Some Help Please! A View of my accounts, what should i do?

[Anonymous]

hello, just wanted some input from people on here to see what they would suggest in improving and rebuilding my credit.

I signed up for scorewatch and my EX is 567, pulled it from someplace else and it was before a 548 sometime in october. I am waiting until i get my score around the mid 600s until i might apply for a NEW Credit Card if anything Secured CC with my current back Wells Fargo so i can keep this new account current, on time, perfect so it can hopefully help my score.

Here are my accounts.

Emblem CC: only revolving CC account, playing atleast $ 60 a month, even more if i have it starting Feb 2010

Student Loan: not paying currently still in school

Chase CC / AAC : chase sent to collections currently collections is taking out  $100 automatically every month is early 09.

okay big question: for these other accounts with $0 balance such as GEMB/AMERI this is an account from American Eagle clothing company, is there anyway i can remove these accounts? I am curently 24 turning 25 in april, and had my first CC opened when i was 18. since it will be soon 7 years will any of the closed, $0 balance accounts drop?

thanks for reading. =] 

Message Edited by sonson on 02-12-2010 11:49 PM

[Anonymous]

Here is the link to the image of my accounts

http://i2.photobucket.com/albums/y14/VirgilDPinoy/accounts.jpg 

Message Edited by sonson on 02-13-2010 04:35 PM

[Anonymous]

I would try to help you but, I don't see anything.  Can you maybe cut and paste?

[Anonymous]

okay put the image link to the picture of all my accounts. =]

[Anonymous]

Are the closed accounts paid? What are the DOFD of the accounts?

If they are paid about the only thing you can do is send GW letters asking that they be removed.  They do not have to do this but it doesn't hurt to ask.

The one for AAC, which is 120 days past due has a balance. Is this account still opened?  If it is I would be getting the balance paid down.

[Anonymous]

bump

[RobertEG]

Pay, pay, pay!

My honest opinion.

You have a multitude of major derogs on your CR.

And what is troubling is that they appear to have occurred within a very short time of account opening.  Most within the last few years.

 

Let me start with the Act account, which is probably my most troubling.

You apparently opened that account, per your CR, in 11/2008.  By today’s date,you are over 120 days delinquent on that account, with a balance due of over $2K.

What that tells a creditor is that, in less than a year after opening that account, you were unable to make min. payments, and posted increasing monthly derogs for at least four months, that you did not meet.  Now, they can post an additional charge off or collection at any time, with an additional scar on your CR, and drop of FICO score.

 

Jeffsncp, opened in 2007, also reached 120+ days on delinquency, and is also ripe for a future CO or CA reporting.

 

Two accounts, the Chase and BoA, have reached collection status.  There must have been major derogs reported by each on their OC accounts before the CAs were posted.  And those prior derogs are also affecting FICO scoring.

 

It may sound like I am hammering you, and forgive me if I am.

 

In each of your delinquent accounts, they  have probably already increased your default APR to around the 29% default rate.  For each $1K of debt, that is an annual accrual of nearly $300.

So by letting the debt reside, the dig out becomes harder.

I wish you luck!

[Anonymous]

thanks, i will definitely learned from what i have done and have not done to prevent this. for the Bank of America CC they have sold it to another company, and i have paid it off through a settlement. would it be a good idea to write both companys a GW???  if the account has been settled.