Hey everyone -
I'm new to the forums, though I have checked them on and off for the past few years when I needed advice. Now I am so confused, and I just need help.
Long story short: I racked up $20k CC debt and $5k medical debt between 2003 and 2007. In late 2007 I was struggling to keep up and entered credit counseling to take control. I successfully paid off all accounts in 2008 - partially due to help from credit counseling, and partially due to a home refinance where I rolled in the remaining debt.
In 2010 I started to attempt rebuilding and opened a few credit cards - a Macy's with $250 and a Cap One with $750. I was happy to get credit, and the accounts are still open and paid as agreed. In 2012 I opened a few new cards (store cards) and in 2013 opened two new more reg CC's (Barclaycard / Apple financing & First National Bank). Again, everything paid as agreed. I also sold a home in May 2013 and purchased a new one in June 2013.
When I purchased my new home, I was surprised that my scores were not what I expected after 5ish years of successfully completing credit counseling. Now that I am settled in to the new house, I want to join the ranks and get my score where I want it to be (650+).
Alright, now that that is out there... I joined USAA credit monitoring this evening and have my starting point:
Experian 592
Equifax 585
TransUnion 640 (what the...?)
USAA's credit monitoring is showing 4 negative accounts:
1 medical from 4/2008 showing as paid in full but 30 days late
1 medical from 7/2008 showing as paid in full 3/2010 with no date in between
1 old Macy's account that was part of credit counseling, reported as paid on time 6/2005 - 05/2008 and then 30 days late 06/2008 when it was paid off (not true)
1 Verizon Wireless account - reported as a charge off from 12/2009 - 6/2010 and then collections from 6/2010 to 9/2013. This was a &%@$&! cancellation fee. I was arguing with them over allowing me to cancel because I could not get service in my home. They didn't back down. Honestly, I had forgotten all about it.
USAA's credit score predictor thingy shows a potential 700 score if I can get these four removed. Here is where I need advice. I already disputed all 4 through Experian, but I am wondering what my next steps are. Do I contact Verizon (who I haven't heard from in years) and try to pay the $285 cancellation fee they are reporting? Would that even help? I assume it will still show as massively late. Any way to get the medical removed since they have been paid in full? I'm not as worried about the Macy's - I can prove that one was paid off on time.
Any help is appreciated!
Starting Score: Experian 592, Equifax 585, TransUnion 640
@IWillRebuild wrote:Hey everyone -
I'm new to the forums, though I have checked them on and off for the past few years when I needed advice. Now I am so confused, and I just need help.
Long story short: I racked up $20k CC debt and $5k medical debt between 2003 and 2007. In late 2007 I was struggling to keep up and entered credit counseling to take control. I successfully paid off all accounts in 2008 - partially due to help from credit counseling, and partially due to a home refinance where I rolled in the remaining debt.
In 2010 I started to attempt rebuilding and opened a few credit cards - a Macy's with $250 and a Cap One with $750. I was happy to get credit, and the accounts are still open and paid as agreed. In 2012 I opened a few new cards (store cards) and in 2013 opened two new more reg CC's (Barclaycard / Apple financing & First National Bank). Again, everything paid as agreed. I also sold a home in May 2013 and purchased a new one in June 2013.
When I purchased my new home, I was surprised that my scores were not what I expected after 5ish years of successfully completing credit counseling. Now that I am settled in to the new house, I want to join the ranks and get my score where I want it to be (650+).
Alright, now that that is out there... I joined USAA credit monitoring this evening and have my starting point:
Experian 592
Equifax 585
TransUnion 640 (what the...?)
USAA's credit monitoring is showing 4 negative accounts:
1 medical from 4/2008 showing as paid in full but 30 days late
1 medical from 7/2008 showing as paid in full 3/2010 with no date in between
1 old Macy's account that was part of credit counseling, reported as paid on time 6/2005 - 05/2008 and then 30 days late 06/2008 when it was paid off (not true)
1 Verizon Wireless account - reported as a charge off from 12/2009 - 6/2010 and then collections from 6/2010 to 9/2013. This was a &%@$&! cancellation fee. I was arguing with them over allowing me to cancel because I could not get service in my home. They didn't back down. Honestly, I had forgotten all about it.
