Trying to rebuild, could use some input

[Anonymous]

Greetings! long story short, I was not smart about credit when I was younger, and even to an extent older. It was until about 3 years ago I got serious about my credit... I have spent a fair amount of time trying to cleanup my report by removing old entries, paying off some debt etc.... What I think is killing me right now is I have several 120+ days late on my old mortgage from before my divorce *should age off by 2021.) For the past 2 years I have made all my new obligations on time or early and right now this is a Discover, Credit One, Capital One, Amex BlueCash, Amex Everyday, and several store cards as well as a loan from Capital One for my car which has been spotless. I just can't seem to get my score to go over 630-640 .. I have 4 accounts in collections but they are also old and from what I have read even if I pay them they will continue to hurt me. Any suggestions?

[Anonymous]

There is no elixir. Credit repair is a combination of time and mindful effort. Perhaps some luck as well.

As to your 4 collection accounts: have you had the debts verified? Have you sent PFD offers? If yes, have you considered changing those offers? Have you considered PIF and then sending GW letters? Are you prepared to wait it out for them to fall off and live with the damage to your scores?

[Anonymous]

I did have them verified. Can't swing a PIF right this second... if i could put on a card I would do it but the cards I mentioned above have pretty low limits.

I have been basically living on the cards; gas, food, bills, etc .. then paying them down each month to 10-30% or so. I get denied for CLI's alot which is frustrating. As far as the morgage goes I am sending a GW letter to them since that account is closed.

[Anonymous]

Good luck on the GW letter with the mortgage.

Is there any reason you're only paying down to 10-30% for the month instead of PIF'ing?

[Anonymous]

yea... between my wife and i we did alot of stuff we needed to get done on the cards (over the last couple of years) and only in the last year or so dave we discovered the 30% rule; so I am trying to rebalance all of our accounts down to 30% or less then pay them off... from what I have seen 5 accounts at 30% is better than 3 accounts at 0 and 2 at 60%... so on that basis I am diverting funds whenever i can to get the other cards balances down to taht 30% which means I do carry a small balance...

[Anonymous]

Actually the best place for this thread is not on this discussion board, but rather the room specifcally for people doing Rebuilding.  Would you like me ask a moderator move it there?

[Anonymous]

Yes please

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@Anonymous wrote:

Actually the best place for this thread is not on this discussion board, but rather the room specifcally for people doing Rebuilding.  Would you like me ask a moderator move it there?

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