I am starting this thread about midway through my journey. I only recently cam back to the MyFico forums after spending some time here years ago. My goals for the rebuild are to clear my credit profiles, qualify for a new vehicle at a reasonable APR, get a couple of decent cards (Savor One and Wells Fargo Propel AmEx are my current goals), and remain debt free. I got into nearly $200k in credit card and personal loan debt over a period of about 10 years. I finally ended up in a place where my husband and I couldn't pay the minimums and we also couldn't file for bankruptcy. They offered us a chapter 13 based on our income, but it was not feasible whatsoever. We decided to stop paying and settle the debts as best we could back in 2016 and we have been steadily climbing out from under the debts one account at a time since then. I have not settled all of these yet, but there are just a few more to go (as money allows).
I started working on getting my credit back in shape a few months ago and I have made some good progress on it. Many inaccurately reporting items have already been removed from my credit reports and I am continuing to work on the remaining ones. Here's where I am right now:
Current FICO Scores (1/4/19):
Experian - 613
Equifax - 610
TransUnion - 649
Credit Repair Items
Experian
Bank of America CC CO
USAA CC CO
JH Portfolio Debt Collection (Citi CC)
Citi CC CO
Chase CC CO
PenFed CC CO
US Bank/ Elan CC CO
Equifax
Bank of America CC CO
USAA CC CO
JH Portfolio Debt Collection (Citi CC)
Citi CC CO
Chase CC CO
PenFed CC CO
US Bank/ Elan CC CO
TransUnion
Bank of America CC CO
USAA CC CO
JH Portfolio Debt Collection (Citi CC)
Good for you! You gave me the best advice ever last night. I downloaded a debt reduction calculator last night and with some belt tightening, I can get the majority of my credit cards paid off within the next 18 months. I am sending all except the Amex Gold to the sock drawer today...maybe the freezer instead lol.
I will be following your progress!!
012019 Fico8/Mortgage Score: 
I am so glad I was able to help you! I saw everything you posted and it is reall the same place I was a couple of years ago. It took me a long time to put together the information needed to get out of that place and what the best course of action was so, so I definitely wanted to share it with you. 18 months is a very reasonable timeframe and I look forward to seeing you succeed amd get back your financial freedom!!!
@newmomnewme wrote:Good for you! You gave me the best advice ever last night. I downloaded a debt reduction calculator last night and with some belt tightening, I can get the majority of my credit cards paid off within the next 18 months. I am sending all except the Amex Gold to the sock drawer today...maybe the freezer instead lol.
I will be following your progress!!
Interestingly enough, DIYCredit, I actually kept a few of my cards from the time I was having the financial disaster. I could afford to pay the minimum payments on some of my smaller cards, so I kept up with those. So I have Target that is already a well established tradeline, several closed and paid store cards, and I got a few other ones earlier last year (Discover secured, Avant Mastercard, and LendUp Arrow Visa). Ironically, I think my score will be better than it ever was once I am done settling and disputing.
Update 1/7/2019
Sooo I applied for two Synchrony cards since my TU report is nearly clean and my score is Ok. When I built up my credit years ago, Synchrony (used to be called GE) was a great help because they are very easy to get approved for as long as you don't have too many negative accounts. They are pretty loyal with soft pull CLIs too if you actually use the accounts.
I first applied for the EBates Visa, which I really do want for credit building, but also because I use the crap out of EBates and want extra cash back. I think they were having trouble verifying my phone number, so I called and they said they will have to send me something in the mail to verify my identity. I have seen some people on here with lower scores getting this lately, so I have my fingers crossed!
The second one I applied for is Gap. I was hoping for the Visa (even if it was a low limit), bu the store card always has the opportun ity to upgrade or at least get steady CLIs. They approved me for $200. I'm definitely going to use this card and PIF. I like Gap's jeans so I am hoping this card will offer some decent rewards or discounts.
I am probably going into the garden for now until all my disputes are completed and my utilization is down at 0%. After that, I will apply for my goal cards (Cap1 Savor and Wells Fargo Propel).
Update 1/8:
I PC'd my Discover secured card from the basic 1%/2% rewards program to the 5% quarterly categories program. I didn't realize you could do the PC before getting it unsecured. I feel a bit foolish now because I have been working hard to get the Cash Back Match at my anniversary month in March. But I will have all of February and March to get some more, so it works out! I think I have already earned something like $200 cash back on the card since I opened it, so I will get at least $240 in March if not more.
I settled a huge Chase balance today with Nationwide Credit. The original balance that charged off in 2016 was $9,508. I was able to settle the account for $1,140. I am very happy that I was able to settle this account and mitigate the risk of being sued. I have a few more accounts to go before I am finished settling, but my spirits are way up after finishing this one.
@Anonymous wrote:
Great job on the rebuild! 🎉
If you don't mind me asking... how did you pc the discover card? Hubby has one that unsecured in October and I've been thinking it would be nice to get the higher rewards version.
You can literally just message them through the online chat. I told them I wanted to change to the 5% rewards program. I think it took all of 10 minutes to do. I hope this helps!