USAA's credit score predictor thingy shows a potential 700 score if I can get these four removed. Here is where I need advice. I already disputed all 4 through Experian, but I am wondering what my next steps are. Do I contact Verizon (who I haven't heard from in years) and try to pay the $285 cancellation fee they are reporting? Would that even help? I assume it will still show as massively late. Any way to get the medical removed since they have been paid in full? I'm not as worried about the Macy's - I can prove that one was paid off on time.
Any help is appreciated!
1. Did you already pay Verizon? Does a CA own the account now? Are they reporting as well? If not, try to contact Verizon and get a PFD. 2. Send a Goodwill removal letter for the medical accounts 3. Send a goodwill removal to Macy's; you are a current customer, maybe they will be happy to work with you....4. Since you already disputed the accounts through EX, you might want to see what comes of the investigation.
My two cents: I think time served and good behavior are going to get your scores up where you want them. I wish all I only had 4 baddies to work off. Congrats to you!!!!
012019 Fico8/Mortgage Score: 
Hi newmomnewme - Thanks! I haven't yet paid Verizon. What is a PFD? I'm not up on the lingo yet.1. Did you already pay Verizon? Does a CA own the account now? Are they reporting as well? If not, try to contact Verizon and get a PFD. 2. Send a Goodwill removal letter for the medical accounts 3. Send a goodwill removal to Macy's; you are a current customer, maybe they will be happy to work with you....4. Since you already disputed the accounts through EX, you might want to see what comes of the investigation.
My two cents: I think time served and good behavior are going to get your scores up where you want them. I wish all I only had 4 baddies to work off. Congrats to you!!!!
I apologize...Pay For Delete (PFD). Contact them and offer to pay the account in exchange for them deleting their tradeline from your credit report.
You can seach the site, there are a few threads that outline acronyms, letter samples, success stories etc.
@RobertEG wrote:The actual scoring of the negative accounts is not improved by the debt now being paid.
It is very important to your credit to have paid, but not important to scoring.
For each negative account, the important scoring consideration is what specific derogs were reported, and their relevant dates.
A 30-late that is more than two years of age is, for example, almost insignificant.
Major significance is, as the name implies, on the type and age of your major derogs.
For any reported collection or charge-off, the relevant date is the DOFD on the OC account, as those major derogs will become excluded no later than 7 years plus 180 days from the DOFD.
What is the DOFD on those derogs? If they are to become excluded prior to your next need to use your score for seeking new credit, then GW requests for earlier deltion might not be that important.
In summary, can you provide the type and date of your derogs? Next steps will depend upon that info.
Hi RobertEG - Thanks for the help! DOFD... Date of First Derogatory? Sorry, just starting to learn the lingo. Here is what I have:
Medical #1 - $89, showing as an open collections account. Experian shows it as KD on the credit mon version, and C on the disputer version, both April 2008 with no reporting before or after then. To my knowledge this was paid off in 2008, but it was so long ago I just don't remember.
Medical #2 - $174, showing as assigned to a law office and closed, Experian shows it reported as C 09/2008, no data for 08/2008 through 02/2010 and then closed 03/2010.
Macy's - Account was part of credit counseling. Shows as OK 06/2005 through 05/08, and then 30 days late in 06/08 when the account was closed and paid off. They continued to report it as "closed at credit grantor's request" though 05/2012 even thought it was paid off.
Verizon - $285, showing as CO 12/2009 through 06/2010 and then C from 07/2010 through 09/2013. This was a cancellation fee for wireless service. I wasn't receiving signal in my home, Verizon wouldn't let me out of my contract, and I honestly forgot about it until I pulled my credit yesterday. I haven't had any contact with them since cancelling in 12/2009.
Also, there are two medicals showing on my Equifax that I was unaware of:
Medical - $82, showing as unpaid from 4/2009 and closed.
Medical - $130, showing as unpaid from 12/2008 and closed.
There is no contact info for either of these so I don't know who to call....
Thanks again for your help!
@themizlyne wrote:
Have you requested your free annual reports from annualcreditreport.com? Those reports will have contact information on them.
I am not due for another round of free reports until January. I tried Equifax's online dispute... but apparently I didn't answer their security questions right LOL. How do they know more about me than I know???