LemonLimez' road to credit repair...next stop home ownership?

[lemonlimez]

February 16. 2013 .. a date that will live in infamy - I was declined after applying for an Apple financing (Barclays) my heart sank, what an awful feeling. I felt so small, rejected I can't even describe it.

I was also denied a credit limit increase from my walmart store card, that prompted me to google "walmart credit limit increase" which on of the top 5 searches routed me to creditboards.com and to another fico forum, I found CB to be indispensable!

The knowledge I acquired about credit in a month here - is more than I ever learned on my know in my entire adult life! In my still ongoing journey I owe you all my Fico Health. Thank You!

So, that day I read CB section for newbies many times over http://creditboards.com/forums/index.php?showtopic=296328 and some of it stuck and other bits did not - it did let me dip my toes into the water from there I just read every post from that day going back about 5 pages..I honestly read and read for almost a month before I did much of anything.

I joined a credit monitoring agency ( My privacy matters ) joint membership with me and the hubs. $17.95

With MPM my Fako scores started ….on 2/15/2013 TransUnion = 566 Experian=512
Equifax=548

A denial letter from Equifax said my credit was 515!

My husbands were even worse. ( that’s another post )


I pulled my complete credit reports from annualcreditreport.com – from all 3 credit bureaus. Equifax/Transunion/Experian.

I had 8 collections to begin with a few that popped up new along the way

1. Jefferson Capital Systems
2. IC Systems Collections
3. Covergent Outsourcing
4. Phoenix Recovery Group
5. Financial Control Services (Medical)
6. Financial Control Services (Medical)
7. Anderson Financial (Att bill)
8. Synerprise Consulting services
9. Network Collection ( Gym Membership)
10. NCO Financial (reporting twice on Att bill)
    
    It wasn't all THAT bad..

1. Capital One Loan (Horrid APR 28%) 5 yrs -never late.
2. BOA tradeline for a credit card or loan I don’t recall $1,800 limit closed perfect history.
3. Barclays card from 2006 as AU perfect history
4. Capital One card since 2009 – 1 30 day late just in January 2013! Still kills me
5. Victoria Secret store card – low limit $150 I forgot I had but open and in good standing.
6. JCP Store card – Low CL - carrying high balance good history no lates.
7. Sams Club store card – low CL $280 knocked down from $500 carrying high balance.
8. Walmart Store card – Low CL $500 carrying high balance.
9. Wells fargo dealerservices – car note, high APR 11% always on time

I booked marked CB site and got my supplies together:

- Binder
-Stamps ( Went to through 3 books of stamps) and still going.
-Dividers
-Printer/copier
-Envelopes ( the self seal kind - splurge on this)
- handful of CMRRR slips from the local post office (picked up 15, have 2 left)


Hard copy of all my reports ( 2 copies of each , one to keep stored away the
other to triage)



And off I went…

• Opted out
• Send out letters to CRAs to delete invalid variations of my Names, Addresses,phone numbers

Wrote DV letters, waited for response.. sent out GWs, … waited.. OMG the waiting! It’s the hardest part.

After about 3 months my results

1. .Jefferson Capital Systems Deleted with DV
2. Phoenix Recovery Group No responses to DV, 3x now no signed CMRRR slip returned!
3. IC Systems Collections Deleted with DV
4. Covergent Outsourcing Deleted with DV, they send me back validation but still deleted anyway
5. Financial Control Services (Medical) I Sent nonmedical DV - screwed they validated have to wait 60 days now
6. Financial Control Services (Medical)I Sent nonmedical DV - screwed they validated have to wait 60 days now
7. Anderson Financial (Att bill) Deleted with DV
8. Synerprise Consulting services Deleted with DV
9. Network Collection ( Gym Membership) Deleted with DV
10. NCO Financial (reporting twice on Att Bill) Deleted Dispute to CRAs after no response to DV

I had to pay $0 to get these removed just Time, Stamps, CMRRR fees.

