Lurker seeking advice

[iithinkican]

Hello Everyone - it is Oct 1, 2014

 

I have been lurking on this site for a bit and finally decided to register and post my own struggles and seek advice.

 

I just graduated from college in June and got a job in August and make a decent salary; I'm able to save about $1000-1500/mo after regular bill payments, depending on how frugal I am.

I also live in California where the SOL is 4 years.

 

I have opted-out and am in the process of calling the CRAs to remove old addresses.

I haven't gotten any real reports, annualcreditreport.com gave me "We were unable to honor your request. "

I am going to print and send the form that came with the notice.

 

creditkarma.com lists the following:

 

Credit Score: 602 (up from 597 last month - woohoo!)

Auto Loan: $13,714.24 @ 2.9% (not a problem)

Fed Student Loans: $47,345 @ 3.6-6.8% (unconsolidated - still in grace period)
Sallie Mae: $27,018 @9.75% (yikes!)

 

6 derrogatory remarks:

CA1) $1642 - Delinquent Capital One (Feb 2011)

CA2) $839 - Medical - Uninsured at the time (Feb 2011)

CA3) $735 - Delinquent CC? not sure - (Oct 2013)

CA4) $640 - Dental - Uninsured at the time (Oct 2010)

CA5) $183 - Medical - Uninsured at time (Feb 2010)

CA6) $122 - delinquent Utility bill (Nov 2011)

 

I think it is worth noting that none of these accounts are with the original debtor but a Collection Agency.

 

So I'm trying to come up with a plan of attack here:

 

Obviously I want to get rid of all the negative CA marks, however, the interest on the Sallie Mae loan is killing me.

 

I know I have 36 months of deferment for the Fed. Loans and I'm hoping to have a huge chunk of the SM loan paid off by the time that's up.

 

For SM The minimum payment is about $249 and I can afford to pay $500-750/mo but that doesn't leave much room for aggressively tackling the CA's and still build a savings.

 

Some of those accounts are past the SOL and one (CA4) is approaching the end of the SOL.
I have moved around quite a bit so if there was a summons sent I didn't get it.

 

I'm a little hesitant to send out DV letters as I read here that it could actually harm me: http://www.avoidbk.com/debt-validation-letter/

Should I send out DV's to the ones past the SOL or send them a C&D?

I think the next logical step would be to verify the debts listed above that aren't past SOL by phone and try to strike a deal. I did get one off my report by paying 50% of the original debt amount, Is this bad practice?

 

Next would be to aggressively pay off the SM debt after I've built a good savings and cleared the CA marks.

Maybe join a CU and consolidate all the SL debt into one at a lower rate.

 

What do you think?

Thanks in advance!

[MommaE]

You should start another thread on the medical forum, also, listing those medical related CA's and get some advice from Why Chat about the HIPAA program. He'll guide you through the process.

 

http://whychat.5u.com/hipltr.html

 

Welcome and good luck on your credit repair journey!

[mamiso]

Welcome and Good Luck to OP....

 

If you plan to stay a while... start a thread detailing your credit journey...

 

Plenty of CBers here just waiting to help you ... (and boost their post count) jk