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Found 7 results

  1. Hi CB - first off, truly impressed with the amount of information and knowledgeable people on this forum. I really appreciate all the information sharing and people willing to help. We are in the process of repairing our credit (wife + I). I recently ran my credit score on creditkarma.com and was shocked to see it drop to the mid 550s (thankfully my wife is hovering just above 700). Although I never maintained my credit report, I was definitely surprised to see it so low and it did serve as a wake up call! We have a goal to apply for our first mortgage in 2-3 years. After finding this forum and reading the past week or so I think I'm ready to take some action. I'd be really grateful to anyone that takes the time to read through and confirm this is the correct approach and offer any advice. Pulled all 3 credit reports from annualcreditreport.com Opted out via outbound link disallowed.. I did the 5 year online method. I'm thinking we should do this permanently (we could always opt back in)? I am going to call to remove all old and inaccurate addresses/names/phone numbers in the "Personal Information" section. There was quite a few that are wrong or outdated. It seems this is probably the only thing CB suggests we remove via phone call? Or would mail be safer/better? Remove Negatives from our accounts. I have a few and they are as follows: 30 day late payments: I have mostly 1 late payment (30 days) across 7 different credit accounts. Should I write a "GOODWILL" letter and ask for an adjustment? Or should I ask first for the creditor to validate the account? If that fails should I keep asking for a Goodwill adjustment or ask for a Pay to Delete? Essentially question here - what is the best order of steps and if I do one will it affect the other (i.e. Goodwill adjustment will cause a validation attempt to be denied). Closed in Settlement: My wife has 2 accounts with Chase that were closed/settled for less than full balance. What is the best approach to get this removed? The unpaid balance ranges from 2-4k. If we do a pay to delete would we expect to pay that much? Finally, these accounts are expected to be removed from our report on 01/2017... should we just wait it out since we're not planning on buying a house any sooner? Closed accounts: We have a few accounts that just show as closed by "grantor". They appear to be in good standing, no late payments, no high balance... just closed by "grantor". Should I try to get these removed? If so, how? Once all the above is done, we're going to try to open some positive accounts, probably starting with a secured credit line. We also need to pay off some high balance accounts to improve our utilization ratio. So that's the plan! Please critique and let me know if I'm doing this right. I really appreciate it! Thank you ALL!
  2. Hi guys, First time/long time... wondering if you had any advice as I consider my next moves. I'm 25, make about $43k a year before taxes, and have investment assets and income I could include if needed. Had credit since 2010, no missed payments, baddies, or anything like that. Oldest account is 3 yrs 8 months, newest is 7 months, and AAOA is about 1 year 10 months. These are my cards: AMEX Blue Sky, $10,500 limit AMEX Blue Cash Everyday, $2,000 limit BofA BankAmericard $5,000 limit Barclaycard Rewards $2,000 limit (newest, opened 1/2014) Barclaycard Financing (Apple) $2,350 Chase Slate $3,300 limit Chase Sapphire $5,000 limit Chase Freedom $4,000 limit Citi Dividend Platinum Select $5,900 limit (oldest, opened 12/2010) Citi Simplicity $3,000 limit Citi AAdvantage Bronze MasterCard $6,500 limit Discover IT $4,500 limit FNB Omaha $6,000 limit Comenity/JCrew $1,000 limit Comenity/Express $500 limit Utilization is around 23%. I have roughly $14k spread across several accounts with long-term (>12 months) 0% offers, otherwise I pay everything in full and do not carry a balance. If needed I could pay off the $14k immediately but since it's at 0% and I'm earning more in my investments I don't see a need to do that while the offers are still in effect unless you have better advice. Is it worth applying for more cards (if so, which)? Should I focus on CLIs (again, where should I prioritize and how much to ask for)? Both? Neither? Is it time to garden? I have an inquiry scheduled to drop off in November, by which point my AAOA should be over 2 years. I appreciate your guidance. Thanks in advance!
