First of all I just found this site tonight. I've been reading, and reading, and reading, but it's a lot to wrap my mind around. (so sorry for any stupid questions) I went broke and dropped out of society in early 2001. I left behind two large debts, approx $5K to ford credit and $15K to discover card. I lived and worked on a southern farm for almost 5 years (all cash, never a bank account). Moved back to MI in late 05, it took the CA that bought my car debt a couple months to find me. Lots of annoying calls but they haven't tried to sue me yet (why?) I didn't know anything about SOL or items dropping off CR's. I never bothered to check my CR because I assumed my credit was screwed for life. In November 06 I got a CC offer, I couldn't believe it. Horrible terms, but this got me thinking about trying to fix things. I went to FCR.c om. Stupidly, I didn't print the report, but here's the jist- Score 595 Discover- Reported me as 30, 60, 90 days late and quit. ford credit- had good reports dating from 95-97, nothing since I defaulted. Then it gets weird, there's 8 or 9 smaller items ($200-$1200) on there and I have no idea what they are, and they're still reporting something. Here's my questions- 1) I'm guessing the discover card will drop off in early 08, will this huge amount dropping off help my score a lot? 2) I decided to get the crappy CC for credit repair. good idea? Should I try to get a couple more? 3) Could the unknown charges all be for the car? Will all this stuff drop off on it's own? Am I screwed? Any advice is welcomed
Yes. Actually, while it certainly isn't great there a lot of people who have a few credit cards and scores lower than yours. Orchard issues cards to scores lower than yours but I don't know how much lower they will go. Like Crap one, Orchard sucks too.
