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Need some help with credit rebuild if possible

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Anonymous
Not applicable

Need some help with credit rebuild if possible

Been browsing through this forum for a couple of days now. With all the time on my hands I decided to join. Was thinking of going with a credit repair company but from what I see they are all scams.I see that a lot of people are recommending fixing your credit yourself. I have some knowledge of the process but I'm still novice. My current score is a 543. I have six derogatory's with TU, seven with Eqi, And 11 with exp. I have a closed/ charged off account for $300 with Milstone on my CR but was bought by

trident asset management and is on my CR for $740. Double edged sword.
How should I go about getting that deleted? I understand credit repair is marathon not a race just looking on where to start with getting things removed. I have great payment history and working on getting my utilization under 20% on all cards 

14 REPLIES 14
Anonymous
Not applicable

Re: Need some help with credit rebuild if possible

If you have any collections I would contact the collections agency to see if they are willing to delete it from your credit report for payment. Also paying down your credit cArds would help. Before paying the collections make sure they are reporting the debt properly. If not dispute it. 

Message 2 of 15
FireMedic1
Community Leader
Mega Contributor

Re: Need some help with credit rebuild if possible


@Anonymous wrote:

Been browsing through this forum for a couple of days now. With all the time on my hands I decided to join. Was thinking of going with a credit repair company but from what I see they are all scams.I see that a lot of people are recommending fixing your credit yourself. I have some knowledge of the process but I'm still novice. My current score is a 543. I have six derogatory's with TU, seven with Eqi, And 11 with exp. I have a closed/ charged off account for $300 with Milstone on my CR but was bought by

trident asset management and is on my CR for $740. Double edged sword.
How should I go about getting that deleted? I understand credit repair is marathon not a race just looking on where to start with getting things removed. I have great payment history and working on getting my utilization under 20% on all cards 


Welcome @Anonymous 

Rebuilding is a marathone and not a race. Paying debts is a different animal. Please list out your debts as follows:

Creditor/Credit Line/ Balance

Collection Agency/ Amount Owed.

Then we can go from there. Fire away!


Message 3 of 15
Anonymous
Not applicable

Re: Need some help with credit rebuild if possible

Thank you so much FireMedic1 for your prompt response. This is the latest info from my CR pulled 3 days ago. Currently paying my cards down every week. Goal is to get all cards under 10% by memorial day. i appreciate any advice/ feedback you have for me to get me out the 500s

 

Mission Lane / $750/ $127

Cap1/$300/$220

Fingerhut/$1000/$0

NavyFed / $17000/$17000 *AU Recently Removed Myself due to high utilization had great payment history

GreenDot Secured / $1000/$900

Self Lender Secured / $650 / $250

Citi Secured /$1000/$900

Cred1 /$450/$300

 

Charged Off

CB Indigo High Balance $618 TU/ $618 EXP / $300 EQ *CL$300 Bal Owed $0

Cap1 HB $954TU/ $0EXP /$954EQ * CL$750 BO $954

Discover It HB $972TU/$0EXP/$272EQ *CL$500 BO $272

TBOM/Milestone HB $740TU/$0EXP/$300EQ *CL$300 BO $0

 

Collection

Trident Asst $740 /Original CreditorTBOMMilestone

LVNV $915 /Orignal Creditor Cap1

 

Message 4 of 15
Moni209
Contributor

Re: Need some help with credit rebuild if possible

Hi just a question please, how do I add my credi cards and scores under replys or messages just like you here. I've never been able to figure it out. I usually use my mobile.  Thank you @FireMedic1 



Current Score: 4•29 | EQ 666 | TU 673 | EX 666
Goal Score: 730
Message 5 of 15
FireMedic1
Community Leader
Mega Contributor

Re: Need some help with credit rebuild if possible


@Anonymous wrote:

Thank you so much FireMedic1 for your prompt response. This is the latest info from my CR pulled 3 days ago. Currently paying my cards down every week. Goal is to get all cards under 10% by memorial day. i appreciate any advice/ feedback you have for me to get me out the 500s

 

GreenDot Secured / $1000/$900

Citi Secured /$1000/$900

Cap1/$300/$220

Cred1 /$450/$300

Fingerhut/$1000/$0

Mission Lane / $750/ $127

Self Lender Secured / $650 / $250

In red these are considered nmaxed out cards and are killing your scores. Get them down below 88.9% ASAP.

