One down, one to go - DW rebuild thread

[Orly]

So, thanks to the helpful members here, my CR is pretty much cleaned (1 pending dispute left) I now wan't to tackle my wife's CR. We wen't through some rough times with job losses and such so mistakes were made. About 10 yrs ago I worked on cleaning some of her older credit from her 1st marriage. Got some deleted and many just SOL'd right off.

 

I pulled her free annual CR's but couldn't get TU online so I'll post from EQ and EX. Gotta call to get TU. Have no idea what her FICO is.

 

Equifax:

 

Open Accounts:

 

Capital One

Account Number: Current Status: PAYS AS AGREED

Account Owner: Individual Account. High Credit: $ 1,807

Type of Account : Revolving Credit Limit: $ 7,100

Date Opened: 05/30/2003 Balance: $ 30

One 30 day past due reported Aug, 2013.

OCWEN LOAN SERVICING, LLC.

Current status: PAYS AS AGREED

Account Owner: Individual Account. High Credit: $ 132,700

Type of Account : Mortgage Credit Limit:

Term Duration: 36 Years Terms Frequency: Monthly (due every

month)

Date Opened: 06/13/2005 Balance: $ 112,971

Date Reported: 04/30/2015 Amount Past Due:

Date of Last Payment: 04/2015 Actual Payment Amount: $ 1,123

Scheduled Payment Amount: $ 1,098 Date of Last Activity: 04/2015

Date Major Delinquency First Reported:

Months Reviewed: 55

Creditor Classification:

Activity Description: N/A

Type of Loan: Conventional RE Mortgage

Date of First Delinquency: N/A

Comments: Loan modified

120 past due 8/2011; 90 past due 9/2011; 60 past due 7/2011; several 30 past due last occurring 9/2014.

I have no ownership or interests in this home. It's is my wife and her kids so I pretty much stay out of it financial-wise.

Closed Accounts:

Bank of America

Current Status: CHARGE-OFF

Account Owner: Individual Account.

Date Opened: 03/28/2005

Balance: $ 0

Date Reported: 05/21/2013

Amount Past Due:

Date of Last Payment: 11/2012

Actual Payment Amount:

Scheduled Payment Amount:

Date of Last Activity: N/A

Date Major Delinquency First Reported: 04/2013

Months Reviewed: 91

Creditor Classification:

Activity Description: Transfer/Sold

Charge Off Amount: $ 2,289

Date Closed:

Type of Loan: Credit Card

Date of First Delinquency: 01/2012

Comments: Charged off account

BofA really pissed us off. They pulled that Debit Re-sequencing scam (http://www.dailyfinance.com/2011/11/08/bank-of-america-settles-excessive-overdraft-fee-lawsuit-for-410/) on our bank account a lot during our financial hardship period. All those overdraft charges got billed to this CC and we just gave up on it. We will forever despise BofA.

HOMEQ SERVICING

Current Status: PAYS 31-60 DAYS

Account Owner: Individual Account.

High Credit: $ 127,000

Type of Account : Mortgage Credit Limit:

Term Duration: 30 Years

Terms Frequency: Monthly (due every month)

Date Opened: 06/01/2005 Balance: $ 0

Date Reported: 09/01/2010

Amount Past Due:

Date of Last Payment: 08/2010

Actual Payment Amount:

Scheduled Payment Amount: $ 1,198

Date of Last Activity: N/A

Date Major Delinquency First Reported:

Months Reviewed: 55

Activity Description: Transfer/Sold

Charge Off Amount:

Date Closed:

Type of Loan: Conventional RE Mortgage

Date of First Delinquency: 12/2009

Comments: Variable adjustable Rate

30 days past due 2/2010 - 9/2010

This loan I believe was transferred to Ocwen Loan Servicing (refer to above) when she did a loan mod.

Others: Positives

Carmax auto loan: paid in full good standing. Closed

AMC MORTGAGE SERVICES: Pays as agreed. Closed

Best Buy: Pays as agreed. Closed

GAP: Pays as agreed. Closed

No Collections or Public Records

Experian

Same negatives accounts as listed in EQ above

Same other positive accounts as listed in EQ above

No Collections or Public Records

DW credit reports was not as bad as I was expecting but far from good. I expected to see CA's.

There is no immediate need for her credit use in the foreseeable future. I would like to start thinking about how rebuilding her credit should be handled. I'd rather do it now with plenty of time on my side.

We have since changed our lifestyles to eliminate the need for so much credit. After having lived much of our lives up to our eye-balls in debt, we now try to live within our means and do as much as we can pre-funded.

Thx in advance.

Edited June 1, 2015 by Orly

[tweak]

BOA charge-off:

Read this.

In a recent settlement, BOA agreed to remove all negative marks for COs that they sold.

I think this is supposed to happen by August.

Keep an eye on this - you may get lucky.

If this CO is removed by BOA, her reports will be in much better shape!

 

OCWEN:

When the recent 30-late from 9/2014 hits 12 months old, it will have less effect.

The 90 and 120 lates from 2011 will, however, continue to hurt until they fall off in 2018.

But she could still get in the 715 range on FICO even with the 90 and 120 reporting.

All I can think of is goodwill (GW) letters.

 

Anyone else have an angle on OCWEN?

[Orly]

The BOA dropping charge-offs is definitely good news. Those bastards deserve to burn-in-hell for all the crap they pull off. I guess you still haven't found the original information regarding BOA's intentions regarding his matter?

Since the BOA charge-off is listed as sold/transfered, who was is sold too? Nothing else appears on the CR. I'm good with it never popping up again but wonder if it still can.

 

I'll wait to see if anyone else has an angle on OCWEN.

 

Thx tweak

Edited June 1, 2015 by Orly

[Orly]

Any thoughts on the single 30 day past due reported Aug, 2013 with Cap1?

Edited June 2, 2015 by Orly

[tweak]

Any thoughts on the single 30 day past due reported Aug, 2013 with Cap1?

 

After everything else it clean, it would probably only cost about 30 FICO points.

See BobWang's chart.

 

You could try GW letters - but the other things are worth most of your energy.