:
FICO:
Starting Score
4/22/13 FICO EQ: 488 (no excuse)
*update*
5/10/13 FICO EQ: 497 (I'm just glad its not getting any lower)
6/8/13 FICO EQ: 501 Slow but happy to see some progress. I gotta start somewhere.
08/21/13 FICO EQ 524- Could be higher but I had a late payment last month. Which is very bad considering it is on an account I have sucessfull gw. I hope they
give me a second chance.
FAKO (Credit Check Total) I really like credit check total, because I can pull the report as many times as I want fee to feed my addiction for the one monthly membership fee:
Starting Score
5/8/13 EQ:521 6/8/13 EQ:527
5/8/13 EX:521 6/8/13 EX:527
5/8/13 TU:527 6/8/13 TU:547
Wal-Mart TU08
05/18/13 TU08: 554
Accounts with CL, Balances, and Negative information:
Account | CL | Balance | Negative Info |
JC Penny Opened May 2009 | - Closed by grantor | $ 2,536.90 | (2) 30 days late (1) 60 days late (1) 90 days late High Balance |
Nordstrom Opened May 2009 | $ 1,000.00 | $ 903.30 | No Late Payment High Balance |
American Signature Opened April 2009 | - program closed | $ 1,463.90 | (2) 30 day late High Balance |
Capital One May 2007 | $ 500.00 | $ 430.14 | No Late Payment High Balance |
Capital One March 2006 | $ 750.00 | $ 332.40 | (4) 30 days late |
Macy's April 2006 | $ 200.00 | $ 102.02 | No Late Payment Low CL |
HSN December 2010 | $ 500.00 | $ - | (1) 30 days late Zero Balance |
NFCU Loan August 2010 | $ 5,000.00 | $ 2,000.00 | No late payment
|
NFCU Credit Card April 2009 | Closed by grantor | $ 4,968.75 | (4) 30 days late (1) 60 days late High Balance
|
IKEA June 2009 | program closed | $ 225.86 |
|
Wal-Mart July 2009 | closed by grantor | $ 1,007.00 | (3) 30 days late (1) 60 days late (3) 90 days late account in very bad standing but trying to avoid CO |
Chase October 2008 | $ 500.00 | $ 275.78 | (1) 30 days late
|
Target June 2009 | $ 1,000.00 | $ 944.62 | (2) 30 days late |
Best Buy Opened March 2008 | - CO | $ 3,423.42 | (1) 30 days late (1) 60 days late (1) 90 days late (6) 120 days late Charged off |
Old Navy September 2008 | - closed by grantor | $ 1,355.34 | (1) 30 days late (3) 60 days late (1) 90 days late (3) 120 days late account in very bad standing trying to avoid charge off |
Lane Bryant April 2006 | $1130.00 | $ - |
Zero Balance |
Victoria's Secret March 2006 | $ 1670.00 | $ - | (3) 30 days late Zero Balance |
Express March 2006 | TBD | $ - | (5) 30 days (1) 90 days Zero Balance |
West Elm June 2009 | $620.00 | $ 596.68 | (1) 30 days |
Ann Taylor | TBD | $ - | (2) 30 days Zero Balance |
Student Loan | Original Amount $2600.00 | $ 900.00 | No late payments paid at 50/month Want to pay off early |
|
|
I will update the TBD (HSN, Lane Bryant, Express, Victoria's Secret, West Elm, and Ann Taylor which are all commenity accounts) CL info at the end of the month. They were on a hardship program that expires at the end of the month because my accounts were pif. Also I made some late payment (before the hardship program) and they reduced my cl as result. All of the accounts have been made current again. So they will update around the 26th of May. At that time they will reinstate my original CL. I shouldn't have to go through any type of credit review or application process because the accounts are still open and active. Also I am going to make another post about my experience with account assure(credit card insurance for commenity bank) and I will post the link here.
Collection Items:
04/01/08 FIN RECOVERY CA (Local Hospital OC) $701.00
01/01/09 Unique CA (Local Library OC) $41.00
04/01/11 EASTERN ACCOUNT SYSTEM CA (Comcast OC) $275.00
11/02/12 AFNI CA (Sprint OC) $335.00 Verified Debt
11/02/12 RCVL PER MNG CA (Sprint OC) $335.00- waiting for response -Reporting to TU only
The Best Buy Charge Off is being handled by NCO, but I don't see where NCO has reported yet.
Inquiries:
I will post later.
Whew! Are you tired yet?
Okay here are my goals:
Goals for May 2013: Have all payments reported current. Resolve collection items that have not been reported to CRA(not listed). Pay off one credit card (Macys). Send out 1st round of GW Letters EX, VS, LB, HSN, AT and raise score to 500.
And now for the plan of action! Wish me luck and send me advice if you think I'm on the wrong track!
So that's it for right now. I am going to try to have all of the GW letters out tomorrow as well as any phone calls for payment arrangements. I think I might make some calls to get refunds for any late fees too. Every little bit helps.
Thanks if you are reading this.
Lots of information there.
I am just going to address one thing that I observed.
You state that both of your loans the NFCU and student loan are both paid ahead and you want to pay them off early. I say make the normal payment on these loans and take the "extra" money you are sending to these to pay it early and apply it to the CC's.
I am going to let others give you ideas on the best way to tackle all the other issues.