Charged Off

CB Indigo 

Cap1 $954 If this is the LVNV and Cap1 is showing a balance. Paid them off. They still own it. Then LVNV wont have anything to collect.

Discover It  $272

TBOM/Milestone  $0

Since Discover is showing a balance. They own it. Pay them before you have annother collection added soon.

 

Collection

Trident Asst $740 /Original Creditor Milestone Dont know this CA or how they oprate. Appears they own the debt due to the $0 balance above next to Milestone.

LVNV $915 /Orignal Creditor Cap1 LVNV will PFD if settled or owed recently.

 


Whats the balance on CB Indigo? If there is one, they still own the debt and hasnt been sold yet. I rearrainged who needs attention first and soon. Especially Citi & GreenDot Secured. You have to prove yourself with CiTi that you will use it and pay it each month. Carrying high balances may hold you back on graduating. Thats your training card. If you cant pay it, dont charge it is the mindset in rebuilding. Plus paying interest is like throwing a dollar out your car window every mile on the highway. Your not getting it back.

 

You'll want cards that have cash back pay you to use their card. Not you paying interest to use them and it takes away from what you earned. There ya go.

 


Message 6 of 15
FireMedic1
Community Leader
Mega Contributor

Re: Need some help with credit rebuild if possible


@Moni209 wrote:

Hi just a question please, how do I add my credi cards and scores under replys or messages just like you here. I've never been able to figure it out. I usually use my mobile.  Thank you @FireMedic1 


Go to the Smorgasboard Section. Its stickied on top of the page. One for cards. The other for banners.


Message 7 of 15
Anonymous
Not applicable

Re: Need some help with credit rebuild if possible

Thanks for all your help and taking the time out for the advice. I will pay down the utilization ASAP and check back with you with an update. Enjoy the rest of your weekend 

Message 8 of 15
FireMedic1
Community Leader
Mega Contributor

Re: Need some help with credit rebuild if possible


@Anonymous wrote:

Thanks for all your help and taking the time out for the advice. I will pay down the utilization ASAP and check back with you with an update. Enjoy the rest of your weekend 


Excellent @Anonymous Once you get going you'll see improvements and that will make you get it over quicker. Yes please keep us updated on your progress on this thread so it can help others too. Go get em. Nail dem suckers!


Message 9 of 15
sarge12
Senior Contributor

Re: Need some help with credit rebuild if possible


@Anonymous wrote:

Been browsing through this forum for a couple of days now. With all the time on my hands I decided to join. Was thinking of going with a credit repair company but from what I see they are all scams.I see that a lot of people are recommending fixing your credit yourself. I have some knowledge of the process but I'm still novice. My current score is a 543. I have six derogatory's with TU, seven with Eqi, And 11 with exp. I have a closed/ charged off account for $300 with Milstone on my CR but was bought by

trident asset management and is on my CR for $740. Double edged sword.
How should I go about getting that deleted? I understand credit repair is marathon not a race just looking on where to start with getting things removed. I have great payment history and working on getting my utilization under 20% on all cards 


It is important to know what a credit score actually is. It is a numerical value assigned to the data in your credit reports to represent how you have handled various types of credit over time. It is used to determine the risk your credit profile has of default, in order to help lenders make sound lending decisions. At one time, people had to go to a bank and meet face to face with loan officers to receive credit. It was actually better at predicting default than a credit score is. It changed due to several factors, including lawsuits due to discriminating based on racBodye. It was also no longer practical once credit cards entered the scene. Credit repair companies would have you believe it is possible to remove the element of time from that, which you can't. You can use several methods to attempt to remove derogetory data from a report, and of course you can increase scores by having the best credit mix, and perfect payment history. You can also easily increase scores by having low utilization, but not no utilization. Payment history, and length of credit history are both reliant on the passage of time to get very high values for. Time is also involved by the fact that derogetory info on report will                                                                                                                                                                                                                                                                                                                                          

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 10 of 15
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