First, I would pull each CR directly from each CRA. You can get these reports for free from annualcreditreport.com one time each year or for free from the relating CRA if you were denied credit within the past 60 days. These reports are necessary to determine who your CAs are. MyFICO will often mask who the CA is, especially if a medical CA.
Next, I would read and read and read. Credit Scoring 101 is a great place to start, esp. for abbreviations. Took me a while to figure out. Then I would ask specific questions and develop a good game plan.
Looks like the first 4 accounts are reporting OK. There's not too much you can do there. The 5th is reporting OK too. Check around for info on the Sallie Mae accounts. SM was reporting incorrectly. This may be OK, but others could chime in.
Next Allegiance looks to be a CO. If reporting correctly, I would offer not a PFD, but rather a modified GW to have bad debt/collection removed in exchange for paid as agreed if you were to pay the balance in full. I don't know if this is a CC or not, but if a CC, I'd fight to keep it on. You have no other revolving credit and that is hurting you now.
Next, go after the collections. Send a DV to every single one. If validated to your liking, then offer a PFD. If any of these debts were associated with the BK, you could dispute based on that.
Word of CAUTION: If you communicate in any way to an old OC or CA, expect a flurry of collection activity. Sly asked if you were within SOL. If inside, you have an elevated risk of being sued. I checked WY and found that it is 8 years for oral and 10 years for written. I would save the $$$ first, then DV, then offer a PFD. If they were to ever force your hand and sue, at least you could fire off a payment in full without worrying about a judgment on your CR.
I recommend subscribing to a monitoring service like TrueCredit to track changes. I would also order your CR direct from each CRA every other 2-3 months just to have a hard copy. CAs have been known to improperly update reports. Keep your nose clean from this point forward. Save. Don't make any payments without following the advice on these forums. I'd bet with hard work, you'll see 50-100 point gain within the next 6 months. Also, once scores hit in the 600s, go for 2-3 CCs as they will help your score. You have no recent credit history. Don't go into debt with them, buy a cup of coffee every 2-3 months or so and PIF.
Message Edited by llecs on
05-20-2008 04:05 PM