Where to Go?

[Anonymous]

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@kilroy8 wrote:

Collection and Repo both major derogs. 1 will hurt almost as bad as 10 of those, for the full seven years. Sometimes if you dispute paid off accounts, they seem to go away.

Stand pat with cards and accounts (nothing new) and do AZEO is about all you can do to maximize scores.

Look into goodwill letters.

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I'm definitely going to dispute the repossession seeing as how I have the letter stating it was paid off and even still have the vehicle. It's scheduled to fall off next year. I'll go ahead and pay for the collection although I was going to send a certified letter asking for a pay for delete. 

I won't open any new cards and do the AZEO method here on out.

I'll also send a goodwill letter to capital one about my secured card showing late back in 2014.

Should I start applying again after I hit 700? 690? At what point do you recommend someone to start applying?

[Remedios]

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@Anonymous wrote:

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@Remedios wrote:

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@Anonymous wrote:

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@Remedios wrote:

I'd pay that collection so it stops updating. I know next to nothing about repos. 

If you've missed a few payments, you want to put as much time as possible between lates and new credit. Sadly, there is no such a thing as being 99% on time. It's either a 100% or derogatory. Depending on severity of your lates, it may be a while till you see noticeable improvement. 

Not trying to be hard on you, but I think you need more time establishing payment history. I doubt any app at this point will really have a good outcome for you other than more predatory lenders. 

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Ok, last lates were in 2014 so I guess I'll give it a few more years. I'll write the credit card companies and ask if they'll change those previous lates since it's been 5 years. I'll also go ahead and pay the collection, I was just hoping to get something out of it rather than just paying them for no gain. I appreciate the input.

Does this mean that I should not reach out to Capital One to see if they will change my secured account to an unsecured account? Especially given that the account has a yearly fee.

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2014 is not that bad, I thought lates  were more recent.

Cap one is currently not unsecuring their cards. 

On collection, PFD would have been the prize, but when that's a no go, paying it stops updates and lets score start recovering. 

Wait to see what happens with your scores when new lower utilization is reflected on your CR and go from there. 

Maybe if you qualify for a better card at that time, you can just close the secured card with AF. 

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Great. I'll go ahead and pay the collection.  I always read that if they won't do a pay for delete then to not pay it as it resets the 7 year clock.

As for closing the secured card with AF. What is AF?

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AF is annual fee. You said yours had it. 

Paying collection does not reset anything.  Removal time from CR stays the same.  You're done with it now. Congratulations. 

Here's a link to a thread that lists common abbreviations used on myFICO: http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/td-p/88458

[Remedios]

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@Anonymous wrote:

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@kilroy8 wrote:

Collection and Repo both major derogs. 1 will hurt almost as bad as 10 of those, for the full seven years. Sometimes if you dispute paid off accounts, they seem to go away.

Stand pat with cards and accounts (nothing new) and do AZEO is about all you can do to maximize scores.

Look into goodwill letters.

---

I'm definitely going to dispute the repossession seeing as how I have the letter stating it was paid off and even still have the vehicle. It's scheduled to fall off next year. I'll go ahead and pay for the collection although I was going to send a certified letter asking for a pay for delete. 

I won't open any new cards and do the AZEO method here on out.

I'll also send a goodwill letter to capital one about my secured card showing late back in 2014.

Should I start applying again after I hit 700? 690? At what point do you recommend someone to start applying?

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Score is just one small part of it, really. It's the derogs that may keep you from getting approved. 

Your lates are old(ish) at this point. They are affecting your score, but if you can get rid of that repo (if inaccurate), you'd be in a much better place. 

[Anonymous]

All great advice, I would add that you may want to contact Sprint and see if they will recall the debt if you make the payment with them. Good luck.

[Anonymous]

I tried reaching out to Sprint and contacting their "Finance" department, but the number linked in another thread no longer works. Also, I called customer service to see if they could forward me and they gave me a number to call...Seems like it was someone's personal number. If someone can help me out with Sprint, that would be great.

[Anonymous]

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@Remedios wrote:

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@Anonymous wrote:

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@kilroy8 wrote:

Collection and Repo both major derogs. 1 will hurt almost as bad as 10 of those, for the full seven years. Sometimes if you dispute paid off accounts, they seem to go away.

Stand pat with cards and accounts (nothing new) and do AZEO is about all you can do to maximize scores.

Look into goodwill letters.

---

I'm definitely going to dispute the repossession seeing as how I have the letter stating it was paid off and even still have the vehicle. It's scheduled to fall off next year. I'll go ahead and pay for the collection although I was going to send a certified letter asking for a pay for delete. 

I won't open any new cards and do the AZEO method here on out.

I'll also send a goodwill letter to capital one about my secured card showing late back in 2014.

Should I start applying again after I hit 700? 690? At what point do you recommend someone to start applying?

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Score is just one small part of it, really. It's the derogs that may keep you from getting approved. 

Your lates are old(ish) at this point. They are affecting your score, but if you can get rid of that repo (if inaccurate), you'd be in a much better place. 

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So while my FreeCreditReport shows the repo, my actually FICO reports don't show it. The only negative/derogatories it shows is the collection from Sprint. Still trying to figure out how I can get in contact with the right person at Sprint to try and get it removed. 

***Edit on first page.

[joltdude]

Who currently has the Sprint Debt.. Kept reading the thread and I dont think it was mentioned...

And as someone said. if its not sprint, they might be willing to recall the debt for PIF....

-J

[Anonymous]

Source receivables

[joltdude]

This is slightly dated but relevant to your situation

https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Sprint-Collections-SOURCE-RECEIVABLES-MANAGE...

Heres what *I'D* do... 

Offer to pay Sprint in Full.. Sprint *must* recall the debt if they accept PIF/PFD...  Source no longer has the right to collect on it hence must delete.. You might have to fight with the CRAs if they are slow... or its not recalled.. 

-J

[simplegirl]

If your going to pay in full send a pay for delete to source Receivables. I just dealt with them personally and paid in full sent them a letter via us mail and they accepted my letter and replied back telling me if I pay by such and such date they will delete and they have deleted from all my reports. I paid them April 11th and they dropped off late April.