Rebuilding. How should I do this

[jason0618]

Hi.  I've been a member here for a while, got my score to a respectable level of the 700 club, and then had some issues come up.  My fault, but it ended up tanking my score.  Now, I'm working on getting everything rebuilt.  I apologize for the long post, but I'm including a lot of details.  My score is in the mid-upper 500s now.  I'm current on everything that is not charged off, but there are a few of those...  

Verizon-- $1,794.  Reporting monthly.  Still with VZW.  Will they settle?  Delete?

Progressive insurance-- $360 with Caine Weiner law firm.  They say they'll pfd, but they won't put in writing.  Are they okay to deal with?

1st energy (electric bill from ex house) $1,596 with Associated Credit Svcs.  They send me a letter about twice a month, but no calls.  PFD?

Capital One-  $4,381.  They sued.  Case was dismissed.  They still call and offer settlements.  Most recently offered $2500.

Affirm Finance--  $1620.  I think the actual balance is about $900, and they're just reporting the original balance.  Not sure.  Haven't heard from them.

Some cash advance thing on joint account.  I didn't get it, but I paid it off.  Reports as paid.  Will this company delete if requested?

Thats it for collections...

I was late on my car for about a year.  VW credit.  Current now.  They really helped me out, maybe because they don't want the car back, but I like to think its also because I paid it very well the first three years.  Do they do goodwill?

GM Financial lease.  This is wifes car.  I'm joint.  It was late to the point that I expected a phone call from her to pick her up from wherever she was at the time because of repo.  Never happened, though.  Current now, but it did get to 120 day late.  Is goodwill even an option with something that late?  Lease is up in about 4 months.  

Lowes credit.  $933 balance.  Was late, but got a payment program with them so its not charged off.  0% interest until paid off, but acct closed.

Kohls credit card.  $1100 balance.  Same as Lowes.  0% for 36 months, equal payment, but account closed.

Student loans are fine.  Discover was fine, but they still closed my account.  $0 balance now, never late.  A few other piddly small credit cards, all paid off, never late, etc.  

My income when this all started was around $50k per year.  I got a promotion and I'm now much higher.  Like $100k a year higher.  I just want to get all these negatives out of my life, but I'm not sure the best course of action.  Advice is appreciated.  

[simplegirl]

Verizon does not like to do PFD so you might have a better chance with a goodwill with them. Good Luck!!

[Remedios]

---

@jason0618 wrote:

Hi.  I've been a member here for a while, got my score to a respectable level of the 700 club, and then had some issues come up.  My fault, but it ended up tanking my score.  Now, I'm working on getting everything rebuilt.  I apologize for the long post, but I'm including a lot of details.  My score is in the mid-upper 500s now.  I'm current on everything that is not charged off, but there are a few of those...  

Verizon-- $1,794.  Reporting monthly.  Still with VZW.  Will they settle?  Delete? They wont delete, not sure about settlement. 

Progressive insurance-- $360 with Caine Weiner law firm.  They say they'll pfd, but they won't put in writing.  Are they okay to deal with? Most collection agencies will not give anything in writing when it comes to PFD because it's against CRAs policy to delete, only to update with correct info. In general, if told that they will deleted, most do. It can take up to 45 days. 

1st energy (electric bill from ex house) $1,596 with Associated Credit Svcs.  They send me a letter about twice a month, but no calls.  PFD?  You will have to ask them. If they say no, next best stepp is paying, either in full or asking to settle for less 

Capital One-  $4,381.  They sued.  Case was dismissed.  They still call and offer settlements.  Most recently offered $2500. 

If the goal is to clean up your CR, take the settlement. You could conceivably wait longer to see if they offer lower amount or try negotiating yourself 

Affirm Finance--  $1620.  I think the actual balance is about $900, and they're just reporting the original balance.  Not sure.  Haven't heard from them.  Not sure. Someone else will know 

Some cash advance thing on joint account.  I didn't get it, but I paid it off.  Reports as paid.  Will this company delete if requested?

Thats it for collections...

I was late on my car for about a year.  VW credit.  Current now.  They really helped me out, maybe because they don't want the car back, but I like to think its also because I paid it very well the first three years.  Do they do goodwill?

GM Financial lease.  This is wifes car.  I'm joint.  It was late to the point that I expected a phone call from her to pick her up from wherever she was at the time because of repo.  Never happened, though.  Current now, but it did get to 120 day late.  Is goodwill even an option with something that late?  Lease is up in about 4 months.  

Those lates are not so much of priority as your charge offs and collections, though. Focus on those. You can work on GW later 

Lowes credit.  $933 balance.  Was late, but got a payment program with them so its not charged off.  0% interest until paid off, but acct closed. Continue making payments, that's all you can do for now 

Kohls credit card.  $1100 balance.  Same as Lowes.  0% for 36 months, equal payment, but account closed. Continue making payments, that's all you can do for now 

Student loans are fine.  Discover was fine, but they still closed my account.  $0 balance now, never late.  A few other piddly small credit cards, all paid off, never late, etc.  

My income when this all started was around $50k per year.  I got a promotion and I'm now much higher.  Like $100k a year higher.  I just want to get all these negatives out of my life, but I'm not sure the best course of action.  Advice is appreciated.  

---

One thing I want to add is, while you're trying to clean up your CR, also focus on building some savings if at all possible. 

Having enough to cover minimum payments in case "something happens" again is crucial. 

So, when you start paying off COs and collections, do what you can, but not start paying too aggressively at the detriment of cash flow.

It would be fixing one problem while creating another. 

Pick an account and start working on it. Go down your list till all are resolved. Being that this is not your first attempt at rebuilding, you already know it's going to take time.

Good luck!