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kimbachelle
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I found CB about a month ago, and have been reading obsessively since. Like all the other newbies, I'm amazed by the amount of information here - but even more by the sheer number of you who dedicate your time to helping people out!! So I've decided to go ahead and start my thread to take advantage of all that kindness, but mainly to keep myself accountable :rolleyes:

 

My starting scores as of 01/03/2015: EQ567, TU552, EX550

 

How I got here: The typical bad decisions of an 18yo. Charged up a couple of cards in college, quickly charged off. Never paid a dime to student loans. I never had even decent credit, so never really had anything to lose by ignoring the bills. Other than a few subprime car loans, I haven't used any credit since the 90's. A couple of years ago I became a foster parent, and have had 14 children come, leave, and stay. We have 4 children (siblings) who came to live with us 21 months ago, all under age 5. They are now on the path to adoption, and we hope to become a "forever family" this year. Back in October, a very nice man knocked on my door and drove off in my car. I had the money in the bank - just hadn't gotten around to paying the bill in a few months. I got the car back, and the loan was reinstated - but a mistake like that could have been cause to lose my kids!! That was enough to yank my head up out of the sand; It's officially time for me to be a grown-up.

 

My goals: It would be nice to buy the house we're renting in a few years, and to get a decent loan the next time I need a vehicle. But mostly, I want to be more than a subprime parent to my kids. They deserve all the stability I can possibly provide!

 

My current "portfolio" (LOL):

 

Positive Tradelines:

 

None, zilch, nada!! I do have two secured cards on their way to my mailbox, a Cap1 and a WF. Both starting at $500, I plan to build up those CLs before looking for the 3rd card.

 

Collections:

 

3 meds totaling <$1000, one isn't on TU, but otherwise on all three. All from late 2013.

 

Automated Recovery Systems - $351 from April 2013, only reporting on EX. This was from some sort of print advertising for my former business.

 

 

Installments:

 

2 car loans; my current one has 9 lates, 2 are 60 days, and one 90 from October.

- one closed, has 2 lates that should fall off in June.

 

I'm still waiting on hard copies, this is all from online. I plan to start HIPPA on the meds once I get addresses off, the good thing is everything is tied to my last address. I'll definitely post the details on the medical forum before jumping off any cliffs!!

 

 

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I found CB about a month ago, and have been reading obsessively since. Like all the other newbies, I'm amazed by the amount of information here - but even more by the sheer number of you who dedicate your time to helping people out!! So I've decided to go ahead and start my thread to take advantage of all that kindness, but mainly to keep myself accountable :rolleyes:

 

My starting scores as of 01/03/2015: EQ567, TU552, EX550

 

How I got here: The typical bad decisions of an 18yo. Charged up a couple of cards in college, quickly charged off. Never paid a dime to student loans. I never had even decent credit, so never really had anything to lose by ignoring the bills. Other than a few subprime car loans, I haven't used any credit since the 90's. A couple of years ago I became a foster parent, and have had 14 children come, leave, and stay. We have 4 children (siblings) who came to live with us 21 months ago, all under age 5. They are now on the path to adoption, and we hope to become a "forever family" this year. Back in October, a very nice man knocked on my door and drove off in my car. I had the money in the bank - just hadn't gotten around to paying the bill in a few months. I got the car back, and the loan was reinstated - but a mistake like that could have been cause to lose my kids!! That was enough to yank my head up out of the sand; It's officially time for me to be a grown-up.

 

My goals: It would be nice to buy the house we're renting in a few years, and to get a decent loan the next time I need a vehicle. But mostly, I want to be more than a subprime parent to my kids. They deserve all the stability I can possibly provide!

 

My current "portfolio" (LOL):

 

Positive Tradelines:

 

None, zilch, nada!! I do have two secured cards on their way to my mailbox, a Cap1 and a WF. Both starting at $500, I plan to build up those CLs before looking for the 3rd card.

 

Collections:

 

3 meds totaling <$1000, one isn't on TU, but otherwise on all three. All from late 2013.

 

Automated Recovery Systems - $351 from April 2013, only reporting on EX. This was from some sort of print advertising for my former business.