  3. PLEASE HELP! Brief summation: I had an account that I have not paid, was charged off and sold by HSBC to Cavalry. It was purchased by Capital One before it was sold I assume. I have been disputing this account since May for various reasons mainly because the reporting was sloppy and I thought I could get it removed. For every credit bureau dispute Capital One has updated the account but has never deleted. Recently, I filed a second dispute with the CFPB against Capital One because after the last update, the comments posted by Capital One stated "payment after charge off" but the status of the account does not say "paid charge-off". I received a response letter from Capital One executive Erika Rodriguez stating that my last payment was of $40 and made on August 29th, 2011. Well, I looked at the statements I had them send me from the first CFPB dispute and found that the payment was returned and was not applied to the account, yet they verified this multiple times to the credit bureaus, which means my date of first delinquency would be a month earlier then it list on my report. I also have my bank statement confirming the payment was returned. Because Calvary deleted their trade-in I also asked for bill of sale proving they own the account. Ms. Rodriguez's response was that they purchased it and she took the liberty of confirming with Calvary that they own the account. My question, is this a legitimate violation that I could leverage for deletion and is Calvary allowed to discuss my account status? Being that they purchased the account they are not the original creditor maybe this would give more leverage, how should I proceed?
  4. Sorry there is a lot of information below. I had some great success here cleaning up my credit, but every case is different, and I was still sort of at a loss when a friend asked me for advice. These are the 7 baddies on her credit report from TU. She ran into some financial trouble in 2007, closed all her cards, and used one of those credit counseling agencies to negotiate paybacks. Other than one of the GECRBs, it looks like everything got paid in full. She has one GECRB store card now, so not blacklisted or anything. Her file is pretty thin, mostly less than two years old, and only a few credit cards and a car loan at that. So basically, looking for advice: How much do 5-7 year old late payments still hurt score, if at all? If they still matter, does it matter more that they show as 60 or 90 or 120 days, or when they are that old, they basically all matter the same? Do you attack all baddies no matter what, or as I have seen mentioned, does the law of unintended consequences weight heavily on that decision? Would losing an account like BOA that was opened 12 years ago, especially with a thin file, do more damage by dropping AAOA than any benefit from removing a few nearly 7-yr old lates? How would you advise these 7 oldies be addressed? Dispute, goodwill, leave them alone? Thanks! BOA Date Opened: 03/13/2002 Loan Type: Credit Card Balance: $0 Last Payment Made: 07/13/2011 Date Closed: 06/27/2007 Maximum Delinquency of 60 days in 08/2007 an in 09/2007 for $456 Remarks: Account closed by consumer CNB Date Opened: 12/10/2005 Loan Type: Note Loan (Auto) Balance: $0 Last Payment Made: 02/12/2010 Date Closed: 02/12/2010 Maximum Delinquency of 30 days in 09/2007 and 01/2010 Remarks: Closed CNB Date Opened: 07/24/2004 Loan Type: Note Loan (Auto) Balance: $0 Last Payment Made: 02/13/2009 Date Closed: 02/13/2009 Maximum Delinquency of 30 days in 09/2007 and 12/2008 Remarks: Closed DISCOVER Date Opened: 10/19/2005 Loan Type: Credit Card Balance: $0 Last Payment Made: 07/13/2011 Date Closed: 06/27/2007 Maximum Delinquency of 60 days in 09/2007 Remarks: Closed by credit grantor GECRB Date Opened: 02/08/2006 Loan Type: Charge Account Balance: $0 Last Payment Made: 02/24/2011 Date Closed: 06/27/2007 Maximum Delinquency of 120 days in 08/2007 and 09/2007 for $124 GECRB Date Opened: 11/06/2005 Loan Type: Charge Account Balance: $0 Last Payment Made: 05/18/2009 Pay Status: Charged Off Date Closed: 06/13/2007 Maximum Delinquency of 120 days in 09/2009 and in 11/2009 for $94 Remarks: Purchased by another lender; unpaid balance charged off Estimated month and year that this item will be removed: 05/2016 US BANK Date Opened: 02/23/2007 Loan Type: Conventional Real Estate Mtg Last Payment Made: 08/16/2013 Date Closed: 09/03/2013 Maximum Delinquency of 120 days in 12/2010 for $2,691 and in 03/2011 for $2,732
