Hey all, I'm new here and have been trying to learn everything I can to improve my credit. Long story short, it's been a rough few years and my credit(and wife's), severely took a hit. We just let things go and paid no attention to it. Obviously, I'm learning why that wasn't a good idea.
I had no credit cards, no credit use other than auto loans. Most recent auto loan is 8 months old and 100% on time, but a ridiculously high interest rate. Also have an auto loan at a buy here/pay here that doesn't report. I have 1 repossession listed at a $3,300 balance(motor blew, didn't have money to fix it, let them take it). Another voluntary repo listed as a charge off with a $15,000 balance. Both had a whole bunch of late payments.
3 collections accounts. Only one shows across all 3, a Verizon account that's with a collections agency. Transunion has 3 collections listed, the oldest is at 6 years, 3 months so I'll just let that one fall off. Experian and Equifax only show the Verizon for $763 and it's only 2 years old. Should I PFD this one?
Here's where I stand:
Experian - 656 after Boost.(611 before.)
TU - 551
EQ - 532
Ive applied for, and received both a Cap One QuickSilver and LendUp Arrow card with $300/$500 limits respectively. My installment account is the car loan and those on time payments have brought my scores up from the high 400s to where they are now. Should I try for another CC to have 3? I understand utilization and balances now so I'll definitely keep those where they need to be.
We also had one CC that had a wage garnishment against us. The judgment has went away because of employment change but it still shows as a charge off with a $3,300 balance.
I also have paperwork from our previous landlord that's taking us to court for a $7,500 balance, claiming property damage and past due rent.
We had retained an attorney last year for BK but couldn't even afford to file at the time. Would that still be the best option with all of the outstanding charge off/derogatory items we have or am I on the right path?
