New Member need help with where to begin

[Anonymous]

Hello All,

I am eager to begin the journey to amazing credit. Ill give some background about me current status, please give me feedback for where to start. I've been reading about starting by sending letters. What type of letters should I send and what type of additional information should i send? I believe everything reported is accurate, however I'm willing to do just about anything to get back on track. Please help and do not abbreviate as I am not familiar with the "lingo" Thank you

Fico score: 539

Active Collections(open): 7 total (6medical, 1car insurance) Range: $109-$980)

Accounts closed: 19 total (15 student loan good standing transferred, 1utility C/O, 3 auto loan same loan appears 3x due to sold/transferred + 4 late pymts marked)

Accounts open: 22 total ( 21 student loans in good standing no missed payments, 1bank account C/O deposit related)

Hard credit inquiries: 6 total Range: Aug 2013 - May 2015

This is everything reported on my report according to credit karma please help!

[MarineVietVet]

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@Anonymous wrote:

Hello All,

I am eager to begin the journey to amazing credit. Ill give some background about me current status, please give me feedback for where to start. I've been reading about starting by sending letters. What type of letters should I send and what type of additional information should i send? I believe everything reported is accurate, however I'm willing to do just about anything to get back on track. Please help and do not abbreviate as I am not familiar with the "lingo" Thank you

Fico score: 539

Active Collections(open): 7 total (6medical, 1car insurance) Range: $109-$980)

Accounts closed: 19 total (15 student loan good standing transferred, 1utility C/O, 3 auto loan same loan appears 3x due to sold/transferred + 4 late pymts marked)

Accounts open: 22 total ( 21 student loans in good standing no missed payments, 1bank account C/O deposit related)

Hard credit inquiries: 6 total Range: Aug 2013 - May 2015

This is everything reported on my report according to credit karma please help!

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Hello and welcome to myFICO.

Credit repair/rebuilding can sometimes be a frustrating process but if you want to succeed you can.

I would suggest you pull your full reports from annualcreditreport.com and see exactly what is in your profile. Reports from third party sites often don't have the most complete information. 

I'll let others chime in with their advice/suggestions.

Good luck in your journey!

[Anonymous]

ON THIS SITE DO A SEARCH
You should research pay for delete. PFD.
This would be helpful for your current accounts.
I would organize my accounts by the date of last payment, starting with the most recent.
Then when you have the cash request a PFD.

Need more info about account dates like when opened, last payment

[Anonymous]

Thanks guys I'll start with the par for deletes. Any other tips?

[Momof5]

First thing I would do (if you are now out of school) is consolidate those SLs.  Why?  In the future, if you are ever late, only 1 TL will report the derog instead of 21!

Next, if you have the $, contact the medical OCs and offer to PFD (ask them to pull the account back from the CA).  I did this and got rid of my 2 medical CAs easily.  If that does not work, google HIPAA method and follow the creator's instructions.  [We are not allowed to discuss the HIPAA method on this board.] 

[surferchris]

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@Momof5 wrote:

First thing I would do (if you are now out of school) is consolidate those SLs.  Why?  In the future, if you are ever late, only 1 TL will report the derog instead of 21!

Next, if you have the $, contact the medical OCs and offer to PFD (ask them to pull the account back from the CA).  I did this and got rid of my 2 medical CAs easily.  If that does not work, google HIPAA method and follow the creator's instructions.  [We are not allowed to discuss the HIPAA method on this board.] 

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Agreed.  Also if you pay the utility, they will usually remove the CO.

[Anonymous]

Most of your score is generated with current revolving credit. If you have no current revolving accounts, you need to get three bank credit cards established as soon as you can do so. These can be secured cards if necessary. Your scores will not grow until you do so, no matter how much you get cleaned up.

[gdale6]

For info on PFD:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/...

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/td-p/4519

For unpaid medical debt that is reporting on your CR:

1. Call the OC and ask that they recall the collection in exchange for full payment
2. Send the reporting CA a PFD offer
3. Google the HIPAA Process and contact its creator for help