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This credit game sucks....

wennyvw1
New Member

This credit game sucks....

Hey everyone. I had pretty decent credit (740ish) until about 2.5 years ago. Had a emergency medical issue, and lost my job. So, payments went to nil. I'm working again, and Im trying to rebuild my credit (545 atm). Is there any way to get some leaniency because of medical?

Message 1 of 10
9 REPLIES 9
OmarGB9
Community Leader
Super Contributor

Re: This credit game sucks....

You'd have to contact each creditor individually.


Last App: 05/30/2021
Capital One Auto Refinance Loan

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 2 of 10
KatSoDak
Frequent Contributor

Re: This credit game sucks....

Hi @wennyvw1!  What exactly are you looking for leniency on?  Ability to get new credit or do you mean leniency in reporting past due payments?

 

If you give more info someone will probably have some ideas for you.

FICO 8:

EQ FICO 9 - 770
EX FICO 9 - 754

Citi (2) | Discover | HSBC | BOA | NFCU (2) | WF (2) | Simmons Bank | FNBO (2) | PENFED | BBVA | US Bank | Lowes | Care Credit | Home Depot AU
Message 3 of 10
mja1970
Established Member

Re: This credit game sucks....

As mentioned above, it really all depends on the creditor.  It's best to contact them directly to discuss what options may be available to settle any old debts.  

Message 4 of 10
wennyvw1
New Member

Re: This credit game sucks....

Leniency on repayments and reporting. I completely understand from a company standpoint, but its not like i just flaked off payments and such. I had a medically valid reason.

Message 5 of 10
Remedios
Moderator

Re: This credit game sucks....

If I understood your question correctly, you defaulted on your accounts because of medical issues. 

There is no leniency just because the root cause was medical. 

How you approach it depends on what happened to those accounts. If they are still open, you can try GW approach. 

If they are charged off by original creditors, they will be gone no later than 7.5 years from DOFD. 

Best you can do is pay/settle so they stop reporting and your scores can start recovering. 

If you have collection accounts, try negotiating pay for delete whenever  possible. Collection accounts with balances can stop your credit from improving for a really long time. 

Message 6 of 10
wennyvw1
New Member

Re: This credit game sucks....

 


@Remedios wrote:

If I understood your question correctly, you defaulted on your accounts because of medical issues. 

There is no leniency just because the root cause was medical. 

How you approach it depends on what happened to those accounts. If they are still open, you can try GW approach. 

If they are charged off by original creditors, they will be gone no later than 7.5 years from DOFD. 

Best you can do is pay/settle so they stop reporting and your scores can start recovering. 

 

If you have collection accounts, try negotiating pay for delete whenever  possible. Collection accounts with balances can stop your credit from improving for a really long time. 


Thank you, thats what i was looking for....

Message 7 of 10
FireMedic1
Super Contributor

Re: This credit game sucks....

@Remediosgave great advice. As usual. I'll just say its best to pay yourself first 10% of your take home pay to a savings account for when situations come up like this. This is for really anyone who reads this. You never know when a hardball might be thrown at you. Then you can make the min payments and never get behind. Save up a min of 6 months of the total bills for the future God forbid anything ever happens. Least you'll be prepared and covered. Hope all is better now.






My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's.
Message 8 of 10
wennyvw1
New Member

Re: This credit game sucks....

 


@FireMedic1 wrote:

@Remediosgave great advice. As usual. I'll just say its best to pay yourself first 10% of your take home pay to a savings account for when situations come up like this. This is for really anyone who reads this. You never know when a hardball might be thrown at you. Then you can make the min payments and never get behind. Save up a min of 6 months of the total bills for the future God forbid anything ever happens. Least you'll be prepared and covered. Hope all is better now.


Better is subjective, but i'm working again and trying to get this fixed. Thank you.

Message 9 of 10
FinStar
Moderator

Re: This credit game sucks....

Comments that were not in adherence to the myFICO Forums Etiquette Guidelines have been removed.  Adherence to Friendly, Supportive and Respectful interactions is not an option folks. For those who were found in violation of the myFICO Forums Terms of Service, PMs have be sent accordingly.

 

I suggest that if any further dialogue is to continue on this topic, please keep it civil. This is not a place for a cage match.  Otherwise, this thread will be locked permanently.

 

Thank you.

 

-FS

Message 10 of 10
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