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Hey Everyone,
I (re)discovered the forum after a financial meltdown and then three years of ignoring all my issues. If anyone has advice about the current plan or if you see any improvements that could be made I would be grateful. Any help would be appreciated.
Current Credit State |
Credit Scores from myFICO (FICO 8) Equifax: 552 – TransUnion: 573 – Experian: 548 |
Last Late Payment: 3 Years ago |
Revolving Utilization: 96% |
Inquiries: 2 |
Open Accounts |
Name | Type | Balance | Limit | Notes |
CREDIT ONE BANK | Credit Card | 464.00 | 450.00 | |
US BANK (SECURED) | Credit Card | 452.00 | 500.00 | |
CAPITAL ONE BANK QUICKSILVER ONE | Credit Card | - | 300.00 | Approved this week |
DISCOVER (SECURED) | Credit Card | - | 1,500.00 | Approved this week |
CAR LOAN | AUTO | 17,000.00 | 1st payment pending |
Closed Accounts in Bad Standing
Name | Type | Balance |
NFCU | Credit Card | 8,672.00 |
JPMCB | Auto Loan | 3,155.00 |
USAA | Credit Card | 500.00 |
CAPITAL ONE BANK Usa | Credit Card | 700.00 |
Collections
Name | Amount |
Contract Callers Inc - | 339.00 |
Portfolio Recovery | 981.00 |
Portfolio Recovery | 678.00 |
The Bureaus Inc | 799.00 |
Steps – Completed
Steps - Planned
Please let me know if I am missing anything or if the step order should be different.
Thanks!
@Amex_or_bust wrote:Hey Everyone,
I (re)discovered the forum after a financial meltdown and then three years of ignoring all my issues. If anyone has advice about the current plan or if you see any improvements that could be made I would be grateful. Any help would be appreciated.
Current Credit State
Credit Scores from myFICO (FICO 8) Equifax: 552 – TransUnion: 573 – Experian: 548
Last Late Payment: 3 Years ago
Revolving Utilization: 96%
Inquiries: 2
Open Accounts
Name
Type
Balance
Limit
Notes
CREDIT ONE BANK
Credit Card
464.00
450.00
US BANK (SECURED)
Credit Card
452.00
500.00
CAPITAL ONE BANK QUICKSILVER ONE
Credit Card
-
300.00
Approved this week
DISCOVER (SECURED)
Credit Card
-
1,500.00
Approved this week
CAR LOAN
AUTO
17,000.00
1st payment pending
Closed Accounts in Bad Standing
Name
Type
Balance
NFCU
Credit Card
8,672.00
JPMCB
Auto Loan
3,155.00
USAA
Credit Card
500.00
CAPITAL ONE BANK Usa
Credit Card
700.00
Collections
Name
Amount
Contract Callers Inc -
339.00
Portfolio Recovery
981.00
Portfolio Recovery
678.00
The Bureaus Inc
799.00
Steps – Completed
- Added Discover (Secured) and Cap One QucksliverOne
- Paid off Credit One card and US Bank (left 8%)
Steps - Planned
- Pay off both Portfolio Recovery items as they will PFD automatically
- Off letter to reduce 981.00 to 671.00
- Send PFD letters to CCI and The Bureaus
- Based on other threads people have had PFD Success with both
- Pay off NFCU in full
- This is big priority as I want to get back in their ecosystem
- Apply for NFCU Secured Card
- Payoff JPMCB balance
- Drop Credit One card
- Graduate Discover and QS1 Cards
- Refinance auto loan (hopefully with NFCU)
- GW attempt late payments and negative closed accounts.
Please let me know if I am missing anything or if the step order should be different.
Thanks!
You have the right mindset to get it done. I'm just going to point out a red flag. Your balances that you are carrying now could or would lead you into the same situation. You need to clean up the past so the future will be brighter. Open and closed (charge off) cards right now are maxed out. Even if you pay down the open cards. The charge off cards still whack your aggregate util at 100%. Go with your plan but tackle the CO's first if you can until any CA start the legal route. Points will be gained by paying down the util% amounts on the CC's. CA pay offs not so much. Your lucky you have Portfolio which will delete. But those others that dont will stop hurting once they fall off. Remember GW's arent 100% successful all the time. Good Luck on your journey to getting back on your feet.
I believe Portfolio Rec will accept pay for delete. Ditch the Discover $1500 secured; used the $1500 towards collections and work on utilization.