 

 

Installments:

 

2 car loans; my current one has 9 lates, 2 are 60 days, and one 90 from October.

- one closed, has 2 lates that should fall off in June.

 

I'm still waiting on hard copies, this is all from online. I plan to start HIPPA on the meds once I get addresses off, the good thing is everything is tied to my last address. I'll definitely post the details on the medical forum before jumping off any cliffs!!

 

 

Welcome Kim.

 

You sound like my long lost twin. No worries, I was in much worse shape than you when I arrived.

 

Those recent lates will hurt you for awhile but that is not the main concern right at this moment, work on those shortly.

 

As you stated, getting some positive tradelines reporting is a good first step. Then as soon as possible, get working those medical collections. It's not unheard of to have the Why Chat process take months to properly remove them from your reports, and very possible you will have to pay a good portion of the amount owed, to the OC Healthcare Provider. If you we're uninsured at the time, you can likely get a discount of roughly 75% of the billed amount, depends on situation.

 

Do not move forward until you get rid of the old addresses, it can help tremendously, including having negatives deleted on that basis alone. EX will give you the most trouble and there is a Master thread here on techniques best used for them. The other two should be simple. If you can not get them removed from EX, move forward anyway.

 

Those are decent limits on your secured cards, to start. I have seen worse. You should look into finding one more, as three open revolving tradelines will maximize your scores. As was stated above, your scores will stay pulled down for awhile, but don't let that discourage you, think of it as you are patiently allowing them to be there. We will work the lates, collections and anything else negative. About the time the negatives are all removed, you will have a solid reporting history of hopefully six months or close, then we can formulate your next moves. If the main goal is mortgage, that is a different path than someone who is looking for travel rewards.

 

It all takes time. If you can exercise patience, there isn't a member here who wont go out of their way to help you, including myself. But you have to want it. If you're serious, we will be.

 

Good luck and just know, we all run into financial difficulties. It doesn't make or break us, but it can mold us. You'll be fine.

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And for Pete's sake, do NOT get in bed with the snakes from First Premier, Credit One or Merrick. Or Fingerhut. Soon enough, someone will be along to tell you to add Discover to that list, but I really don't know why. Discover still won't give me anything even though they're supposedly less than prime.

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Thank you all for the warm welcome! I'll start studying that thread on EX addresses while I'm waiting for my hard copies, and look for another secured card. The thought of getting most of those collections off in a matter of months is thrilling!! I've always expected to wait out the 7 years. Glad they're all (relatively) low amounts, I understand that I'll probably have to pay them all, and have that money set aside. Thank you so much for taking the time and offering so much advice!

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Glad you're here, OP! Hi_zpsychejoud.gif

 

I can tell by the tone of your post that you're starting out with more patience than some of us. BlushingGirl_zpsu3fhvs1y.gif You deserve a huge KUDOS for that! And I have tremendous respect for the work you're doing in those kids' lives. You'll do GREAT with this project, and your higher reasons will only add to the natural passion most of us feel when we dig in and take charge of our respective financial lives. Yahoo_zpsi70k8bat.gif

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You're in the right place to find the help you need. Welcome.

 

Were your student loans federal or private? If they were federal, you should still be able to rehabilitate them and get them back in good standing. A lot of us here, myself included, have gone through the process, so don't ever be shy about asking questions.

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Thank you all so much!!

 

So, I've already hit a hiccup. I have been at my current address for less than a year now, and my new address isn't yet on any reports except for EQ. (Only thing I've done from this address is the secured card apps.) I had to have the reports sent to my last address, which is the one all of the med. collections are tied to. I'm thinking it would be futile to try and dispute the address to which I had the hard copies mailed! :unsure:

 

I think I should go ahead and start the HIPPA process, with no expectations of any e-Oscar deletions. Once I have the meds resolved, maybe I'll be in a better position to try and get the old address off of EX, for the last reporting CA. Someone please stop me if there is a better option.....

 

On a brighter note, I've got the third secured card on it's way, also at $500. I went with the US Bank Harley-Davidson, it graduates and no annual fee. :good: So my plan is to push up the CLs on that one and the WF as much as possible before they graduate, then use those deposits to max up the Cap1 limit before I close it.

