adventurer07

Where I Started: A declined mortgage application in 2007 where the mortgage lender told me "Everything's great - except your credit". Since I hadn't used or even tried to get any credit in 5 years, this raised a big question for me. I found out I had more than 20 accounts per report (a total of over 60 items!) that weren't even mine, as well as numerous reporting errors on the accounts that were mine. Another person's social security number, which was one middle digit different from mine was listed on my report. How I Handled it: I began making inquiries via letter and phone (pre-cb) in the summer of 2007. I learned that some of them were medical debts that should have been covered by insurance and was able to have several accounts removed. However I found the process tedious and discouraging. I felt like I was swimming in a sea in the middle of the night with no idea how to find the shore. Then, during a search for credit reporting (I had been using freecreditreport.com and found myself disatisfied), I stumbled on Creditboards. If I only knew then how much it would change my life! The first six months on the site I was completely overwhelmed. I spent every spare moment reading and attempting to pattern my letters after the samples I found on the site. I tried to follow the information and researched a great deal. I was successful in removing 10 accounts that first six months due to accounts being past the reporting period, and other minor errors. In 2008 after almost a year of painstaking research and waffling, I filed for bankruptcy to resolve three outstanding judgements that had been awarded in 1999 - 2001 totalling $12,000. I couldn't apply for my securities license due to the judgements as they were over $8,000. The bankruptcy included about 20K in medical debt as well. It was discharged in November 2008. Around that time I began to relax my credit repair to deal with school and other personal issues. In August 2009, my car's power steering died. I visited a local car dealership and applied for a loan on a 2009 Chrysler Sebring. Thirty days later the dealership notified me that the financing had fallen through (likely because they were trying to sell me a used car but presented it as new). I eventually financed a 2002 Oldsmobile Aurora at an atrocious 20% interest rate and put $3,500 down. The vehicle was a disaster but I stuck with it. At this point I followed the advice of CB and began repairing once again by procuring some new trade lines. Recently the car needed repairs totaling $700. I'd already put $900 in repairs into it in 10 months and just bought a new tire that cost $200. I was too upside down on the car to refinance it as the value on it had decreased dramatically due to Oldsmobile no longer producing vehicles. So in frustration I went online to Capital One and applied for a loan "just to see what would happen". I figured if I was declined, at least then I'd know I was stuck with the car. I was instantly approved. You cannot imagine my astonishment! It was a 9.6% rate for 60 months for up to $14,400. I was overjoyed! The next day I visited a Hyundai dealership and began the process of determining what was feasible. Where I am Now: I am the proud new owner of a 2010 Hyundai Elantra, financed at 5.9% by Hyundai! Not only did I get a great rate but my loan payoff was reduced $700 for the prior car and I received a $2,500 incentive rebate. The dealership treated me like royalty and the sales manager came out to shake my hand and say "Great job on your credit! Your Equifax FICO is 708. Congratulations!" I believe in hard work and know that my hard work would have gotten me far but I could NOT have come THIS far without Creditboards. The advice, encouragement and support has been amazing these last three years and I am so glad I found this site. So thank you to everyone who has helped me, answering questions and offering support. You guys are the best and you changed my life!

APPROVING BANK: Capital One BUREAU PULLED: All CREDIT SCORE 650 - 708 CUSTOMER STATE OF RESIDENCE: TX NEW/USED New YEAR OF VEHICLE: 2010 Hyundai Elantra MILEAGE 27 RETAIL/LEASE Retail AMOUNT OF LOAN $14, 400 ADVANCE PERCENTAGE TERM CONTRACTED 60 months APR/LEASE RATE 9.6% MONTHLY PAYMENT 303.13 MISCELLANEOUS COMMENTARY: I declined this and applied through dealership. See below APPROVING BANK: Hyundai Finance Corp BUREAU PULLED: All CREDIT SCORE 650 - 708 CUSTOMER STATE OF RESIDENCE TX NEW/USED: NEW YEAR OF VEHICLE 2010 Hyundai Elantra MILEAGE 27 RETAIL/LEASE Retail AMOUNT OF LOAN 20, 434 ADVANCE PERCENTAGE TERM CONTRACTED 72 mths APR/LEASE RATE 5.9% MONTHLY PAYMENT $299 + $37/mth for Gap+MPP+road hazard ins for 6 yrs/75K miles. Only have to put gas in it for term of loan. MISCELLANEOUS COMMENTARY: This is post-bk, bk discharged Nov 2008. $500 down. Includes $1,700 negative equity from prior vehicle.

Thanks - good info to have. I did find out that my Capital One card statement closes on the 18th and reports on the 21st of each month so I guess there's a 3 day processing period (so I'm told anyway). We'll see if that holds to be true.

Ok, so I'm in a bit of a new phase in my credit life now. I've spent three years living, eating, breathing credit repair. I've read so many posts about credit and I know a lot about finance because I'm a financial professional. However. here's my dumb questions. What is the best way to get the most score for your actions? I know PIF every month etc but I'm running into an issue (and maybe it's just with FP) where my cc has this nasty habit of posting the amount I put on my card even though I PIF every month. Here's my example: During the month of April I put $181 on my FP card (limit of $200) On May 27 I PIF over the phone (and paid $9 for the pleasure!) and CLOSED the account On May 29 the account was reported to all three bureaus as open with a $181 balance (did not reflect my payment at all) Due date: May 28 So what's up with that? Am I waiting too long to pay? It seems like they did that to me EVERY SINGLE month, no matter when I paid the bill. Is that just standard operating procedure for FP? What's the long term FICO effects if each month it's reported with high utilization like that even though I'm PIF? Is it even affecting my score at all? Is it better to only use 10% of a limit regardless if you PIF every month to avoid it reporting that way? Could FP's reporting cycle be before my payment due date and therefore I was getting caught in a cycle? Because honestly at this point I'm confused and not sure what I'm doing wrong. I want to make sure it's not hurting me long term and if it is, I want to change it. Right now my Capital One card is almost maxed at $482 (paid for a class and wanted the 1% cash back, should be getting financial aid next week) but I'll be paying it online on or before 6/15. It has a due date of 6/18. Any advice would be greatly appreciated.

