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Wanted mentors for Credit rebuild project

Established Member

Re: Wanted mentors for Credit rebuild project

i just recieved an email from Verizon saying they will settle my account for 50% so pay 543.56. it also says that they will then report it as Paid for less than full balance.What should I do? Someone told me this is worse than the way it sits now? 

Message 11 of 28
Established Member

Re: Wanted mentors for Credit rebuild project

citi card payed off today.working on paying off the cap one card now.

Message 12 of 28
Frequent Contributor

Re: Wanted mentors for Credit rebuild project

You can take the Verizon settlement just to clear the balance from your report but it may not increase your scores since it's not a revolving line of credit.  Verizon will not delete the account from your reports.  


Once you pay the past due balances on the revolving lines especially the first premier cards (since they will reopen the cards) your score will increase.


Congrats on your progress so far.  I know it's not an easy journey 

Start of rebuild July 2021

October 2021
Message 13 of 28
Established Contributor

Re: Wanted mentors for Credit rebuild project

Citi (cl) 200/ (bal)307 marked as closed over 120 day late ,paying the 307 this week as suggested by yall Total card (cl) 300/ (bal) 0 charged off with resurgent CA

Total card (cl) 300/ (bal)0 charged off with LTD CA

Reflex card (cl) 1000/ (bal) 0 charged off with CKS CA

First premier (cl) 800/ (bal) 1297 closed 1 60 day late paying 137$ monthly

First premier (cl) 900/ (bal) 1619 closed all 'ok's" on payment history paying 120$ month

Cap one (cl) 500/ (bal) 345 closed 120 day late

Verizon (bal) 1087 marked "c" for collections


Oh, bother. I should have seen this earlier so that at least you made less errors.

First I recommend figuring out how much funds you have avalable. There is no point in trying to even talk with them if your avalable funds are 0. They can sue you then and would be attempting to get blood from a stone. Granted they will try to garnish wages with a judgment but that is worst case. For now I recommend crisis managment.


First off Verizon is the only lender who will generally avoid the courts. They also selected a PFD CA and have offered the fairly standard 50% off deal. You can pay 100% and get the record removed, pay 50% and have a ok remark with a cash savings, or make your own deal. I would push them toward 40% or so but that is just me. It depends on how willing you are to negotiate. End of the day Verizon can just refuse to serve you until the end of time.


Capital One is another intresting lender as they are known to sue people while also issuing new cards at the same time. Regardless I recommend you not allow this lenders account to fall through as they will send to collections soon. Even better is if you call in and set up a payment plan. This lender would definitly entertain it just to save on collection costs and it goes double since the account is closed.


First Premier is an interesting quandry. They interconnected the accounts so you would pay them off. Getting on a payment plan here would do you good as well. I also recommend you check the account terms to see if there are any fees that are non-standard. As a junk lender they should be removed from your wallet as soon as practical.


Total clearly wanted to hassle you with two collection agencies. I belive LTD did do PFD and we know Resurgent does so if you want that to stay off your reports netgotiating a PFD would be your best bet.


Reflex is one I am not famiar with and their CKS CA is not helping. I do know that they are a junk lender which means they will negotiate just to close out the account but what is offered will depend on negotiation.


Lastly about Citi the payoff was a mistake at this point. Citi is the only lender that does not sell their debt to third party CA's. They collect on it themselves and will with guarentee sue you. I can guarentee Citi Bank, NA vs hooper1 would have been roughly your case if it got to that. Usually it is 180 days and they send it to their collections department. 30 days in collections and it gets sent to legal. Durring that time you could have negotiated to pay part of the amount as settlement or even a payment plan. Remember Citi wants their money the most and even a payment plan at $25 per month is considered a win for them. Also they say they can hand it over to a CA but they really will not bother.


Overall you need to stop the bleeding and freefall. It will take some negotiating skills but it can be done. Once these lenders calm down their reporting there are plenty of new companies I can recommend to begin going up.

TU:758 06/19/20 Bank of America--EX: 776 06/10/20 Experian--EQ:810 09/25/18 Citi--Gardening since 01/11/21
Bank of America (Better Balance Rewards MC, Cash Rewards WMC, Cash Rewards VSC), Barclay AARP MC, Blispay V, Capital One (Quicksilver VSC, Walmart WMC), Chase(Amazon Prime VSC, Freedom VSC, Freedom Flex WEMC, Freedom Unlimited VC), Citi Dividend MC, Citizens GreenSense MC, Discover It C, FedEx Employee Credit Association V, FNBO Ducks Unlimited VS, HSBC Cash Rewards WMC, PenFed (Platinum Rewards VSC, Pathfinder Rewards VSC), Synchrony Bank PayPal 2% Cashback MC, TD Bank Redcard S, UMB Bank Simply Rewards VC[Milford Federal], US Bank (Altitude Go VSC, Cash+ VSC)
Wishlist: AOD Signature, Bellco Colorado Rewards, Citi Custom Cash, EBates, Nusenda Platinum Cash Rewards, Santander Ultimate Cash Back, Security Service Power Travel Rewards, Vantage West Connect Rewards
Message 14 of 28
Established Member

Re: Wanted mentors for Credit rebuild project

thank you so much! Im learning alot

Message 15 of 28
Established Member

Re: Wanted mentors for Credit rebuild project

capitol one is asking for 175 on the 16th of this month. so I will be paying that today.

Message 16 of 28
Established Member

Re: Wanted mentors for Credit rebuild project

spoke with a rep a verizon . He said he was only allowed to accept full or 50% payment.  He said he wasnt sure if i paid in full if it would be removed. So im notsure what i should do.

Message 17 of 28
Established Member

Re: Wanted mentors for Credit rebuild project

just recieved a collection letter from Tate and Kirlin for the 1 access card. It says original creditor Bank of Missouri and then it says current creditor is LVNV funding.So i guess my question is who am I dealing with and what is the best chance to clear this off my report if any?

Message 18 of 28
Valued Contributor

Re: Wanted mentors for Credit rebuild project

i am pretty sure that is good news, since i am sure that i have read that LVNV will do a PFD for you


run a search on the forums - i think you will find that to be true


Dec 16/2019. EX. 721. EQ. 723. TU 746
Dec 29/2020 EX. 729 EQ. 723 TU 746
Sept 9/2021 EX. 734 EQ. 737 TU 746
Inq. EX 5 EQ 2 TU 5 - - CC 4x24, 3x12, 0x6
Amex BCP $32k - Apple GS $19k - BMW/Elan $9k - Cap1 QS $16.7k - Chase Amazon $13.6k - Chase Bonvoy Boundless $10k - Chase United Club Infinite $26k - Citi DC $14.5k - CreditUnion1 $9k - DiscoverIT $23k - HSBC Gold - $13k - Penfed Gold - $12.5k - USBank Cash+ -$24k - HSBC LOC - $13.5k - PenFed LOC - $20k
Message 19 of 28
Established Member

Re: Wanted mentors for Credit rebuild project

ok thanks will do

Message 20 of 28
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