New here - seeking guidance

[diggingout1]

Hi all,

Well ..... I've stopped hiding my head in the sand and I'm ready to tackle my credit repair project. However, I've got a couple of questions and hoped to glean some guidance from the experienced.

1) Cap1 card with $1100 balance ($500 limit), 120 days past due. I have the funds to pay this, but what should my plan of action be?

2) Closed accounts (mostly medical), some listed as "Paid Collection, Open" and some as Unpaid (with very minimal balances that I am able to pay now).

Where (and how) should I begin?

Thanks in advance!

[Trish]

For the Cap 1 acct, if it hasn't been charged off.. call them up and let them know your situation and you are able to pay but want to see if there is any way to negotiate the way it is reporting on your CRs.
If the CSR you talk to is not helpful......ask to talk to a manager.....and climb up the ladder. Someone might have the power to change this. It may be frustrating and try not to get too upset but lates are a b*tch to get removed.
You can also try disputing them with the CRAs.
Most importantly don't let it get charged off. That will look 10 times worse on your CR and drop your score even more.

For the medical debts, read here....
Medical collections/HIPAA process

HTH

[diggingout1]

Thanks, Trish.

I took your advice and called Cap1. We set up a "hardship" arrangement (interest free) and I will have the debt paid in full after Feb 15. Any suggestions on how to go about removing the "late pay" activity after the debt is paid? Should I try a Goodwill letter?

Also, my father (score=800+) has agreed to add me as an authorized user on a couple of his cards (with high limit, low balance, long history). In addition, I sent out the first round of dispute letters on my collection accounts.

This board is a wealth of information. Thanks to everyone who participates!!

[Trish]

Good deal on the hardship program! I knew some companies did that but didn't know Cap 1 was one of them.
For the lates......yes, a gw letter may work. It's worth a try. You can also try disputing as never late with the CRAs.

It is going to help you tremendously to be on your father's card as an AU. It's great you have someone with great credit willing to help you out.

Keep up the good work! :2thumbsup: And keep us posted on your progress!