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I'm thinking it would be futile to try and dispute the address to which I had the hard copies mailed!

That doesn't really mean anything.

 

They don't remember stuff like that.

 

LOL - so there's a chance of removing the reported "current address"? Should I just try Why Chat's suggested snail mail w/proof of address, instead of the phone method that seems to be successful with EX? They don't have my current address reporting at all yet.

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  • 1 month later...

Thought I'd update my thread, as I've had my first bit of success :grin:

 

I'm still in the initial stages of the HIPAA process, and one of my meds has been deleted across all 3 CRAs.

 

One down, two to go. :good:

 

All 3 secured cards are also now reporting.

 

Plugging along......

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You're doing great! :grin:

 

And you picked three very good secured cards.

 

Good luck with your medical disputes!

I'm also doing the WhyChat HIPAA program now.

 

 

After your med CAs are done,

hit your other CA hard with the 1-2 punch / jack attack, etc.

and start a relentless GW campaign on your lates -- esp. the 90-day.

Edited by tweak
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  • 5 months later...

Time for an update. It's been 8 months - all CAs are gone, but still have the recent 90-day which will keep my scores down for quite awhile.

 

TU 08: 552-->674

EX 08: 550-->662

EQ 08: 567-->670

 

I started by getting secured cards, so still have:

 

WF - $500

Cap1 - $500 $800

Harley - $500

 

I will be closing the Cap1 before the annual fee hits (bumping up the deposit first), and looking to graduate the other 2 in February.

I also pulled the trigger too soon on BofA, and ended up with another rebuilder, the 99/500. Should graduate in 12 months (next July).

 

I started with NO unsecured credit, and currently have:

 

NFCU CLOC: $15K

NFCU cash rewards: $10.1K

Venture: $5K

Amazon prime: $3.5K

US Bank cash: $1K

CareCredit: $1K

 

Total $35,600, average limit $5933

 

My next goal is to grow my US Bank, combine the graduated Harley into it, and upgrade to cash+.

 

Bottom line - so far I've gotten over $250 cash back on my regular spend, with a $400 Venture bonus right around the corner. I've saved at least a couple hundred by buying discount GCs, and of course 5% @ Target, all from reading CB.

 

Thank you ALL for helping me get my credit going in the right direction - and especially for making the game fun in the process. :grin:

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Time for an update. It's been 8 months - all CAs are gone, but still have the recent 90-day which will keep my scores down for quite awhile.

 

TU 08: 552-->674

EX 08: 550-->662

EQ 08: 567-->670

 

I started by getting secured cards, so still have:

 

WF - $500

Cap1 - $500 $800

Harley - $500

 

I will be closing the Cap1 before the annual fee hits (bumping up the deposit first), and looking to graduate the other 2 in February.

I also pulled the trigger too soon on BofA, and ended up with another rebuilder, the 99/500. Should graduate in 12 months (next July).

 

I started with NO unsecured credit, and currently have:

 

NFCU CLOC: $15K

NFCU cash rewards: $10.1K

Venture: $5K

Amazon prime: $3.5K

US Bank cash: $1K

CareCredit: $1K

 

Total $35,600, average limit $5933

 

My next goal is to grow my US Bank, combine the graduated Harley into it, and upgrade to cash+.

 

Bottom line - so far I've gotten over $250 cash back on my regular spend, with a $400 Venture bonus right around the corner. I've saved at least a couple hundred by buying discount GCs, and of course 5% @ Target, all from reading CB.

 

Thank you ALL for helping me get my credit going in the right direction - and especially for making the game fun in the process. :grin:

Can you elaborate on the discounts and 5% at target? I just started rebuilding too. Thanks.

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There are several ways to get 5% (or more) at Target. I use the prepaid Redcard by amex, you purchase this at target and load money onto it with your debit card or debit gift cards. You can also often buy discounted Target gift cards online, google "gift card granny" to monitor prices on gift cards to the stores you frequent. These tips don't build credit - but they can increase your rewards by using the credit you have.

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