Collections won't fall off until 7 years if that is from 2019 you might want to keep your payment arrangement PFD isn't a Opt out of something you owe rather than I fudged a few years back let me make it up but on a side note I would get your Open Accounts down in Utilization first then start working on your Collections getting them off....you don't want your current accounts to hurt you and keep hurting you or to close on you and make it harder for you but from my knowledge there is no way to remove the lates you just have to have them fall off when they do but it is possible to do the PFD for Collections to those that will BUT just be careful on that and don't low ball them or they may refuse and you have to wait it out. When I removed mine off my Collections I had 2 medical I paid the whole amount I owed because I knew it was my mistake if it is a Collection that legit isn't yours then you can of course debate that and maybe offer 30% or 40% of the bill just to get it off but paying anything makes it more so that you admit it was your debt. If you also do PFD be sure you get in writting either email (preferably email) or letter that they will remove it from ALL 3 CB when it is paid so that way they can't report otherwise and they don't say it's paid but not remove it....that is just my suggestion to help get things under control and then maybe a year after doing so think about CLI or adding a new card 
The good news is your Closed Credit Cards aren't that high like your Collection so once you are done catching up your current if you paid them and waited to reopen or just remove them that will help raise you as well 
@Anonymous wrote:Hello Everyone!
I've been following these forums for some time now and finally decided to stop being embarassed and receive some tips and guidance on how to rebuild my horrible credit scores. I finally decided to rebuild my credit scores and hope everyone would be able to guide me to it! I had a couple of financial emergencies the past few years and lost a job for 6 months that messed my scores up bad. I have lost hope and faith prior to reading these forums but after reading, I have some kind of hope that I would be able to rebuild my scores.
CREDIT CARDS
- Capital One Platinum. Credit Limit of $200. 99% Utilization
- Capital One QS. $500 CL. 175% Utilization
I have several late payments on both of these accounts from 30-90 days past due. Is there anyway I can remove these late payments like sending a GW letter? Or what other tips do you have on taking care of these? Cap1 is not known to do GW adjustments. Get these paid down ASAP.
CLOSED CREDIT CARDS
- Credit One Bank. Charged off due to nonpayment on 7/18/18 with Bal of $591. I was an AU on this card If your AU on this card. Get your name reoved ASAP.
- Kohls. Charged off due to nonpayment on 6/24/18 with a bal of $338
- Victoria Secret- I closed this my account myself on 10/24/13 when I was young not knowing the impact it will have on my credit scores. Never carried a balance on it.
- CitiBank Thank You Rewards. Closed on 10/3/19. This doesn't show on my credit report yet. I've called many Citi repesentatives to figure out why this card was closed and all of them weren't able to give me a straight answer except for "A letter will be sent explaining why". Still waiting for the letter. I had an exceptional payment history and this year I have been paying on time and they closed it out of nowhere with no warning.
Would I be able to get the VS card removed from my account? It has a great payment history and says current. It has been 7 years since I've closed it. As for the other 2 charged off CC, Should i make payments towards it?
COLLECTIONS:
EOS CCA. Original Creditor Sallie Mae. Bal: $11,844. Went into collections on 7/18/19.
Once I found out that it went into collections, I called the CA and made payment arrangements to pay it off for 2 years. But I saw on one of the forums that I should first ask if they do PFD or negotiate a settlement and get a letter stating this before making any payments so I can have it removed from my credit report because this decreased my credit score A LOT. So I haven't made any payments towards it yet. But Im confused as to should I make the payments or wait until it falls off?
PFD works better after you PIF in certain situations since you already did the deal. Cap 1 is next to impossible to get anything removed. As far as Citi. Cap1 even though they are starter cards. They are both maxed out and that spooked Citi. And probably along with the newer collection. No other advise than pay those 2 cards down quickly. Pay the rest of your debts off. Keep making your collection payments on time. Dont use the credit cards until they're paid. If you can afford it. Dont charge it. Good Luck! Welcome to the forums.
Hi Angel,
Citi closed your account because your credit cards are maxed out, you have charge offs and collections. You need to payoff your current Cap1 accounts, Kohls charge off and stay current/keep paying your collections acct as you agreed to. And have yourself removed as an AU on the Credit One acct.
You need to take care of this before worrying about more/new CCs or CLIs. Unfortunately, it's probably going to be difficult to get these derogs removed for a while.
Get your accounts paid off, hang around here and learn from some of the pros (they're always willing to help) and do lots of reading on these forums to help educate you on the world of credit.
Welcome to the forums!
Hi Angel - welcome to the forums! First -- your credit situation is not hopeless, you're just going to need a ton of discipline, patience, and determination to improve your credit profile.
@Anonymous wrote:
CREDIT CARDS
- Capital One Platinum. Credit Limit of $200. 99% Utilization
- Capital One QS. $500 CL. 175% Utilization
I have several late payments on both of these accounts from 30-90 days past due. Is there anyway I can remove these late payments like sending a GW letter? Or what other tips do you have on taking care of these?
