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Jamesshrugged

Please help me decide the best way to raise my credit score

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here is a breakdown of my current debts

 

https://docs.google.com/document/d/1aDorQ3Ndaoyb28KVKSvemCZNI0-2VUznfSA2tzw-k38/edit?usp=sharing

 

The student loans and AR state tax i owe will be taken out of my income tax return this year. What do you think should be the next step? Should I pay off some of those smaller debts first to get them off my credit? Any advice is highly appreciated!

Edited by Jamesshrugged

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Of those debts 7 are on my credit reports. those are the only things i have on my credit. i did just get a $200 secured card from capital one to try to raise my credit score (from a very low 500), but it isnt reporting yet.

Edited by Jamesshrugged

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In general, understand that just because you pay off old debts, the fact that they were late, charged off, and/or sold to collectors, is going to drag down your credit report. And if you pay some of them you're actually making your situation worse by extending the statute of limitations on collecting on those debts. So definitely, the taxes, the fines, the student loans, should come first.

 

Are there any court judgments against you for the (non-tax, non-fine, non-student loan) debt?

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"Are there any court judgments against you for the (non-tax, non-fine, non-student loan) debt?"

 

No, no judgements at all.

 

"So definitely, the taxes, the fines, the student loans, should come first."

 

All of those are actually being taken from my income tax return this year, so they will be marked as paid. The only government debt I have remaining is the US Army overpayment of 2900$. I disputed the 1600$ broken lease and experian removed it, but transunion and equifax kept it.

 

With the fines and taxes being paid, what do you think the next step should be?

Edited by Jamesshrugged

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Anything current? Still owed to the original creditor rather than a junk debt buyer? How many of these debts are charged off? Are they still within statute of limitations? Any other legal obligations, like alimony, child support?

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"Anything current? Still owed to the original creditor rather than a junk debt buyer?"

 

The Arvest bank canceled check is a write off and still owed to the original creditor. It is also the only write off. Everything else is junk debt buyers. I dont have any other legal obligations like child support or alimoney.

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here are the junk debts, the amount owed and the open date:

 

Acct res corp 85$ 2010
I C SYSTEM INC 55$ 2014
MID CONTINENT CREDIT S 468$ 2013
PROFESSIONAL CR MGMT 90$ 2011

 

I live in Arkansas.

Edited by Jamesshrugged

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SOL for Arkansas is 3 years for open-ended (revolving) credit and 6 years for written contracts.

 

That is the time in which you can be sued but it is based on the time your account first went delinquent OR the date your last payment was made, if they convinced you to make another payment after it originally went delinquent. That is why you should not pay them.

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"Are there any court judgments against you for the (non-tax, non-fine, non-student loan) debt?"

 

No, no judgements at all.

 

"So definitely, the taxes, the fines, the student loans, should come first."

 

All of those are actually being taken from my income tax return this year, so they will be marked as paid. The only government debt I have remaining is the US Army overpayment of 2900$. I disputed the 1600$ broken lease and experian removed it, but transunion and equifax kept it.

 

With the fines and taxes being paid, what do you think the next step should be?

how do you owe the army 2900

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"how do you owe the army 2900"

 

I got out early to take care of my daughter after her mom bailed on us, so I had to repay part of my sign on bonus.


"That is why you should not pay them."

 

At this point should I do the "1-2 punch" on them?

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"how do you owe the army 2900"

 

I got out early to take care of my daughter after her mom bailed on us, so I had to repay part of my sign on bonus.

"That is why you should not pay them."

 

At this point should I do the "1-2 punch" on them?

NO!!!!! CONTACT DFAS Debt and Claims They will work with you to structure scheduled payments, depending on how fast you want to pay it off, at a %3 interest rate. Here is the website where you can call and figure it all out:

http://www.dfas.mil/debtandclaims.html

they will delete when paid back on simple request

 

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"how do you owe the army 2900"

 

I got out early to take care of my daughter after her mom bailed on us, so I had to repay part of my sign on bonus.

"That is why you should not pay them."

 

At this point should I do the "1-2 punch" on them?

NO!!!!! CONTACT DFAS Debt and Claims They will work with you to structure scheduled payments, depending on how fast you want to pay it off, at a %3 interest rate. Here is the website where you can call and figure it all out:

http://www.dfas.mil/debtandclaims.html

they will delete when paid back on simple request

 

 

The "not pay" advice was not about the Army. It was about the JDB's. Somehow the two replies got merged together.

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"how do you owe the army 2900"

 

I got out early to take care of my daughter after her mom bailed on us, so I had to repay part of my sign on bonus.

"That is why you should not pay them."

 

At this point should I do the "1-2 punch" on them?

NO!!!!! CONTACT DFAS Debt and Claims They will work with you to structure scheduled payments, depending on how fast you want to pay it off, at a %3 interest rate. Here is the website where you can call and figure it all out:

http://www.dfas.mil/debtandclaims.html

they will delete when paid back on simple request

 

 

The "not pay" advice was not about the Army. It was about the JDB's. Somehow the two replies got merged together.

 

good!

not paying the government could be considered theft

the government hates competition, do not steal

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Oh yeah, sorry guys, I did mean the junk debt when i mentioned the 1-2 punch.

 

the dfas debt was actually mostly covered by my income taxes, all but 500$ this year, so thank you for the link. i will set up a payment arrangement immediately.

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I think we're all in agreement there. Government, fines, federally guaranteed student loans, taxes, that stuff just doesn't go away. Junk debt, that's mostly what's left. That and a bad check.

Edited by InsultComicDog

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yes, and The check is actually a canceled check from one of my customers. They had paid me 2030$ for a product and then they canceled the check which caused my account to go negative by that amount, and i wasnt able to pay it back. (the business actually failed over the incident)

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yes, and The check is actually a canceled check from one of my customers. They had paid me 2030$ for a product and then they canceled the check which caused my account to go negative by that amount, and i wasnt able to pay it back. (the business actually failed over the incident)

 

You might want to order your Chex Systems report.

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"You might want to order your Chex Systems report."

 

yeah, i already know that i can't get a bank account. I had to use my girlfriends bank account to get the secured credit card from capital one.

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I've never been in this kind of deep doo doo, but the next thing I would do if I were you is start reading... about stuff like opting out, removing old addresses, understanding SOL, FCRA, FDCPA.

 

You have to consider the unintended consequences of some things you might try to do. So don't just jump into writing a bunch of letters without understanding more about what you're doing first.

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