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Hello I am in need of help. I have 16 total collections(13 are medical and 3 are from charge offs which are Fingerhut,Gettington and Credit One bank). I have 2 auto loans and a Conns acct. On my auto loans I have several late payments(all 30-59 day lates). I have sent goodwill letters to the auto loans to try to get lates removed. I have disputed all the collections and charge offs and waiting to hear back. I just setup a self lender acct and got a Discover secured CC. Anything else I should do to raise my credit?



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My first question to you is aside from trying to build credit again, have you put a financial plan in place?


Has the situation changed today vs where you were months or even a few years ago that landed your credit report in the hot seat it is in today?


The credit accounts you have listed are predatory vultures imho. Why were you enticed by expensive forms of credit that bring no benefit to you?


Are the auto loans predatory? Or subprime? Depending on the age of the loan, 1-2% was not hard to achieve 3-5 years ago. If they are 10,12,15+%, I would look at paying them off ASAP or selling them if you are not to upside down.


I would focus more more on making sure my overall financial health and plan are in order than rushing out to get more credit.

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I had 5 surgeries and a heart attack in 2 years which affected all of this. I have the income now I just don’t know what to pay. Do I pay off all the collections? I am trying to rebuild and that is why I need advice. I have to get a vehicle in Sept bc my lease ends. My auto loan is GM Flinancial



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I’m glad you’re doing better!


What is the DOFD on the original accounts that are now in collection?


What is the SOL in the state you reside?


A paid collection is just that, a collection that will report paid. Some new FICO models ignore paid collections but typically for scoring other than general consumer credit.


You can pay them but it won’t help you. You need them to go away. If they are old, maybe you can settle for less and negotiate a PFD. Get any agreement in writing first though. I would

not try anything until you get a plan in place.


ScumOne, I mean CreditOne is difficult to make go away, they get off on shitting up your CR. I’ve seen people do it but I don’t have any experience with them or GettingFingered.


Do you have your original agreements with them? 

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I would set up another secured card with as large a limit as you can swing.  Make sure it is with a card that will graduate to unsecured like BoA or a good CU.  Another option is to go with a CU that does secured loan and CCs.  Take out a secured loan (for say $1,000 which will require a $1,000 deposit), then use the funds to open a secured CC.  This way you get 2 positive trade lines for one deposit.  You need another revolver though as installment loans on their own do little to help FICO scores.

As I mentioned in your question in the auto thread, your best bet is to buy a reliable car you can drive for a couple of years for a few thousand dollars that you pay cash for.  Any auto loan you try to get with those scores will likely be at predatory rates.  This will give you ample time to build an emergency fund, repair and rebuild your credit and be in a position to get a loan at a reasonable rate.


Echo Disco's advice on the collections.

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23 hours ago, beachdreaming777 said:

Anything else I should do to raise my credit?

May sound obvious, but pay every bill on time every month for the rest of your life.


The best defense against an unexpected event making this difficult is a healthy savings account.


Edited by cv91915
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  • 4 months later...

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