OP, is the Sprint collection reporting twice on the same CR?
11/02/12 AFNI CA (Sprint OC) $335.00 Verified Debt
11/02/12 RCVL PER MNG CA (Sprint OC) $335.00- waiting for response
Wow - that is a lot of info! You've got your work cut out for you in GWs and outstanding balances, but it's not out of the question. My first thought is to GW all of the accounts that are still open/current with zero balances to remove the 30 day lates. Those are going to be a huge chunk of your score since they are so recent.
I agree with the poster that mentioned making regular payments on your NFCU and student loans and not trying to pay them off early. You won't see any boost in score by paying off early and it can drag out the possibility of collections with some of the others.
I would also suggest PFDs for the debts you know are yours and that you can pay - start with the smaller ones for now just to get them off your reports. Then look at the larger amounts and prioritize based on the potential legal action that may occur since they are all fairly recent.
With the Comenity cards, will the hardship program remove your lates once the accounts are current?
@txmomma26 wrote:Wow - that is a lot of info! You've got your work cut out for you in GWs and outstanding balances, but it's not out of the question. My first thought is to GW all of the accounts that are still open/current with zero balances to remove the 30 day lates. Those are going to be a huge chunk of your score since they are so recent.
I think this is a good place to start.
I agree with the poster that mentioned making regular payments on your NFCU and student loans and not trying to pay them off early. You won't see any boost in score by paying off early and it can drag out the possibility of collections with some of the others.
It wasnt so much that I was looking to increase my score by paying the loans early, the one NFCU is the bulk of my monthly payments and I didnt want to pay such a high payment for a long time. But it doesn't make since to send in extra money when I need to find as much cash as I can to pay the debts that are reporting negative info.
I would also suggest PFDs for the debts you know are yours and that you can pay - start with the smaller ones for now just to get them off your reports. Then look at the larger amounts and prioritize based on the potential legal action that may occur since they are all fairly recent.
I agree. When you send in pfd are they for the full amounts or do you make an offer? Also will this effect any of SOL or Aging dates of the bad debts?
With the Comenity cards, will the hardship program remove your lates once the accounts are current?
Im not sure. I know that they will remove late fees and reset your minimum payment even if you are not caught up. For example if you had regular payment of 100 per month by you have fallen behind the months you are past due in the amount of 300.00, they would allow you to restablish payment history usally for three months at your regualr payment without any extra to cover your past due bill and at that time the will review the account and set your payment back to 100.00 even though you have not paid enough to cover the late portion.
I finished the program early for VS, Lane Bryant, Express, HSN and Ann Taylor because I purchased the insurance from accout assure. I have paid around 700.00 total over the last 6 months for the insurance. They paid out 5500.00 for the 5 accounts so I think it was worth it.
@Lexixc wrote:
I would also suggest PFDs for the debts you know are yours and that you can pay - start with the smaller ones for now just to get them off your reports. Then look at the larger amounts and prioritize based on the potential legal action that may occur since they are all fairly recent.
I agree. When you send in pfd are they for the full amounts or do you make an offer? Also will this effect any of SOL or Aging dates of the bad debts?
I think that the PFD should be for the full amount on debts within the SOL, unless you can work out something on a much older debt where you settle the account. The SOL can't be reset since there won't be a debt owed anymore, once the PFD is completed. The action of sending out a PFD doesn't reset any clocks either. It's illegal to reage a debt when it's been paid off.
With the Comenity cards, will the hardship program remove your lates once the accounts are current?
Im not sure. I know that they will remove late fees and reset your minimum payment even if you are not caught up. For example if you had regular payment of 100 per month by you have fallen behind the months you are past due in the amount of 300.00, they would allow you to restablish payment history usally for three months at your regualr payment without any extra to cover your past due bill and at that time the will review the account and set your payment back to 100.00 even though you have not paid enough to cover the late portion.
I finished the program early for VS, Lane Bryant, Express, HSN and Ann Taylor because I purchased the insurance from accout assure. I have paid around 700.00 total over the last 6 months for the insurance. They paid out 5500.00 for the 5 accounts so I think it was worth it.
I would call and inquire about the removal of lates and possibly start sending out GW letters there also.
Yes it's the same debt. I sent DVs to both. AFNI replied by mail with a copy of a screen shot of the Sprint Bill.
Also they added notes to my CR saying that I disputed this debt. Should I request to have the notes removed?
RCLV said they will look into to it and get back to me.
AFNI is reporting to all three
RCLV is only reporting to TU and it just lists the debt with the date and amount but no monthly info its all just blank
2 Weeks left in May!
Here's an update on May's goals and plans:
I will update the results at the end of the month.
Okay here's how we made out in May!
- Completed. I need to follow up with a few.
@Lexixc wrote:
Collection Items:
11/02/12 AFNI CA (Sprint OC) $335.00 Verified Debt
And now for the plan of action! Wish me luck and send me advice if you think I'm on the wrong track!
- AFNI- Send PFD Letter
@From my understanding, AFNI will not do PFD. I had an account with them a couple years back, and didn't know about PFD at the time, so I settled with them @ 50%.
After reading these forums, I GW'd them daily for about a week, by email & phone, and on the second call I got the guy to agree to delete.
Good luck, and keep up the good work. It will be worth it in the end.