Happy New Year Everyone!!!!!
Here's my story... I have been rebuilding my credit since June 2019 in my own way. I started with several secured credit cards (I think I had seven at one point). Around this time I believe secured credit cards were switching over to no annual fee. So I went back to the drawing board and was eliminating serveral cards that had annuals fees and wanted cards that would preferably upgrade and/or unsecure. I've made major progress with my scores simply by disputing collections, paying ontime and degrogatories aging and/or falling off my report. That has reached its course as it now seems.
I now understand that charge-offs that report monthly doesn't help and I have two new medical collections that have popped on my report plus two other collection accounts that would not budge during my disputing spree. Here are the numbers...
Charge-offs w/ Balances that report monthly
First Progress Card $158 - plan to take care of this in Jan 2022 - Paid 01/13/22
Green Dot Secured $73 - plan to take care of this in Jan 2022 - Paid 01/13/22
Charge-offs w/ Balances that DO NOT update monthly
OneUnited Bank $228 - need advice wait or pay (due to fall off 06/24 lasted updated 10/31/19)
Collections Accounts
Credit Collection Services (medical) $131 - plan to take care of this Feb 2022 PFD (added in 2021)
Credit Collection Services (medical) $758 - plan to take care of this by March 2022 PDF (added on 2021)
Enhanced Recovery Company (Sprint) $481 - need advice wait or PFD (due to fall of 04/23)
LVNV Funding (CreditOne Bank) $1426 - need advice may PFD or wait (due to fall off 01/24)
Next, I'd like to get my student all student loans at or under 30% utilization. After accomplishing the above hopefully I'll obtain the credit rating of GOOD. 670+ FICO or better. Any additional information, help or advice would be appreciated. I'll be updating regularly as task above are attempted and/or completed.
P.S. Better scores for everyone in 2022!
@sznthescore wrote:Happy New Year Everyone!!!!!
Here's my story... I have been rebuilding my credit since June 2019 in my own way. I started with several secured credit cards (I think I had seven at one point). Around this time I believe secured credit cards were switching over to no annual fee. So I went back to the drawing board and was eliminating serveral cards that had annuals fees and wanted cards that would preferably upgrade and/or unsecure. I've made major progress with my scores simply by disputing collections, paying ontime and degrogatories aging and/or falling off my report. That has reached its course as it now seems.
I now understand that charge-offs that report monthly doesn't help and I have two new medical collections that have popped on my report plus two other collection accounts that would not budge during my disputing spree. Here are the numbers...
Charge-offs w/ Balances that update monthly
First Progress Card $158 - plan to take care of this in Jan 2022
Green Dot Secured $73 - plan to take care of this in Jan 2022
Charge-offs w/ Balances that DO NOT update monthly
OneUnited Bank $228 - need advice wait or pay (due to fall off 06/24 lasted updated 10/31/19)
Collections Accounts
Credit Collection Services (medical) $131 - plan to take care of this Feb 2022 PFD (added in 2021)
Credit Collection Services (medical) $758 - plan to take care of this by March 2022 PDF (added on 2021)
Enhanced Recovery Company (Sprint) $481 - need advice wait or PFD (due to fall of 04/23)
LVNV Funding (CreditOne Bank) $1426 - need advice may PFD or wait (due to fall off 01/24)
Next, I'd like to get my student all student loans at or under 30% utilization. After accomplishing the above hopefully I'll obtain the credit rating of GOOD. 670+ FICO or better. Any additional information, help or advice would be appreciated. I'll be updating regularly as task above are attempted and/or completed.
P.S. Better scores for everyone in 2022!
The ones that are hurting the most are the CO's. Never seen such low CO balances. They arent known for GW deletions. But with those amounts I'd give it a whirl and call in and ask when it comes time to pay them. For a couple hundred bucks dont know why you let them get to that point. But thats hindsite now. LVNV will PFD. Sprint has had many reports if you pay them they will recall the CA. Its not 100%. But it has had some approvals. Dont know about CCS. Fix whats broken first so higher scores will come once the baddies are taken care of. Then apply for newer things. Less baddies. Higher scores, better approvals , and most of all. Lower APR's.
@FireMedic1 wrote:The ones that are hurting the most are the CO's. Never seen such low CO balances. They arent known for GW deletions. But with those amounts I'd give it a whirl and call in and ask when it comes time to pay them. For a couple hundred bucks dont know why you let them get to that point. But thats hindsite now. LVNV will PFD. Sprint has had many reports if you pay them they will recall the CA. Its not 100%. But it has had some approvals. Dont know about CCS. Fix whats broken first so higher scores will come once the baddies are taken care of. Then apply for newer things. Less baddies. Higher scores, better approvals , and most of all. Lower APR's.
Thank you @FireMedic1 for your response. Yes, I know that charge-offs will run their full course. I just don't want balances reported and definitely not updating monthly. Green Dot - I believe its balance were the fees after charge-off and retaining the funds that were placed on deposit. First Progress - can't remember the details but it was a worthless low limit secured card and at this point I just want to pay and stop the monthly updating. Next, I'll work with LVNV for PFD. Now with the Sprint account, when the time is right and I have funds ready and available I'll address them for options before working with Enhanced Recovery Company. CCS (medial collections that happened during the begining of the pandemic) I think I heard they do PDF. OneUnited - I'm willing to wait it out as I don't intend on applying for anything any time soon, but will pay as well eventually I'm sure. BK is due to fall off July/August of 2023. I will try EE on that (6 months early with TransUnion, 3 months early with Experian and I believe I'll have to wait the full course with Equifax).
Paying OneUnited won't re-age anything will it? Or just update that the balance was paid? It's sleeping right now and I'm not trying to poke the bear.
It's a process and these are goals that I will tackle this year. If I accouplish all this and get my student loans below 30% ($3,055 required to reach this goal) I should be in good shape moving forward. Especially after my BK drops off my reports. Thanks again.
Cool. You got a good plan. But try Sprint directly when the time comes. Heres to 2022 and 700+!
I'm making progress. Just wanted to update this thread. I'm down to 1 collection left, which is LVNV Funding. I'll try EE in June/July.
I'm climbing up the ladder. Utilization was 70% in January. Waiting for Apple Card's delayed updating to see where I really stand. Good News came in from Experian today 654 FICO. In the garden until I'm inquiry free or 700+ whichever come first. Kind forced in the garden due to inquiries 😑🫠 but slow and steady wins the race.
" but slow and steady wins the race." Yep. And util is a killer too. Keep at it and get below 6%. Nice job the past year. Takes time. You'll get there.
Thanks so much @FireMedic1 It will be once Apple Card updates 😩. You're one of my top mentors! 👊🏽🦾 Appreciate the advice you give to the community!
Just paying it forward @sznthescore . Majority that helped me have left the scene. Plus it gives me something to do when its down time at the FD. Still see the TV. Get tired of looking at the same people every 3 days for 24 hrs. LOL!!!!!!!!!!!!!!!!!! 
Op,
Thanks for sharing, this is a big motivation.
