Newbie Searching For Seasoned Opinions

[Frustrated13]

Hello all! I have been lurking and reading, lurking and reading and reading and reading I understand the basic concepts of what I’m reading, but I get so confused when trying to decide what to do in my own situation. I would appreciate any advice those of you who have been there done that can provide.

 

I will let you know first that I only have in hand my Experian and TransUnion reports. I had to mail a request to Equifax because it didn’t validate online, and it has not returned. At this time, I am just trying to develop my plan of attack and will wait to do anything until I have all 3 reports in hand.

 

Anyway, I ordered all of my reports and “opted out.” I have not yet challenged my names/addresses, as the only good items I have on my reports are tied to my old name/address, and I don’t want to shoot myself in the foot by risking losing the only positives I have. I have also “triaged” my reports, and now I’m confused on which direction I should take.

 

A brief history – I am in SC with SOL on revolving debt of 3 years. I began a nasty divorce battle in 2009, and I have not paid on any accounts since 2009. I have also not attempted to apply for any new credit since 2009. I guess I disappeared for a while as when I received my reports they still list me with my divorced name and not my new married name. Only 1 of them even lists my current address, where I have been for 3 years now. Technically all of my items should be past SOL at this time.

I feel it is also important for me to state my goal in my credit repair journey, because I do believe that is imperative as to what plan of attack I take. My goal at this time is to increase my credit worthiness so we do not have to keep riding my husband’s excellent credit. We are looking to expand our business in the next year or so and will need to get a pretty hefty loan to do so.

 

Most of the items on my reports are scheduled to be removed in 2015 or 2016. Some of them are showing they are to be coming off in the next few months. There is one item that is showing a removal date of 2018. It is for a CA for a utility service at an address I haven’t lived at since April 2009. I’m not sure how they are getting a date of delinquency in 2011 unless the account was “re-aged” by the CA. This is one issue I know needs to be reconciled, even if the dates are just corrected.

 

The largest amount of any item is $988, and that amount isn’t even for the original debt. That is where LVNV has added money every month since they began reporting an original debt of $577.

There are several items that are for different CAs but the same OC line.

 

The worst item is the Foreclosure on my home that is scheduled to fall off August 2015. (I'm not expecting to be able to do anything with this, but advice is still welcomed )

At this point, is it better for me to just open a secured card and began establishing a recent payment history and maybe be added as an AU to my husband’s accounts at Citi, Chase and USAA (keeping in mind the ratios which are good) and let sleeping dogs lie? OR do I ask for validations on all the CAs and end up updating all the reporting dates possibly worsening the effect the CAs are actually having on me if they are not deleted?

 

Also, if I begin to take the Validation route, what is the likelihood I would be sued over any of these accounts being the small amounts they are? I realize that they are all legally beyond the SOL in my state, but I certainly don’t want to have to fight that battle if I don’t have to.

 

I realize that I might get 100 different opinions as to what is the best route to take… I will value and respect each and every one of those
opinions! The guidance, advice and resources that the members of this board provide is priceless.

 

Looking forward to your responses!

Kat

[phoenixisrising]

My opinions not seasoned so I won't offer it . Good luck

[Frustrated13]

Thanks! I don't mind having unseasoned advice at all :-) everytime I read a new topic I find myself more and more uncertain on which direction to turn. Just thought having some suggestions from those who have gone through it might help me feel more confident in the choices I make.

[futurehomeowner?]

open a secured card or 3, get added as AU asap, send DVs to all collection agency's CMRR. You mentioned they should all be out of SOL so nobody should try to sue and if they do you can either fight it or just offer to pay it since you said they are all small amounts.

[Frustrated13]

Thanks futurehomeowner!

 

My debate with myself comes from reading info on how older CAs are not taken into consideration as much as newer ones. I am afraid an updated activity date of anykind will make the account more recent in the scoring process or credit decision making process.

 

Is there a thread somewhere, that I haven't been able to find through search functions, that tracks best tactics for which CAs? I have tried searching the individual names of CAs but there are so many posts that come back.