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It was two years today that I stumbled across these forums. It was by fluke really. Someone at another repair-like forum suggested I come over here and have been here ever since. Two years ago and a couple of days I started with 0 open CCs, approx 5 or 6 CAs, about a half dozen COs, a couple of paid and closed CCs with 30-90 day lates, a redeemed repo with lates, and at least one judgment that was reporting in duplicate. The only thing going for me was a current car loan with 19.9% interest at $606/month (a product of having bad credit).
Why repair? You don't know what you don't know and I thought my scores, which were in the mid to low 500s, would get me approved for almost anything. My scores are in the siggy below, and I jumped in apping for CCs like Citi, Chase, Amex, Discover, Merrill+, Diner's Club, and the like. It was no shocker that of the 30+ inquiries that appeared that month (8/2007), not a single one resulted in an approval. I then retooled and figured a secured card might work. Well, both Citi and BofA turned me down for a secured card. I knew right away that repair was the answer.
So, I came here humbly on August 4 and started reading, and rereading. I pulled scores and poured over every single report in great detail. I tracked my progress. After about a month of hard work and correction of many errors (lots of double reporting), I dove into rebuilding my credit. Within a couple of weeks I was preapproved for a Credit One and took that. A week later, Orchard approved me for a secured CC. Within 30-45 days, my scores increased by an average of 100 points. I then was approved for others as the score increased. Made mistakes along the way like almost being sued after sending PFD letters and DVs. I challenged the reporting of several accounts that weren't even hurting me and lost history and points. But through today, it has been a fun ride with scores into the 700s and CC approvals I only dreamed of like Discover and Amex and CLs into the tens of thousands.
I owe you guys (past and present) a debt of gratitude. It was through your advice, input, suggestions, comments, hints, etc. that helped. Thanks for taking the time to help me and others here. Pay it forward, right?
Off the top of my head, here's some random thoughts in no particular order of things I learned along the way:
First of all, congrats on the development llecs. WTG. And thanks for all the help youve been to me esp. in the beginning when I was in a similar situation as you were though not as bad.
But, I'll half disagree on the CA PP thing. Also, about that you mods dont get paid. Stop feeding that now.
So if the DV in here are trash, for someone like me who is tackling my CC, what do I use since disputing is bad? I have already sent out DV letters that I got from here. I also send PFD that I got from here.
In a prev thread you told me to DV the CA.
??
KBELL4 wrote:So if the DV in here are trash, for someone like me who is tackling my CC, what do I use since disputing is bad? I have already sent out DV letters that I got from here. I also send PFD that I got from here.
In a prev thread you told me to DV the CA.
??
Ah...I said: "IMO, most of the DV letters in here are trash....", not all. I recommend always starting with this simple DV letter enhanced in blue:
The other letters (about 95%+) list a laundry list of items that have to be provided by a CA. There is no law that requires them to provide all of that. It is junk because you are asking the CA to provide stuff they don't even have to. Furthermore, everyone is using that letter. CAs who receive that, by this point, are probably chuckling. That's why I hold my opinion that the letters are trash.
IMO, always send the basic letter in the link above. Wait 45 days, then send a different DV letter (yes, including the one that I consider trash). But send it with the knowledge that they don't have to provide all of that. After the second attempt, then force open dialog via a letter to the BBB, your AG, etc.
You didn't hurt yourself by sending that large laundry list DV letter (assuming that's the one you sent).
The PFDs from here aren't bad, IMO. Personally, and this is me, I view PFDs as a GW for unpaid debt. Nobody has to respond to a PFD. So, I took out the timed requirement, I cust back on the legal jargon, and I send mine with a stamp. I do however have sent them CMRRR to a CA, to start anyway.
guiness56 wrote:
OMG! Bigfoot is not real!
Sorry to spread the bad news like this. The Loch Ness Monster ate him.
Thanks for all your solid and helpful posts - this one is my very favorite.
So, here's a big Thank you!!!
and a huge HUG!!!!
War stories are the best - they are what keeps us working on our stuff when it just gets tough - we can now see the light at the end of the tunnel and know we're not alone on our journey!