 

Things I wish I would have done differently:
1. I should have waited until I fully understood WHYCHATS method for Medical Collections.. I set myself back about 60 days because I send out regular DV to my CA for medicalcollections. If you have a lot of medical collections STOP and look for whychat's info seek out his help you will save yourself from the same mistakes I made.

2. Also when you see just a jump on your store don’t start applying for credit! I ..screwed my AAOA! Boo

My current status:

1. I was able to add some low ball cards to my profile. Merrick Bank $750, CLI from VS 150$ >350$, Amazon Store card $750
2.I learned that I should not let my card reports over 5% utilization on them. I paid them down fast as I could and only 1 card carrying a balance of $250 is left.
3. Capital One 30 day late is recent and they won't remove after talking to EO trying to GW 3x now.

 

My goals:

1.To have those fancy high limit cards I see on all these cool people’s signature!

2. Ultimate Dream: HOME OWNERSHIP

 

My plan of attack to achieve my goals:

1.To garden what I have now, tend to my current cards ask for CLI, pay in full before statement dates

2. Graduate to those nice a$$ cards a lot of the gurus on here that I look up to have.
3. By end of 2013 or start of 2014 see where I stand to apply for a mortgage.


My Fico score from Wally world this month hit 700! I know score isn't everything but man - that's a huge triumph for me! Like another member of CB said ... that day I sat back in my chair in disbelief... thinking " This Sh@#$ Really Works!!!! "

 

I am very humbled by the people on this board, thank you for your help in repairing my life. Credit just effects the quality of life people have, I am more confident in my self than ever before because: I GOT THIS!

 

I am sorry for the lengthy post - and I am sure misspelling abound,

I hope this helps some one just starting off, because I felt lost until I found you all.

[fabdad]

Nice work, thanks for posting!

[cv91915]

That is an amazing journey, with remarkable results. Congratulations, and keep going. It gets even easier and more rewarding. Awesome job!

[lemonlimez]

That is an amazing journey, with remarkable results. Congratulations, and keep going. It gets even easier and more rewarding. Awesome job!

Thank you, It was seriously nerve-wrecking writing this! I sat there and debated whether or not it was good enough to share with my mouse hovering over the 'POST" button.

[cv91915]

 

That is an amazing journey, with remarkable results. Congratulations, and keep going. It gets even easier and more rewarding. Awesome job!

Thank you, It was seriously nerve-wrecking writing this! I sat there and debated whether or not it was good enough to share with my mouse hovering over the 'POST" button.

For real? That's a great story with fantastic results; you should be really proud of what you've accomplished.

[futurehomeowner?]

awesome..... home ownership sounds like it is obtainable soon.

[chugs102]

Congrats!

 

Thanks for the detailed write-up. Many people will someday find it to be very helpful.

[Rebuilding2010]

Amazeballs. I love seeing those folders and cmrrrrrrrrrs

[eatcookies]

Congrats!! It feels great when good things start to happen, doesn't it? Good luck on your other goals!!

[KayTowne]

Great job!

[mariuszh]

Fantastic post, love the detail

[UGAFan]

Thank you for sharing your information (I'm glad you posted!) and congratulations on the 700!

[lemonlimez]

So I meant February 15. 2013 ..as the date I started this.. typo.

Today... another date that will going down in history.. May 20, 2013....Trying to Garden..s

 

I HATE to talk to people on the phone when I have to ask them for something.. CC companies especially! I researched UW information for the cards I already have.. with a knot in my stomach I picked up the phone and made phone calls today.

 

Walmart Store card CL $500 > $1,000.... I called 1-877-379-8173 Walmart UW #... I so faked sounding confident and sure in myself.. I asked for a $3,000 CLI ... they asked verifying info.. my ssn#, DOB, income - came back countered added $500 to my current line. I will take it! Thank you...