I would definitely seek legal counsel at this point - even if it's just a free consultation. You can try a prepaid legal program as well - they're cheap (although you may get what you pay for - I've had good experiences but YMMV in this situation). Also do what Clutchcargo and Centex said, good info there. Good luck OP - sounds like a tough situation and I hope it works out favorably for you.

Capital 1 No Hassle Rewards Platinum $500 - due to my car lender mis-reporting and it taking almost 2 months to fix I've had to stop all apps (my TU report went from 650 to 590 again ) but it seems to be getting somewhat repaired - the balances are at least correct now, it's just missing the 9 month payment history which is what I need to refinance. Once it's fixed I'll start applying again. Capital 1 has yet to report and it's been 30 days so they'll be getting a call next week as well. Otherwise I would have had more already.

I think this might be changing - someone correct me if I'm wrong. I got a notice in the mail this week that if I paid my card on time for 3 months I would get an auto CLI of $250. I just got the card in May 2010 with a limit of $500. Anyone else experienced that? Maybe Cap1 is turning a new corner? I can say that they're making *some* customer service improvements which will be rolling out very soon (but sadly, I can't say exactly what for fear of putting my job at risk).

I couldn't get to the post office today like I planned which means I'll have to wait til Monday to mail my letters and will have to try and do so on my lunch break. I had heard previously that you could print CMRRR online so I went in search of a site to do so. I found http://www.simplecertifiedmail.com/. You order their free envelopes then print the labels from your computer, fold them and align them to show through the window. The amount is auto-debited from your account in a batch you preset and is refilled automatically at 25%. Then just drop in the mail like regular mail. Anyone else done this? I've ordered my envelopes to try it on my next batch. This one will have to be sent the old-fashioned way. The marvels of technology, I tell ya what!

Yeah, I don't know about persuasive - more like bullheaded and stubborn. At least, the guy I talked to was. I think I was so surprised to talk to someone who actually spoke English, my defenses crumbled! Disclaimer: (This is not intended as an insult to anyone who does not speak English well and is intended as a joke only. Please use at your own risk.)

Kudos to you! Awesome job!

Okay so I've been playing with this idea to close my FP card for the last few weeks. I now have Cap One with a significantly higher credit limit and no fees other than annual and a 0% int rate til Jan. FP charges me $7 per month simply to keep the account open. It cost me $180 just to open the card. I've had it for 9 months so August would be a year. When I called to close it the guy I talked to suggested I at least keep it open until Aug so I have a year of history with the card. Of course, I know it's so they can get their money but I thought, maybe it is a good idea? If I simply don't use it and keep my utilization down to just the $7 per month (total cost of $21 for 3 months of positive history), is it worth it to have it reporting for an additional three months to all three bureaus? Or am I better to just say, "I've spent enough on this card" and close it. I asked about a credit limit increase for free based on my history as well as a waiving of the monthly fee with no luck (not that I expected any but I had to try). Any thoughts? A little extra info - I am 1 year and 6 months post bankruptcy. I have a secured loan with my credit union that is positively reporting and has been for 8 months. I have a car loan for the last 9 months. I just opened a new $500 tradeline with Cap 1. I am working on opening a secured card which I will use my financial aid to open (cause I don't have to use that money). Once my inq's bump off later this month I will do another small app spree for a gas card, a jewelry store card, and a refinance auto loan. My reports, except for EQ because CSC is a pain in the rear, are mostly clean although I am working on a few outstanding issues. I welcome any and all opinions. My strong inclination is to close it and be done but I don't want to screw up when I've come so far and I know history is a big factor with FICO. I just feel like I'm throwing money away. Thanks!

Worse than not helping, CWG may get you on the chop list. jds has an automated counter up in the sticky section, but you only have 12 softs that count towards the 85 for Equfax. TransUnion only requires 63: Hey Guys - I wanted to let you know that I pulled my reports today via CCT and MPM and I think someone miscalculated. I had a b* on EQ and TU today! Not sure why or how (maybe due to no c* from EQ's product?) but I double checked it because I figured it would mid-June before I would get b* and it's there. Woot! Now if I can just get my stupid car loan to report correctly (working with the lender but so far the reporting has been deleted from both CRAs - grr!), then maybe I can refinance my 21% car loan! As soon as all these inq's bump off I'll hopefully apply with my credit union and if that doesn't work then Capital One. Just thought I'd share.

OMG - I disputed on TU and they all went away! The account shows no lates now! WOOT! Now if the others will only do that I'll be looking good!

bump

I think I'm going to call and find out exactly what card this is for because I honestly am no longer sure. Maybe I can verify over the phone then. Not to mention, I'm not even sure I know where 2 utility bills are! lol Everything is in a stack (going to go through it this weekend I hope).