Time to get serious about rebuilding

[Anonymous]

Hello All, 

Back in 2016 when I was filing bankruptcy I was constantly browsing the forums to gain info to make my recovery from bankruptcy better. I started off decent but then fell into some stuff and unfortunately made more bad decisions and then just ignored it for a while. Well, I don't want to do that anymore so I'm here to get serious about rebuilding my credit. 

I just signed up for monthly myfico again and here's where I'm at:

EXP - 598 1 inq

TU - 608 3 inq

EQ - 599 4 inq

AAoA - 

AooA - 

This is where the more bad decisions comes in. So here are the accounts I have. I've been carrying some high balances so my utilization is almost always maxed. I'm just dumb about paying the balance and then using again because I haven't been budgeting appropriately. I'm stopping that and working on paying my balances down. 

Capital One Plat (Just upgraded it to QS1) - $393/$500 with another $100 pending for today. One 30 day late from 6/2019.  

First Premiere - $178/$300

2nd First Premiere (I know...) - $620/$700 One 30 day late from 2/2019. 

Merrick - $455/$550

Target RedCard - $127/$300 Two 30 day lates from 1/2019 and 2/2019. One 60 day late from 8/2017

Kohls Charge - $188/$300 One 30 day late from 7/2019

Care Credit - $0/$1000

FIFSG Auto Loan 26/56 payments made, never late. Current balance is $6,904.

Unfortunately, I have 2 collections accounts that I just learned about. Technically 3 but the third one is one that is reporting incorrectly with TU. It was IIB but was reporting as though it wasn't even though it reports to EXP correctly. I've disputed with TU.  The two I have though. 

Convergent Outsourcing - $522 This was a cox account I had at my parents house becuase they could not get it. Unfortunately, when they split and moved out they closed the account without paying and didn't tell me so I just found out about it. What's the best course of action here? It was placed for collection last year. Is it too late to call Cox and ask them to recall? Should I try for a PFD with Convergent? 

Account Resolution Services - $220  An old doctor's bill from an ER visit. It's weird though because I feel like this should have been included in my bankrupcty. I think it's from a trip to the ER when I didn't have insurance back in 2015. However I filed bankruptcy in 2016. I'm going to have to do a DV on this. If it's supposed to be IIB what should I do? I can ask in the bankruptcy forum if need be. 

I'm going to start attacking my balances and work on getting the collections accounts taken care. I'm hoping to add 30+ points at least to my scores by the end of the year. Wish me luck!

[RSX]

Good luck

i would just payoff the ARS one.  Get it over with 

then I would payoff the $300 CL First Prem and Close it 

Try for a pFD with Convergent. Get it paid and over with 

then the usual deal of.

1. not adding new debt

2 paying off lowest amount items, then shifting to the next.  

I cannot guess your score increase number, but it will go up.  

[FireMedic1]

---

@Anonymous wrote:

Hello All, 

Back in 2016 when I was filing bankruptcy I was constantly browsing the forums to gain info to make my recovery from bankruptcy better. I started off decent but then fell into some stuff and unfortunately made more bad decisions and then just ignored it for a while. Well, I don't want to do that anymore so I'm here to get serious about rebuilding my credit. 

I just signed up for monthly myfico again and here's where I'm at:

EXP - 598 1 inq

TU - 608 3 inq

EQ - 599 4 inq

AAoA - 

AooA - 

This is where the more bad decisions comes in. So here are the accounts I have. I've been carrying some high balances so my utilization is almost always maxed. I'm just dumb about paying the balance and then using again because I haven't been budgeting appropriately. I'm stopping that and working on paying my balances down. 

Capital One Plat (Just upgraded it to QS1) - $393/$500 with another $100 pending for today. One 30 day late from 6/2019.  

First Premiere - $178/$300

2nd First Premiere (I know...) - $620/$700 One 30 day late from 2/2019. 

Merrick - $455/$550

Target RedCard - $127/$300 Two 30 day lates from 1/2019 and 2/2019. One 60 day late from 8/2017

Kohls Charge - $188/$300 One 30 day late from 7/2019

Care Credit - $0/$1000

FIFSG Auto Loan 26/56 payments made, never late. Current balance is $6,904.