 

JCP Store card CL $600 > $1,200.... I called 1-866-740-7929 UW # JCP... I wasn't so much faking sounding confident now- I actually was sure of myself.. I asked for a $3,000 CLI ... they asked verifying info.. my ssn#, DOB, income - came back countered added $600 more to my current credit line. SWEET! This is now my highest credit line with a whooping $1,200... don't laugh... that's major for me

 

Sams Club Store card CL $280 > $1,000....This line started at $500 initially, I maxed it out and only paid the minium for a few months they dropped my CL to $280 and it's been that way for over a year...I called 1-877-379-8173 Walmart/Sams UW #...by this 3rd call I built up my ego... I asked for a $3,000 CL line.. I don't know where i pulled out asking for 3K from but it sounded good! Shooting for the stars- HA. ... they asked verifying info.. my ssn#, DOB, income - came back countered with bumping me up to $1,000.. holy moly!

 

I broke into the thousand mark on my credit lines! 4 digit credit lines... unheard of for me!

So to break it down... I spend about exactly 29 minutes on the phone this morning.. and ended up with $1,820 more in available credit.

 

* I am a horrid speller excuse any spelling mistakes, please.

[lemonlimez]

I can't find an UW $ for house hold bank / HSBC if anyone has it handy..I'd be grateful!

[lemonlimez]

Congrats!! It feels great when good things start to happen, doesn't it? Good luck on your other goals!!

It feels incredible!

[essexjet]

What a great topic!! Thank you for sharing and it gives hope and confidence to us who is still fighting this uphill battle

[lemonlimez]

So.....

I tried to increase my limit with amazon $750 just got this card a month ago.. my 1st FAIL! oh well. Denied.

I called HSCB # on back of my card and 2nd FAIL! no CLI.. stays at $900 after speaking with supervisor (geez , look at me asking for a supervisor?! ) she explained that HSBC is not issuing any CLI business decision.Not sure how accurate this is - but may have something to do with HSBC and Capital 1 merging??

 

I will wait 4 months and ask for CLI again.

[Art_Vandelay]

What a wonderful story. so gald you pulled it together. You're an inspiration to all of us. Congrats, you'll be a home ownder in no time flat.

[HERE WE GO !!!]

Congrats on your progress !!! I hope to have the success like yours in about 6 months.

 

You are so correct, waiting is the HARDEST part.

 

Good luck to you and thank you for sharing your progress.

[eatcookies]

Good job on those CLIs!

[droman04]

For your Capital One account that has the 1 30 day late, have you tried sending a goodwill letter to have that removed?

[prosumer]

Excellent post and progress!

[lemonlimez]

For your Capital One account that has the 1 30 day late, have you tried sending a goodwill letter to have that removed?

I did i've sent a good will letter every month to them and even talk to the EO team.. nothing

[lemonlimez]

5/21/2013 - Applied for a credit card at the local credit union for me and my husband and was approved for $500. I was told to wait 6 months and then could request a CLI

5/25/2013 - Applied for LOWES store card and was approved for $500 I called the UW @ 800-528-2334 asked for $5K ( as IF!) APPROVED! for $5K

>> Lowes my highest available limit card to date<<

 

Now seriously going to G-A-R-D-E-N. No more apps.

It's been a good year!

Edited May 25, 2013 by lemonlimez

[lemonlimez]

Goal #1 on my signature (Increase available credit to 10K) - ACCOMPLISHED!
5/25/2013 - Total available credit as of today : $12,600

 

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Merrick Bank's TU08 score: 691 (5/17/13) Walmart Fico: 700 (5/13/13)
Fakos MPM: TU 598 630 EX 512 632 EQ 582 621 Rebuilding since Feb2013
GOOD: SamsClub $1K|Cap1$300|JCP $1.2K|VS$350|Amazon$700|Merrick$700|Nordstrom$750|WalMart$1K|HSBC$900| Lowes $5K + Auto1 WF 11%APR 10KBal |Auto2Cap1 PAID
BAD: Collections Ex8 TU6 EQ6 >4 Collections Left!
Phoenix Recovery $350 | Jefferson Capital Systems |AFNI |Network Collection | $190 Convergent| IC SYSTEMS Medical Collections: Financial Control Services $313('11) & $67 ('08)
GOALS:
1.Increase total available CL to 10K (Feels unrealistic at this point!) <<<<<!!!!!
2. Refinance car with a better APR 3. Obtain a mortgage by end of 2013

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