Fixing credit journey

[needbizcredit2006]

I need to fix my credit. It tanked back in 2019. I haven't tried to fix it yet 

 

4 collections with PRA from Synchrony accounts. 

$1800, $4500, $1680, and $1200

 

Midland Collection from Synchrony 4500

 

3 charge offs Navy Fed

 

2 more charge offs with Synchrony $11k and $5k I don't know which debt collector has those two.

 

What do I tackle first? Need some more business equipment and have exhausted the biz credit no pg. I need to start signing for some equipment because I am in a capital intensive business.

 

Fico 9 scores in mid to high 500's

[VintageWillow]

What was the DOFD and what state are you in?

[needbizcredit2006]

Virginia December 2018

[needbizcredit2006]

I have money to pay these debts. Please let me know best way to go. Need this done in 30 days

[Glacier]

With no money to pay, your best hope is that there is something wrong with the way the accounts are reporting, and you write a detailed letter to the CRAs with what is wrong, and hope they get deleted.  This may or may not work, and may or may not occur in 30 days.  You would have to find errors with both the collection agency reporting and the original creditor reporting.  However, a quick google search shows the SOL for Virginia is 5 years, and so writing dispute letters may have unintended consequences.  

[needbizcredit2006]

Haven't done anything with this accounts yet.

 

PRA is will to settle for 50%

Lvnv has Navy accounts now and willing to settle for 30% of balance

Midland is offering 50% Haven't tried to get them down yet.

Then i have 2 synchrony COs totaling $22k.

Do I settle with synchrony or wait for it to go to JDB?

[Aglet]

Hi Needbiz!

 

If you can afford to settle with PRA, their policy is to remove their collections notations from your reports. In my experience, it was in the next reporting cycle, pretty quick. That would be four in one fell swoop.

 

Xo, Ag

[needbizcredit2006]

Yes I think I'm going to settle all 8 collections in next couple of days. The two synchrony charge offs that are reporting the balances is hurting my utilization. Both reporting $11k each. Those are not with a collection company currently.

[needbizcredit2006]

Talk to synchrony about CO looks like they will settle for 35% but will not delete account just update it.