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I believe I have not mastered what is hard for newbies and that is the knack of knowing when statements cut and what they report to the CRA's. I recently got a secured card with a $500 limit. I charged two gas trips on it which totaled $72 and the statement for that period was $36, due on November 24th. I paid in full 2 weeks before. On my credit report it states i paid $10 which was the minimum payment and my balance was $36. My score has not gone up at all in the last month, even though this is my first open account in a long time. Is there a reason for this?

Just trying to get opinions regarding New Accounts. After recently completing an App Spree for DW, she now has 14 new accounts (Yes I know, I am watching for AA!). We always PIF with exceptions of 0% Special Financing Options on large Purchases. However, since these are all new accounts, that have yet to close on a statement period, my question is should we PIF even though there are no min payments due or should I allow those balances to report, then PIF before close of next billing cycle? Any and all experiences and opinions are appreciated. Thanks

Basically, I'm trying to work out the ins and outs of how the payments will impact my budget, so, I was going to start out paying a smaller amount and work up to the full payments by the time my forebearance runs out in May. Does anyone know if I can do this without ENDING my forebearance and being required to make full payments out the gate? Trying to set myself up for success here. Thanks! PS: Can I direct that all payments be applied to the principle?

Hi all - I'm new here, but need some advice. This is going to be a lot of info, so bare with me... I was out of work for about 4 years. I did self employed work to give me some income and did OK, but we just barely met ends meet with our mortgage, car payment, and normal living expenses. I had/have four credit accounts that I had to stop making payments anywhere from 6-12 months ago. I am now employed again and making a very good salary. I want to get current with my accounts and eventually get everything paid off. I'm not looking for a way to cheat my debt. I made it, I'll pay it back... but I also don't know what all these different agencies are wanting and the best way to handle them so that there are no loose ends when I'm done. Here's the summary as I understand it. AMEX: The cards and balances still show up when I log into my AMEX online account. It appears that I can make a payment online, just as I could when I was current. HOWEVER... I called them and once I put in my account number, the automated system said that my account was being managed by Nationwide Credit, Inc. I'm not sure what that means to be "managed". Sears/Citi: I had a settlement offer from these guys at one point. I was in no position to do anything with it. So, I ignored it. Now that I'm ready to make things right, I called Citi and they told me that my debt had been sold. I called that company and they told me that it had been sold. The last company I was told that owned it is Security Credit Services. I actually haven't gotten ahold of these guys, yet, as they seem to be a small company with 9-5 business hours. Chase Ink: This has been sold off to United Collections Bureau. This is my biggest debt, ~ $14,000. I called UCB and they offered me a settlement for approximately half. Even though I'm in a good job again, I'm still catching up. I don't have $7,000 laying around to settle. I told them I'd start paying them $200/month. THIS is the root concern of this e-mail. They said that if I pay $200/month it goes towards the $14,000 balance. But, I can call later to agree to the settlement when I have the cash and they'll take the offer then. I DO NOT have that in writing and I have only sent one payment at this point (2 evenings ago). Bill Me Later (PayPal): This one is interesting. I talked to a representative and at first she said that it had been sent to a CA, but then she read further and said that it had been "recalled" and they were handling in house again. Looking at my balance online (which I can see when I log in and it will let me make payments), it's about $3,000. She said the "charge off" value is $1,500 and that I can make a payment for the $1,500 and it'll be done. This is directly to Bill Me Later, not a CA. I *might* be able to pull this one off. What's the best way to proceed so that I can pay my debts and not get screwed over. With AMEX, should I be paying directly to AMEX? What does "managed" mean vs. "Sold"? With Chase (UCB), should I trust those guys to accept payments? Or should I put the $200/month in my own account and when I get enough to make a reasonable offer, do that and write them a check? With Bill Me Later, she is saying that 1/2 has already been charged off. So, does that mean it's already on my credit? Would there be any benefit to me paying off the full balance or should I just pay the settlement amount? I.e. if I'm going to take the hit anyway, is there any advantage to paying the full balance. A couple of side notes. I have NOT pulled my credit report. Before this I had a credit score in the high 700's. However... credit score isn't my main concern. I don't want to use credit cards in the future. My wife and I lived for 10+ years without a single credit card... we'll probably go back to that or *maybe* another AMEX charge card for travel, when they let us have one. Nothing revolving. I can't wait to hear your advice... Many thanks in advance!

I am new on here and have seen some really useful information but I need some advice. I just had surgery to remove my appendix and I don't have insurance. I have received all of our bills and most of them won't be a problem. Lab results and the surgical doctor bills I can cover but I am having a problem with is my hospital bill. I was there less than 20 hours and they are charging me 20K just for the hospital. At first they would not negotiate the bill and said it had to be paid in full but we got them down to $1000 a month. I still can't make that type of payment for 20 months straight.. My first bill isn't due for another few weeks so I was seeing if anyone had any advice. I have really good credit and don't want to mess that up. They said I do not qualify for assistance because my wife and I are both full time workers..

I'm a newbie and have been reading a lot and I think I'm more confused that when I first started this process! I am trying to clean up my credit after realizing how bad it was. We are trying as hard as we can to be able to qualify for a VA home loan and need to clean up our credit as soon as possible. I know that I need 12 months of no late payments and a score around 640. Here's a run down of my current credit status: TU: 662 - April (590 - March) EX: 593 - April (585 - March) EQ: 610 - April (578 - March) I've been really trying to pay my payments on time and have not had a late payment since November. I also got a VISA through Credit Union with 1K limit. This last month looks good with my scores, but when I just checked my report it's showing 2 late payments from my old bank for a loan. I did call and explained my situation with the loan person and she said she would look into getting those off my report. Payment was due 3/1 and wasn't paid (husband's fault, we changed banks and didn't have money in account to pay for loan payment) until 4/5, but report was sent to credit bureau on 3/28 when loan wasn't 30 days late. Also report says it's late for March and April. I asked for a goodwill adjustment over the phone and that's what she's checking into. If that doesn't work I'll maybe try a written goodwill letter. The late payments last year were from student loans that were not late but were in consolidation, but were reported late. I have talked with student loan people and they said they couldn't take the late payments off the report, but I have not sent anything in writing and wasn't sure how successful student loan late payments were at getting removed.