Unfortunately, I have 2 collections accounts that I just learned about. Technically 3 but the third one is one that is reporting incorrectly with TU. It was IIB but was reporting as though it wasn't even though it reports to EXP correctly. I've disputed with TU.  The two I have though. 

Convergent Outsourcing - $522 This was a cox account I had at my parents house becuase they could not get it. Unfortunately, when they split and moved out they closed the account without paying and didn't tell me so I just found out about it. What's the best course of action here? It was placed for collection last year. Is it too late to call Cox and ask them to recall? Should I try for a PFD with Convergent? 

Account Resolution Services - $220  An old doctor's bill from an ER visit. It's weird though because I feel like this should have been included in my bankrupcty. I think it's from a trip to the ER when I didn't have insurance back in 2015. However I filed bankruptcy in 2016. I'm going to have to do a DV on this. If it's supposed to be IIB what should I do? I can ask in the bankruptcy forum if need be. 

I'm going to start attacking my balances and work on getting the collections accounts taken care. I'm hoping to add 30+ points at least to my scores by the end of the year. Wish me luck!

---

Well your on the right track. But no more lates. Its killing you. As i always say. Forget the calling. Go to a Cox store and ask them if you can pay it off in leui of removing the CA. Get the dates for the med collection right and send a copy of your BK DC to the CA. Even if you didnt list them. They have to abide by the BK laws and delete it. Mostly to reach your goal. If you cant pay it. Dont charge it. It isnt free money. Good Luck!

[AllZero]

Good luck on your journey!

[Anonymous]

Get your utilization under control, get current and stay current, and work on getting those collections taken care of. Can't say what your updated scores will be but if you at least follow this advice, you'll be that much better off. Good luck!

[Anonymous]

Thank you all for the advice and wishes of luck. I plan to take this seriously. I've already started tackling my utilization. I'm going to see what I can do about the collections accouts as well. 

[Anonymous]

At the start of your rebuild before you start paying off random accounts make sure you have enough cash saved up to make minimum payments on all open accounts. Don't fall into the trap of paying hundreds or thousands on accounts just to miss a payment 6 months from now because of lack of a safety net. As people have mentioned higher up getting and staying current is your top priority. Fixing derogs is 2nd to that. Good luck!

[Anonymous]

Yes, that's what I'm working on right now. Thanks for the info! I'm a little bummed as I just found out that my Target RedCard autopayments stopped and I was late for Jan. I was a couple days late for February too when I logged in and realized it. I just called and explained what happened hoping they won't report a 30 day late. They said they do those reportings to the CRAs on the 5th. I made the payment on the 4th to bring it current when I realized it hadn't come out automatically. I have yet to receive an alert of a new 30 day late for the account so maybe I saved it in time but it could be that they just haven't reported it yet. Not the kind of setback I want on this journey to get things right. I immeditely turned back on the autopay and I went and made sure to turn them on for all my cards for the minimum payment so that if I forget I at least won't get hit with a late payment. 

I had stopped using all my cards except my CAP1 a couple months back so that I'm not charging them back up. Would it make sense to get a short-term consildation loan until I get my yearly bonus in April to pay off all my balances? Then when I get my bonus I can pay off that loan. I can get one from OneMain Financial, it'll be a ridiculous APR but I'm only looking at keeping it for a couple months. 

[RSX]

I wouldn't get a loan for 2 months. You will get an HP and a new account ding

just keep paying and use your bonus when it arrives.  

I have the same scenario and am having to be patient to wait until March 15

[Anonymous]

@Anonymous wrote:

...They said they do those reportings to the CRAs on the 5th. I made the payment on the 4th to bring it current when I realized it hadn't come out automatically. I have yet to receive an alert of a new 30 day late for the account so maybe I saved it in time but it could be that they just haven't reported it yet. Not the kind of setback I want on this journey to get things right...

---

Setup phone reminders for your due dates as well. Autopay is definitely always recommended but the issue is people set it and forget it. What happens if the linked account is low of funds and payments bounce. Happens all the time. By having phone reminders a few days before payments are due you can make sure everything is always good to go whether you have autopay or not. 

Your late payment shouldn't show up on your report since you beat the 30 day mark. Late payments less than 30 days unfortunately still affect you internally when it comes to CLIs though.