The first thing you need to do is pay off these balances and keep them low. In your situation, you should be reporting no more than 8.9% of the credit limit on only one of the two cards per month so that you may control your utilization and prove to the creditors that you can use credit responsibly. For example, one month, you may either:
(1) allow your Platinum to report no more than $17.80 and your QS report $0.
(2) allow your QS to report no more than $44.50 and your Platinum report $0.
To do this, learn when your statement closing date is for each card - not your payment due date - your statement closing date (you can find this by looking at your most recent statement -- it is the last date of your 30-day billing cycle). The balance that is noted on your statement is the balance that is reported to the credit bureaus. This means that you can use the cards up to their limit and then pay them PRIOR to the statement closing date. You would pay one card to $0 and the other to less than 8.9% of it's credit limit. You will then need to pay the remaining balance for the card you let report less than 8.9%, by the due date. As stated by a previous poster -- do not charge what you can't pay by the statement closing date.
Aside: I noticed in one of your reply posts that you inquired about CLIs -- forget getting a CLI for now. It's not going to happen. You need to control your utilization, fix some of the derogatory information on your credit report, and maintian a positive payment history for at least 6 months (maybe even a year) before even considering asking for a CLI.
As for the late payments -- you should start a Goodwill campaign after you've shown some history of responsible use and on-time payments. Again, a minimum of 6 months of perfect history. You need to give them a reason to want to help you & give you a clean slate - but right now, your current credit behavior and overall history reflects an irresponsible borrower. So.. for now, clean up what you can -- get some positive history going, then start Goodwilling the heck out of them.
@Anonymous wrote:
CLOSED CREDIT CARDS
- Credit One Bank. Charged off due to nonpayment on 7/18/18 with Bal of $591. I was an AU on this card
- Kohls. Charged off due to nonpayment on 6/24/18 with a bal of $338
- Victoria Secret- I closed this my account myself on 10/24/13 when I was young not knowing the impact it will have on my credit scores. Never carried a balance on it.
- CitiBank Thank You Rewards. Closed on 10/3/19. This doesn't show on my credit report yet. I've called many Citi repesentatives to figure out why this card was closed and all of them weren't able to give me a straight answer except for "A letter will be sent explaining why". Still waiting for the letter. I had an exceptional payment history and this year I have been paying on time and they closed it out of nowhere with no warning.
Have yourself removed as an AU from the Credit One Account. You could actually just dispute the account with each of the credit bureaus with the reason: 'Not Responsible', and the entire account should be removed fairly quickly with no additional effort required of you. This is, legally, not your debt.
Pay the charged-off accounts for which you are the primary account holder. They are too recent for you to ignore them. The outstanding balances are factoring into your overall credit utilization (even though they are closed accounts, they still count) and so long as the balance remains unpaid, the creditor may continue to update the account monthly or periodically with non-payment status' which will ding your scores each time. You need these derogatories to age so they hurt less over time - and that will not happen until they are closed with a $0 balance. Also, if you do not pay them, you risk the accounts being sold to collection agencies which may result in collection tradelines being added to your reports in addition to the original charge-off tradelines. Get them paid. The sooner they are paid off, the faster your scores can begin to recover (you may even see slight increases as their balances are updated to $0 because your overall utilization will decrease). Contact the creditor and work out payment arrangements if necessary, but pay them off. Once they are all paid and updated with a $0 balance on your reports, you can begin Goodwill campaigns and hope for goodwill removals (unlikely, but possible).
Forget the Citi Thank you card - they likely closed it due to your excessive utiilzation on the other two cards in conjunction with poor payment history. If that card still has a balance on it -- get it paid so the closed account is at least noted in good standing.
@Anonymous wrote:
Would I be able to get the VS card removed from my account? It has a great payment history and says current. It has been 7 years since I've closed it. As for the other 2 charged off CC, Should i make payments towards it?
Leave this account alone. This appears to be your oldest account so it's helping your scores right now because closed accounts are still factored into your average age of accounts. Accounts closed in good standing can remain on your reports for 10 years after the closed date. It will drop off on its own -- right now you need it.
@Anonymous wrote:
COLLECTIONS:
EOS CCA. Original Creditor Sallie Mae. Bal: $11,844. Went into collections on 7/18/19.
Once I found out that it went into collections, I called the CA and made payment arrangements to pay it off for 2 years. But I saw on one of the forums that I should first ask if they do PFD or negotiate a settlement and get a letter stating this before making any payments so I can have it removed from my credit report because this decreased my credit score A LOT. So I haven't made any payments towards it yet. But Im confused as to should I make the payments or wait until it falls off?
What is the Date of First Delinquency (DOFD) of this debt (the DOFD is the month / year the account first went delinquent and was never brought current). The account will remain on your reports for 7 years and 180 days past the DOFD - it doesn't matter when the collection agency finally added the account to your reports - what matters is the DOFD. I don't know if you'll be able to negotiate a PFD with Sallie Mae -- but you should search the forums for 'Sallie Mae' and see how others have dealt with them. The amount of the debt is quite high -- not paying it could be risky because you are likely to be sued if you're still within your state's Statute of Limitations (SOL) for debt collection. You should find out the SOL for your state and do some additional research on Sallie Mae loans. When is your first payment due, per your payment arrangement?
