A little credit repair help needed, I'm lost

[zyal8trr]

Okay, here's the deal...

My credit scores are as follows, 577 Trans, 521 Exp and 585 Exp as of today.

I made some mistakes when I was younger and now am suffering for them, trying to remove the bad items so I can move on with my life, I'm 27 now.

Background
I have a school loan that I consolidated that I have currently been paying for 1 years no late payments.

I had an auto loan for over a year, was paid off in full, but had a couple late of late payments.

I have 6 total charge offs sitting on my credit, most are set to drop in 2010, I can't wait that long.

I have one Judgement Public record, with Transunion and Equifax only, I disputed with Experian and they deleted it! Still waiting on Transunion and Equifax.

I have a bunch of late payments from school loans several years back, but they have all been paid in full since I consolidated.

I have one collection agency after me for $392 dollars, I am trying to settle and negiotiate removal from my credit history for the full amount.

As of right now, I have no open credit cards. I'm too afraid to apply for one since my credit score is crap and my history is terrible. I don't want to add another negative item by applying and then being turned down.

Really the only debt I have is my school loan($34,000, the $392 I owe to the collection agency, and the $3000 I owe from the judgement.

I'm doing my best to get these items deleted by the creditors verify the account is mine etc etc...and won't report to the credit bureaus to delete it. I don't know what else to do at this point. I want to remove this old junk and start re-building my credit now, with at least a credit card, I just don't know which one. Any info/tips/comments are greatly appreciated, thanks!

[94B]

Originally Posted by zyal8trr

Okay, here's the deal...

My credit scores are as follows, 577 Trans, 521 Exp and 585 Exp as of today.

Are these your actual FICO scores?

Originally Posted by zyal8trr

I had an auto loan for over a year, was paid off in full, but had a couple late of late payments.

Are the lates accurately reporting?

If yes, you may want to try a goodwill letter to the OC preferably to someone in the position to do something like the CEO. It is basically a letter begging for forgiveness with an explanation as to why you were late (lost job, illness,etc.)and asking that the late notations be removed from your credit report as a goodwill gesture. I would try this route first.

If not then you may want to dispute the lates with the CRA's. Just wanted to add however that if you decide to dispute this account the whole entire TL maybe deleted which could cost you some points and I have seen that happen. So if the lates are "old" lates on an older account.....the age of the account may be more "positive" than the lates are negative.

Originally Posted by zyal8trr

I have 6 total charge offs sitting on my credit, most are set to drop in 2010, I can't wait that long.

Can you give us some background on these CO's? If they are set to fall off in 2010, that means you possibly went delinquent in 2003. Are these still within SOL for your State? Are these paid off or not? If not are the amounts hefty? The reason I ask these questions is that sometimes when people start disputing accounts on their CR's they wake a sleeping giant and may find themselves getting sued.

But if you understand all that and are willing to take the chance and "can't wait that long" then you need to do the basics of credit repair FIRST(i.e. opt out, ordering actual hard copies of credit report directly from each individual credit bureau, getting old addresses and other personal information removed,etc..) Once you have done that then you can dispute the accounts. I don't suggest "not mine" disputes unless it truly isn't your account rather look for inaccuracies and dispute as such. Also it is better in my opinion to dispute via snail mail rather than online.

Originally Posted by zyal8trr

I have one Judgement Public record, with Transunion and Equifax only, I disputed with Experian and they deleted it! Still waiting on Transunion and Equifax.

Please keep in mind that once they have the judgment and they can if they choose to come after you for the money.Also they are permitted technically depending on your State to continue to add interest to the amount owed until it's paid. Also if wage garnishment is allowed in your State that may be a route they choose to go along with placing lien on a house(if you own one) and attaching your bank accounts.

The SOL for judgment enforcement varies by State some are 7,10, 20 years and can be renewable. Just something to keep in mind when it comes to judgments.

Originally Posted by zyal8trr

I have a bunch of late payments from school loans several years back, but they have all been paid in full since I consolidated.

Are the lates accurate?

Again you can try a GW(goodwill) letter here. However the same rules don't really apply to SL's as opposed to other debts like credit cards(when it comes to lates). The OC(lender) is REQUIRED by law to report factually and accurately. So if it is accurately reporting you more than likely will get a letter stating that they cannot/will not remove/delete/alter your CR under federal law(which is true) in regards to your GW letter. Just keep that in mind if you decide to go forward with the GW letter.


Not sure how old your lates are, but generally installment loan accounts with older lates don't affect your scores all that much. As I stated earlier you could still dispute the lates if you want to and see if you can get them removed. Just remember you risk losing the entire TL and the history that comes with it which is possibly helping you more than the lates are hurting you.

Originally Posted by zyal8trr

I have one collection agency after me for $392 dollars, I am trying to settle and negiotiate removal from my credit history for the full amount.

Hopefully you have asked for validation of this account prior to working out and PFD(pay for delete). If not you should do so. And WHEN they validate and you are able to work out a PFD, make sure you get everything in writing prior to paying.

Originally Posted by zyal8trr

As of right now, I have no open credit cards. I'm too afraid to apply for one since my credit score is crap and my history is terrible. I don't want to add another negative item by applying and then being turned down.

Well if the scores above are your actual FICO scores then they are fairly low. I have seen people with your scores(not the 521 score) get cards like Orchard, First Premier and of course these cards are associated with initial fees and annual fees. I have also seen people get approved for Target, Walmart,Hooters, gas cards like Chevron and Crown Jewelers starting out. YMMV!

My advice would be to try secured cards since you are also in the middle of credit repair. Try at your local credit union or try looking into places like National City, Elan,etc....