  5. I currently have a credit score ~575 which is significant leap from the mere 300s it was last year. I'm 27, single, no kids, college educated, work full time. Here's how I ruined my credit: College/Student Loans - Like many others I had to pay for my education with student loans, unfortunately I was young and stupid and took out substantial private loans through Sallie Mae totaling $52,000 for 5 years of school (before interest). I had no idea what I was getting myself into - I didn't even have a credit card at the time! I just knew I needed money and they were giving it out, no questions, no cosigner, no credit history. I also have some Federal loans totaling $17,000 (before interest). My parents had no idea what I was doing, how much money I was getting and at what interest rate - we never talked details. So I graduated with $69,000 in student loan debt that had been accruing interest at variable rates for 5 years - no big deal, I'll find a job and be making lots of money - WRONG! I was offered a full time position at the retail job I had worked during college, it paid $10 an hour, I had no other prospects. I was able to defer my Federal loans once the 6 month grace period after graduation was up, the private loans were another story. I received a bill for $846 from Sallie Mae, I was making $850 per month, no way could I pay that. They didn't care, they would not help. I paid what I could but the account became delinquent and the non-stop phone calls started so I stopped paying altogether. My account was delinquent for 7 months, on the verge of default before they finally offered me a "payment plan". I have made all payments on time for that account for the past 14 months. I have never been late on my Federal loans. Unpaid Medical Bills (now in collections) - A kidney stone attack landed me in the ER, the stones had to be surgically removed. I was still working my $10 an hour job and had health insurance but my insurance didn't cover all of the treatment. I owed $3,200 between 10 different bills, I paid the smaller ones I could afford and ignored the larger ones which are now in collections. Credit Cards - I currently have (
  6. Anyone have advice on the best way to dispute the following: Person #1 had a Chase Flex Spending card as part of their health insurance at work. Person #2 was a dependent, and was added as AU on this account. Due to the way funds are added throughout the year, it is possible to spend more in a given month than is on the card. Person #1 gets fired, and Chase charges off the small negative balance. Person #2 now has this charge-off on their credit report. How does Person # 2, the AU, get this account OFF their credit report? Is it best to dispute via snail mail, so it is easier to explain, or will a simple online dispute where you say it is 'not your account but belongs to a family member' get it done? Or, is the best solution to dispute over the phone (I hear heads exploding now...) to get the speed and ease of an online dispute without missing out on the chance to explain that Person #2 was only an AU and has no obligation to pay and wants this entire trade-line removed from file? In other words, is a detailed explanation necessary, and worth the longer wait, or will it likely just fall off if disputed?
  7. So here is the deal. Thought my TU was 756, which was their Vantage score. I was way off. MyFico said TU is 675 when I ran it today. That puts all my scores in the 650-675 range. 3 years ago, I had a bad stretch, and used a credit service to help me. All accounts were paid in full and closed. Currently, I have a mortgage (originally $61K, now $55K), 5 student loans totaling $20K, a car loan (also $20K) and a CapOne card with $300 limit. Requested an increase in CL three months ago, and CapOne said no. Other than just letting my score climb a few points per month as I pay on these 8 accounts, what do I do? I do not want to run up a bunch of pulls if I am not going to be approved. Today, when checking out online with Victoria's Secret, I was offered a $500 pre-approved account. Should I accept these sort of offers, even though they are store cards and have such low limits? Am I better off making an effort for another major credit card (maybe Barclay's as my TU is the highest) or better off just looking at other cards issued by WFFNB/Cominity like Victoria's Secret and add three or four of those at $300-$500 limits each? Would opening these new accounts, and having pulls, help or hurt my credit overall? Clearly it is an issue that I only have one card with a $300 limit (I use it but ALWAYS paid in full before the day it reports), but I am confused whether having more available credit would help more than opening new accounts would hurt. I would appreciate ANY advice on how to get my score higher and at get a card with a limit high enough that I can at least use it for emergencies. Thanks all!
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