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SweaterGirl

Confused newbie trying to repair credit

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Hi everyone. I’m trying to repair credit for myself and my husband so we can get a good mortgage hopefully by next summer. We have some dings from job layoffs and not having emergency funds, but I have spent a year and a half getting our budget set up so we have a good buffer and should job loss happen we would still be able to pay our bills for a while. So, credit repair is the next step. I am hoping for some advice. I’ve been trying to do things on my own and I feel like I still am kind of clueless. I sent some verification letters but a mortgage lender told me having those disputed notes on my file is no good.

 

Good? Stuff from my credit report:

  1. Capital One Quicksilver $1500CL, paid on time and utilization under 9%, opened 3/2017

  2. Capital One Quicksilver One $500CL, paid on time and utilization under 9%, opened 11/2017

  3. Comenity store card $610CL, paid on time and currently $98 balance, not sure if I should pay that down more - I hate to keep buying stuff and I want it to report, opened 10/2017
    Self Lender that was paid off in 2/2019 so now it reports as closed

  4. Capital One auto loan, balance around $14,500, paid on time, opened 12/2018

  5. All of my student loans report paid on time.

 

The bad stuff from my credit report:

  1. Credit One chargeoff, reporting $0 balance, DOFD 1/1/2015 - I paid the CA for this one, both OC and CA are still showing right now (just paid it off for a settlement amount this month)

  2. Old Navy paid for less than full balance and closed in July 2013, reports past due through end of 2013. It says “account paid for less than full balance”. Not sure DOFD.

  3. Kohls chargeoff, DOFD 4/2013

  4. Barclays chargeoff, reporting $0 balance, DOFD 2/2015, paid the CA for this one as well - both OC and CA report, similar to the Credit One account above. This also says “consumer disputes after resolution”.

  5. First Investors auto reposession 8/2015. Reports $0 balance.

  6. PRA $999 old Cap One card, DOFD 3/2015

  7. Midland for Barclay, paid for less than full amount, CR has not updated yet

  8. Midland for Credit One, paid for less than full amount, CR Has not updated yet

  9. Penn Credit electric bill collection, placed 4/2016, planning to pay this week

  10. Professional Debt Mediation collection, planning to pay in the next few months, placed 2/2015

 

My husband has 2 open, paid on time Cap One cards (newer than mine), the auto loan, and then 3 collections that I am planning to address this year.

 

Should I write letters to the original creditors to ask them to remove things? Should I just continue to pay off the CAs? I know PRA will now delete once it’s paid. Are there other letters I should write or steps I should take? I guess I just get confused as far as whether it’s beneficial to actually send all the validation stuff, or whether it’s actually harming my report.

 

Thanks for any advice.


 

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On 3/31/2019 at 9:56 PM, SweaterGirl said:

Hi everyone. I’m trying to repair credit for myself and my husband so we can get a good mortgage hopefully by next summer. We have some dings from job layoffs and not having emergency funds, but I have spent a year and a half getting our budget set up so we have a good buffer and should job loss happen we would still be able to pay our bills for a while. So, credit repair is the next step. I am hoping for some advice. I’ve been trying to do things on my own and I feel like I still am kind of clueless. I sent some verification letters but a mortgage lender told me having those disputed notes on my file is no good.

 

Good? Stuff from my credit report:

  1. Capital One Quicksilver $1500CL, paid on time and utilization under 9%, opened 3/2017

  2. Capital One Quicksilver One $500CL, paid on time and utilization under 9%, opened 11/2017

  3. Comenity store card $610CL, paid on time and currently $98 balance, not sure if I should pay that down more - I hate to keep buying stuff and I want it to report, opened 10/2017
    Self Lender that was paid off in 2/2019 so now it reports as closed

  4. Capital One auto loan, balance around $14,500, paid on time, opened 12/2018

  5. All of my student loans report paid on time.

 

The bad stuff from my credit report:

  1. Credit One chargeoff, reporting $0 balance, DOFD 1/1/2015 - I paid the CA for this one, both OC and CA are still showing right now (just paid it off for a settlement amount this month)

  2. Old Navy paid for less than full balance and closed in July 2013, reports past due through end of 2013. It says “account paid for less than full balance”. Not sure DOFD.

  3. Kohls chargeoff, DOFD 4/2013

  4. Barclays chargeoff, reporting $0 balance, DOFD 2/2015, paid the CA for this one as well - both OC and CA report, similar to the Credit One account above. This also says “consumer disputes after resolution”.

  5. First Investors auto reposession 8/2015. Reports $0 balance.

  6. PRA $999 old Cap One card, DOFD 3/2015

  7. Midland for Barclay, paid for less than full amount, CR has not updated yet

  8. Midland for Credit One, paid for less than full amount, CR Has not updated yet

  9. Penn Credit electric bill collection, placed 4/2016, planning to pay this week

  10. Professional Debt Mediation collection, planning to pay in the next few months, placed 2/2015

 

My husband has 2 open, paid on time Cap One cards (newer than mine), the auto loan, and then 3 collections that I am planning to address this year.

 

Should I write letters to the original creditors to ask them to remove things? Should I just continue to pay off the CAs? I know PRA will now delete once it’s paid. Are there other letters I should write or steps I should take? I guess I just get confused as far as whether it’s beneficial to actually send all the validation stuff, or whether it’s actually harming my report.

 

Thanks for any advice.


 

 

Ok, a lot of things in your situation are above my head, but there is one thing I noticed.  

 

When you pay the collection agencies, do you negotiate a pay-for-delete?  

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