Originally Posted by zyal8trr

I'm doing my best to get these items deleted by the creditors verify the account is mine etc etc...and won't report to the credit bureaus to delete it. I don't know what else to do at this point. I want to remove this old junk and start re-building my credit now, with at least a credit card, I just don't know which one. Any info/tips/comments are greatly appreciated, thanks!

You said your disputes came back verified, how exactly did you dispute. Not mine, via online or what exactly?

Not sure why they would instruct the Credit Bureau's to delete. Are these paid and did you have something in writing saying they would? If not under the law bad debt(i.e CO, collections,etc...) can stay on your CR for 7 years from DOFD(date of first delinquency).

[zyal8trr]

Are these your actual FICO scores?

No, these are from truecredit.com.

Are the lates accurately reporting?

For some reason, I don't see any payment history at all on my truecredit account for the auto loan. Is this something to dispute?

Can you give us some background on these CO's? If they are set to fall off in 2010, that means you possibly went delinquent in 2003. Are these still within SOL for your State? Are these paid off or not? If not are the amounts hefty? The reason I ask these questions is that sometimes when people start disputing accounts on their CR's they wake a sleeping giant and may find themselves getting sued.

The CO's have all been paid off in full. They all went delinquent right around 2003, you're right. I just want to get them removed. I mean, they got their money, it no longer effects them anymore.

Please keep in mind that once they have the judgment and they can if they choose to come after you for the money.Also they are permitted technically depending on your State to continue to add interest to the amount owed until it's paid. Also if wage garnishment is allowed in your State that may be a route they choose to go along with placing lien on a house(if you own one) and attaching your bank accounts.

They have already been garnishing my wages for the last 3 years. I owe about $3000 now. I am making voluntary contributions on my own to bring the amount down.

Are the lates accurate?

Not sure how old your lates are, but generally installment loan accounts with older lates don't affect your scores all that much. As I stated earlier you could still dispute the lates if you want to and see if you can get them removed. Just remember you risk losing the entire TL and the history that comes with it which is possibly helping you more than the lates are hurting you.

The lates are accurate. They are from the summer of 2004.

Hopefully you have asked for validation of this account prior to working out and PFD(pay for delete). If not you should do so. And WHEN they validate and you are able to work out a PFD, make sure you get everything in writing prior to paying.

Account has been validated.

Well if the scores above are your actual FICO scores then they are fairly low. I have seen people with your scores(not the 521 score) get cards like Orchard, First Premier and of course these cards are associated with initial fees and annual fees. I have also seen people get approved for Target, Walmart,Hooters, gas cards like Chevron and Crown Jewelers starting out. YMMV!

Well I had an Orchard back in 2005, but I lost my job and couldn't make payments anymore so they sent it to a collections agency, which is the 392 I still owe mentioned above. Maybe a Premier card would be better for me now? I don't mind paying all the fees for now until my credit gets better, then I can apply for something without fees.

You said your disputes came back verified, how exactly did you dispute. Not mine, via online or what exactly?

I did it online through all 3 credit bureaus. Two old credit card accounts I had deleted but the rest came back verified.


Not sure why they would instruct the Credit Bureau's to delete. Are these paid and did you have something in writing saying they would? If not under the law bad debt(i.e CO, collections,etc...) can stay on your CR for 7 years from DOFD(date of first delinquency).

All the CO's I have are from credit cards I didn't pay on. Example, Bank of America I ran up a 1500 debt. I was making payments and then stopped. It went to a collection agency where I paid it in full months later. Now it sits on my credit hurting me.

Thanks for the help!!!

[94B]

Originally Posted by zyal8trr

No, these are from truecredit.com.

Those scores are known as FAKOS(not real). You can get your actual FICO scores from myfico.com.

Originally Posted by zyal8trr

For some reason, I don't see any payment history at all on my truecredit account for the auto loan. Is this something to dispute? NO not based on the truecredit report

You NEED to order your reports DIRECTLY from TU, EX and EQ initially. This way you can see EXACTLY what is on your reports. Third party/tri-merge reports don't always show all of the details and often are incomplete.

Originally Posted by zyal8trr

The CO's have all been paid off in full. They all went delinquent right around 2003, you're right. I just want to get them removed. I mean, they got their money, it no longer effects them anymore.

Well that doesn't matter to them especially since you paid those accounts after they were COed. And plus without getting a PFD, you have lost your leverage for deletion. Your best bet is to do the basics of credit repair(i.e order your reports directly from the individual credit reports, get old addresses, multiple names, other personal info removed from credit reports,etc). Then look through your reports for inaccuracies and dispute as such. Also dispute via snail mail since generally disputing online makes it too easy for CRA's system to match up a number of data points (Name, SSN,etc.) and come back with "verified".

Originally Posted by zyal8trr

The lates are accurate. They are from the summer of 2004.

Then your best bet is goodwill letter to the OC. Send it to someone in the higher up position. See my previous post about the risk of disputing the lates.

Originally Posted by zyal8trr

I did it online through all 3 credit bureaus. Two old credit card accounts I had deleted but the rest came back verified.

As I stated earlier, dispute via snail mail. Use a different reason other than the one you used the first time. Go through your reports carefully and look for inaccuracies and dispute it as such. Do the basics of credit repair(there is a stickied thread here explaining why)FIRST!

Originally Posted by zyal8trr

All the CO's I have are from credit cards I didn't pay on. Example, Bank of America I ran up a 1500 debt. I was making payments and then stopped. It went to a collection agency where I paid it in full months later. Now it sits on my credit hurting me.

Well since you didn't negotiate a PFD(pay for delete) you pretty much have lost your leverage when it comes to deletion. But that doesn't mean you shouldn't dispute it because I am sure that the paid collection accounts are reporting accurately anyways, collection accounts. Dispute these via snail mail instead of online and don't do not mine disputes. It's difficult to remove paid collections, persistence is going to be key here.