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So when I was 18, I had a bank account with Wells Fargo for school, that my Grant went into. I was young and careless, and I spent beyond my means. Overdrafting several times. When I stopped going to school I never made another payment and now I'm stuck. I have this Wells fargo account in collections, it's been that way for 4 years, I have a Victoria's secret account that I've made a payment on in the past but can't find the information for seeing as I've moved since that's been there for 4 years as well, and as of 2013 I've got a 12k medical bill from being sent to the hospital and held there to see how I reacted. They didn't do anything at all for me or to me so I don't know why it was so much, but I didn't have insurance then, so it ended up being high. However, I just signed up for insurance, is there anyway to use that to cover the past expense? Helppp I really want to buy the house I'm currently renting but I need the credit to do so, and I'd like the opportunity to go back to school as well...I'm 21 years old now, what do I do?
I ran across the following article on myfico.com... seems to be very legitimate way of rebuilding one's credit score to 700+ post-bankruptcy. Please see:
If anyone has a successful plan that they have followed, kindly post. I am currently preparing paperwork to file my Chapter 7 Bankruptcy case; I plan to use this method post-discharge to rebuild my credit. If I posted this in the inappropriate place, I apologize. I am new and am still navigating this board.
Hello, if a similar post exists, please let me know and discard my post. Thank you.
Three years ago, I had a lengthy short sale. At the end of the process, I settled with the bank by paying as much as we can on the loan with a balance as debt forgiveness. In the after settlement letter, the bank said the debt forgiveness will be reported as "account paid in full for less than the full balance". As little as I understood back then, I didn't think this would be a problem for getting a mortgage in the future when we rebuild our life.
Now we are trying to buy a home and getting a mortgage, the lender pointed out this particular report on the short sale three years ago. Currently on my CR, it says:
XXX Bank INS 03/11 91125 Coll/ChrgOff TRU01 acct#YYY 180 M 637 06/07 88215 0 * 03/11 637 3822 (EFX,XPN) SECURED UNPAID BALANCE CHARGED OFF The lender indicated that this line is a concern for the underwriter and should be changed to something like "balance is zero". Could you please give me some advice/directions how I can fix this: 1. Should I contact the short sale lender and request them to change the report? If so, what should I ask them to change to? 2. Or should I dispute with the CRAs (if it's disputable)? Thank you so much for your help!
I've been member here for over a year now and I've been reading and reading every situation and scenario, that I know I can used it as a tool on my own success and thank you to all of you. I will start about my credit 8 years ago it is very very bad and I'm the one who is responsible about it and I did ruined it badly, I have no knowledge about my credit score and I was so clueless and iresponsible in my own financial. About 5 years ago when I became more aware and I would say matured I'm so mad at my self that my credit score is around 400 no one want to give me any credit or any chance to proove my self:( One day I called all my debts including all the collections and make some deals and paid it off one by one..and all the 800 callers are gone and thats a relief, I have a BOA checking and savings and I keep my debit card as my main form of payment and I always check my balance before swiping it and to make sure that I have enough money to save some troubles.
5 years ago I was approved for First premiere card yeah I know it sucks that I carried and used this mickey mouse card but hey I paid in full and this card is the one of the reason that help me lift my score:-) after that another toy card you must say Credit one bank and yes I took it and used it responsibly and yeah I guess I have no choice since I have a stinky credit score and that's what I get for being irresponsible. After that I was thingking to loan a New car since my old car is giving up on me and I was determined to get a car in the year 2013, and I was working so hard along working with my credit score. 2013 came and It was a good year I can feel it and I know I can do this on my own, I saved up my money for my car for a down payment. March 2013 I got a approval in my mail from Capital one I was thingking this is a good card and that means somebody noticed me how I change my lifestyle of paying my debt:-) yay! The approval was $300.00 yeah I know not that much but of course I took it and had some credit steps on it after 5months of being on time payment I will get a increased yah yah yah...whatever I didn't really think about it I continue to used it and PIF each month. October 15 2013 I went to ford dealer and I have no idea what I'm getting into but I know this is the day that I will take home a brand new car:-) Dealer are actually all overme of course typical business and I was nervous that I wont get any of the car not even a junk used one:-)I keep my self calm and I was upfronf with the dealer that I'm not looking for any fancy car I need a small sedan that will fit my budget every month and he was nice and listen for what I'm looking for I found the perfect car for me a small 2014 Ford Focus and back in to the business after dealing and talking here we go the shut gun began and I was waiting for the outcome if I'm approve or not...and my salesman walk into the waiting room and show me a paper that yes I'm approve on this car and based on my FICO score is 635 I was speachless and I cried because I did something right I didnt embarrased my self..lol after that he asked me how much I can afford on my down payment and I was proud enough to say half of the the price of the car and he is very surprised that a 29 year old woman has a $10,000.00 in cash on hand I never been proud of my self since that day...Fast forward my car is 1year old last 10-15-2014 and thats the same month I finished paying my car in full:-) Now you guys are probablly wondering what happened to my toy cards and my credits..I will list everything down below and I hope there is one person who will get inspired with my story I know it is very hard and I know sometimes we think that it's impossible to get back on track...But hey cheer up and start your day with your own way in a good way. Thank you folks for letting me share:-)
First Premiere-oldest card (drawer)$300.00
Credit One-second to the oldest (drawer) $1200.00
Capital One-starting $300.00 Now $5000.00 only over a year
BOA-Just opened $2500.00
And now my credit score 712
I never thought in a million years that I can come this far on my own and I found the CB after I cleaning most of my debt I still have a couple debt that will fall off this coming April 2015 and I'm patiently waiting for those to be gone on my reports...So far no lates and knock on wood and I'm so carefull on everything specially when it comes to my credit...Now I would love to join Amex probablly next year:-) thats my story and my Goal.
In 12/2011, I received an auto loan from Santander. Long story short, the dealership falsified documents to get me the loan. After speaking with a friend, I decided to get another car and got approved for another auto loan with Honda Financial with a lower payment, which I have made all my payments on time. I later received claim documents from my insurance company at the time about an accident on 5/22/2013, that I know never took place. I called my insurance company and they told me Santander filed the claim. I called Santander, and found out Santander for some reason, called my insurance company and filed a "loan servicer claim" on 5/22/2013 for damages on the car. The catch is... the car was still in my possession until 6/2/2013, which was a week after I called to surrender the car. I was so confused and they couldn't give me an answer as to why they did it, and I kept getting the run around from Santander and my insurance company. Just a big hot diddly mess.
I want to dispute it because it is the biggest factor affecting my reports. They are showing in the report as a default on auto loan and not a voluntary surrender or repossession. The account was charged-off 6/2013. The TL is still fresh, but I'm think with all the inconsistencies and things that have happened while I had this car, that I might somehow have a case. I live in Florida, and if I can recall the SOL is 5 years for written contracts.
Should I start a dispute, do a PFD or just hire a lawyer to help solve this? I'm not looking for any settlement from this issue. I just want it off my credit reports.