JB1980

It’s been a super long time since I’ve been on here. It’s a little overwhelming in fact due to the growth. I’m in dual mode and correct me if I am taking the wrong approach. Previously I made some bad decisions and racked up debt, which went into collections, and some were CO. I recently looked at my credit and all 3 are in the 550’s. I’ve paid my collection accounts and now I don’t have any CL except one small credit card and a credit builder loan. I know it’s going to take time. However, is a Secured Card the best way to boost credit? Are there card offers out there that even look at a 550 Fico? *Thanks in advance and I apologize as I know I am supposed to search the forums first but I wasn’t having any luck. Sent from my iPhone using Tapatalk

Ok, I was expecting that but don't they (CA or OC) have to update it as "paid" even if they don't delete it? Or is there another angle of attack?

bump

I wrote the CA a Pay for Delete letter for a settlement of 30% of the balance. They came back with this: "Please deem this letter as an instrument of settlement between Americredit, it's agent Vengroff Williams & Associates, and John and Jane Doe." "Upon clearance of funds amounting to $XXXX.XX said debt will be considered settled in full among all parties. Let it be known that John and Jane Doe will be released of any further liability on account #XXXXXXXX regarding the above referenced debt." This is the discouraging info: "A final receipt will print 10 days after receipt of funds and information for updating the credit agencies will then be forwarded to you." --I haven't received a receipt, or any further correspondence from them, and they will not take my phone calls. I call and get dispatched to an operator, ask for the rep that I originally spoke to and always sent to voicemail, without a return call. I call and ask for their supervisor and get sent to their voicemail and still don't get a return call after leaving messages.

Alright, I had a vehicle repo'd a year ago. I ended up settling with a third party debt collector (Vengroff William & Associates) for 30% of the balance with the aggreement that AmeriCredit would update my report with all three CRA's as the account would be "paid in full". I just got a message from my credit montioring service that there was a potentially negative update to my report. All three CRA's are showing charge-off and under the comments it shows, "profit and loss write off". I never received anything in the mail from AmeriCredit but all correspondence was done from the debt collector (Vengroff William & Associates) who actually debited my checking account for the payment. I have no idea who to go after now, AmeriCredit or the collection agency? Any help would be appreciated.

Are you getting any Federal Aid for school? Is there a daycare at the school you go to? You should fill out a FAFSA for school so you can get AID if you haven't already. With a low or zero EFC, which I know you will have you will be authorized for Pell Grants, Student Loans, Scholarships, and Work Aid Programs. There has to be AID available for you. I am a single dad of two boys and I know how daycare is ridicuously expensive. The school I attended had free day care rolled in with the Work Study Program. I know you're looking for income or a solution, but you should exhaust all revenues first. Single Mom, Student, Uncle Sam has to cough something up for you. You said you were at a Community College, is there a State University around you? Usually it's the 4-year Public Schools which typically offer those programs but maybe not. If you get scholarships, grants, you can use those as income and keep deferring your student loans until you graduate. The hint is paying off bills with the scholarships and grant monies. Good luck either way, I feel for ya, and have been in your position.

I just separated from Active Duty after 9 years. I was deployed at least once a year between 4-6 months after 9-11. Internet is very questionable at overseas locations (AOR). Think about a hurricane coming into the state of Florida, who has power who doesn't? That's how the AOR is, so I can honestly say the internet, and electricity was at least out once a day and this last trip we were without internet for two months due to a major powerline problem. I came in the military at 19 years old, and immature and ignorant to the "real world" as they get. Back then, in 2000 if a creditor found out you were military it was very easy to get credit and also very easy to abuse it. By 2003 I had creditors threatening me and calling me all the time at home and at work. I was fortunate enough to take care of these problems but for some uneducated people it could mean their career. I think it's an education thing for military members. Usually you have to look at the demographics of the military members. You have people usually who can't afford school, or are unsure of what they want to do, so they join the military. Many new recruits are in a financial crunch so they enlist to get steady pay and health benefits. www.militaryonesource.com is free and is detached from base....meaning it's confidential. For people who need budgeting help or credit advice or even debt problems can utilize this web site and they will hook you up with a certified counselor. I will say it's more of a budget thing and/or emergency relief of debt. I strongly believe this website is the best resource for "fixes" though.

I've been browsing for a related topic but I haven't been able to find anything related to this: When we bought our house in 2004 my credit was so bad that I couldn't put my name on the mortgage. However, I improved my credit and was able to co sign with her on a home equity in 2006. She recently had to switch jobs and took a $20K annual pay cut. We were not able to keep up with the Mortgage, the (ARM) took effect and raised the mortgage $150 a month. With the home equity included my monthly payments were out of our financial means. We were going to file Bankruptcy and foreclose to just dump the house because it will not sell. We've contiued to list it and lower the price for the past year and we have not received one offer. We've stopped paying on it and moved out of it and rented a place that's more affordable. I don't have anything in collections, some old CO's that I am going to validate thanks to CB's advice. We had a vehicle recently repossesed, but besides that it's just the Home Equity and Repo which is hurting my report and FICO. I have info on the repo from CB, but was curious about the Home Equity since it was a joint account but I am not on the original mortgage. Does anyone have any suggestion on how to get that off my report or how to deal with the creditor (HSBC)? I'm in the military. My credit depends on me getting approved for another security clearance in a little over a year. If no security clearance, I face 1. possible career change/discharge, 2. embarassment from my unit while they deploy, and i sit at home without them. Thank you and I apologize in advance if there was a post related to this that I missed. Equifax:475 Experian: 516 TransUnion:535