@Anonymous wrote:I understand I have a long road to recovery. I still have 3-4 years before my report is fully wiped clean.
Questions:
Should I go into a gardening stage and work on getting rid of the collections? Yep
nrewards- Mine has not graduated and I have heavily used it, and also have it report $0 What can I do? Not much for now.
Cap1 Credit steps - im set for the increase in about 2 months. I have used and PIF before close date. Should i let a balance report ?
Current Credit Profile
UTL – 5%
QS 2250 limit 400 Balance – (10-year-old account with 180 days late) lates should drop in 2-3 years
AMEX NPSL – AU
Cap1 platinum 500 limit – Set to increase with credit steps to $750 in March
NFCU Nrewards 500 limit – It’s been about 7 months and no conversion has happened.
Overstock 2100 limit – CLI every 3 months
Wayfair 2350 limit – CLI every 3 months
Ulta 400 limit
Express 500 Limit
5 Fully paid off Car loans.
*I defaulted with a NFCU for 7,100 which was PIF
Baddies: All the original accounts for the collections are still reporting as charged off or closed will drop in 2023
Collections (all set to drop 2023-2024):
Portfolio Recovery: 11,167
Midland Funding:7,750
Cach LLC: 4,654
Portfolio Recovery: 3,591
Midland Funding: 3,311
Midland Funding: 3,241
Midland Funding: 3,172
Cavalry Port: 1,940
TU: 623
EX: 589
EQ: 582
I look forward to hearing out the advice from the community. I have followed for years. 2019- 2020 i have taken upon my self to fix my credit and get back to where i was about 10 years ago. I took an app spree, which lead to new credit card to help with my UTL. But ready to just take a break and tackle on the major issues.
What you have now is enough to build on. Fixing the past will help the future. Midland and Portfolio will delete after settled or PIF if they are more than 2 yrs old. Out of all your cards only have 1 report <8.9%. Do all the charge offs show a $0 balance which means they were sold to a CA? Ant open installment loans? Please use the default font size.
What are the two charge off accounts that are still open with the original creditors and what is their respective balances and original credit limits?
So you are looking at about $41K in bad debt...
To me, you need to look at your income and decide if you can pay those off in fairly short order.. I wouldn't pay any of them until I think that is possible, very little difference in your credit score if you can only pay off a couple... Whats the SOL in your state??? Or do you already have judements against you for any of them???
Two ways to look at it. The charge off status with $0 balance wont change a score. The CO's with a balance is counted against your aggregate util %. So paying those off or settled will help and that will affect your score some but not a lot. I'd call Portfolio,Midland and Calvary and come to a settlement with them to pay all those CA's and then they will be deleted from your reports. That will leave 2 CA's. Then work on them and ask for a PFD.