Ok. So I am 26 years old. When I was younger I got a few department store cards and kept them up. Everything was going great and a few years later I got a credit card with Wachovia with a 5k limit. I met my now husband and we made a few mistakes. I applied for various cards capital one first premeir and orchard bank and got approved for 2 of each. I also had a citiflex line of credit that totaled 11,600. My husband and I both lost our jobs and had to let all of the dept store cards and credit cards and lines of credit go in order to pay rent and keep the lights on and keep ourselves fed. Now I have a total of 15 deliquent accounts on my credit report. Haven't made a payment to any of them since 2008. We are financially stable now but I don't know where to begin as far as rebuilding our credit. The only good thing on my credit report right now is a car loan that I got in August of last year and a personal loan that I somehow kept paid during all of this. I recently got a second car loan that should appear on my credit sometime soon and student loans that are currently defferred until I graduate and also a small fingerhut freshstart credit account that just started reporting in February. What else do I need to do to improve my credit. All my debts are valid. Should I just let them sit. Quite a few are on my report twice sometimes 3 or 4 times due to the original creditor and it being sold to various credit collection agencies. Advice welcome. As of now I'm a little overwhelmed. I have one judgement against me from Captial One I believe, for 1000.00. Any advice appreciated.
Welcome to Creditnet. It sounds like you have some current loans (auto/personal) that are reporting positively. The best thing you can do with them at this point is to simply keep paying on time. The FICO scoring model likes to see the reestablishment of positive payment history following past payment problems. As far as your credit reports go, you're going to really need to dig in and start cleaning things up. Have you pulled all three of your credit reports to compare all the delinquent accounts? What CAs are in contact with you already? Give us some more info. and we'll do our best to help you develop a strategy. Eventually, you may want to think about getting a secured credit card to start building some more positive payment history in terms of revolving credit as well. But first, I think you should focus on cleaning up your credit reports and dealing with those older debts once and for all.
Here's an overview of the bad.....Most of these are only reported by equifax. Account Name: FIRST PREMIER BANK FST PREMIE FST PREMIER Account Number: 517800793656XXXX 517800793656XXXX 51780079XXXX Account Type: Revolving Revolving Revolving Account Status: UnPaid Open UnPaid Monthly Payment: - - - Date Opened: 05/2008 05/2008 05/2008 Balance: $443 $442 $443 Terms: High Balance: - $250 $443 Limit: $250 - $300 Past Due: $443 $442 $443 Payment Status: Chargeoff or Collection 120 Days Late Chargeoff or Collection Comments: Credit Card Profit and loss writeoff VERIZON WIRELESS Experian Equifax TransUnion Account Name: VERIZON WIRELESS VERIZON VERIZON Account Number: 5205647150XXXX 5205647150XXXX 520564XXXX Account Type: Revolving Open Open Account Status: UnPaid Open UnPaid Monthly Payment: - - - Date Opened: 08/2006 08/2006 08/2006 Balance: $1,599 $1,599 $1,599 Terms: 1 High Balance: - $1,599 $1,599 Limit: $1,610 - - Past Due: $1,599 $1,599 $1,599 Payment Status: Chargeoff or Collection 120 Days Late Chargeoff or Collection Comments: Account in dispute - reported by subscriber (FCBA) Account information disputed by customer Telecommunications/Cellular Account information disputed by consumer AAC Experian Equifax TransUnion Account Name: AAC Account Number: WACHOVIA -4143XXXX Account Type: Open Account Status: Open Monthly Payment: - Date Opened: 04/2010 Balance: $7,116 Terms: High Balance: $6,920 Limit: - Past Due: $7,116 Payment Status: 120 Days Late MIDLAND Experian Equifax TransUnion Account Name: MIDLAND Account Number: 853333XXXX Account Type: Open Account Status: Open Monthly Payment: - Date Opened: 12/2009 Balance: $716 Terms: High Balance: $606 Limit: - Past Due: $716 Payment Status: 120 Days Late Comments: MIDLAND Experian Equifax TransUnion Account Name: MIDLAND Account Number: 853298XXXX Account Type: Open Account Status: Open Monthly Payment: - Date Opened: 10/2009 Balance: $1,037 Terms: High Balance: $852 Limit: - Past Due: $1,037 Payment Status: 120 Days Late Comments: PORTFOLIO Experian Equifax TransUnion Account Name: PORTFOLIO Account Number: CAPIT-7805724683XXXX Account Type: Open Account Status: Open Monthly Payment: - Date Opened: 01/2009 Balance: $1,316 Terms: High Balance: $1,128 Limit: - Past Due: $1,316 Payment Status: 120 Days Late Comments: AAC Experian Equifax TransUnion Account Name: AAC Account Number: REEDS JEW-3871XXXX Account Type: Open Account Status: Open Monthly Payment: - Date Opened: 12/2008 Balance: $2,839 Terms: High Balance: $2,316 Limit: - Past Due: $2,839 Payment Status: 120 Days Late AAC Experian Equifax TransUnion Account Name: AAC Account Number: MAURICES -3871XXXX Account Type: Open Account Status: Open Monthly Payment: - Date Opened: 12/2008 Balance: $636 Terms: High Balance: $518 Limit: - Past Due: $636 Payment Status: 120 Days Late AAC Experian Equifax TransUnion Account Name: AAC Account Number: ABERCROMB-3870XXXX Account Type: Open Account Status: Open Monthly Payment: - Date Opened: 12/2008 Balance: $499 Terms: High Balance: $407 Limit: - Past Due: $499 Payment Status: 120 Days Late AAC Experian Equifax TransUnion Account Name: AAC Account Number: VICTORIAS-3870XXXX Account Type: Open Account Status: Open Monthly Payment: - Date Opened: 12/2008 Balance: $306 Terms: High Balance: $249 Limit: - Past Due: $306 Payment Status: 120 Days Late WFNNB/REEDS JEWELERS Experian Equifax TransUnion Account Name: WFNNB/REEDS JEWELERS REEDS WFNNB/REED'S Account Number: 90XXXX 90XXXX 90XXXX Account Type: Revolving Revolving Revolving Account Status: Transferred Transferred Transferred Monthly Payment: - - - Date Opened: 09/2007 09/2007 09/2007 Balance: - $0 $0 Terms: High Balance: $2,300 $1,980 $2,300 Limit: $1,980 - $1,980 Past Due: - - $0 Payment Status: Current Current Current CAP ONE Experian Equifax TransUnion Account Name: CAP ONE CAP ONE CAP ONE Account Number: 51780572XXXX 51780572XXXX 51780572XXXX Account Type: Revolving Revolving Revolving Account Status: Transferred Transferred Transferred Monthly Payment: - - - Date Opened: 08/2007 08/2007 08/2007 Balance: - $0 $0 Terms: High Balance: - $500 $1,112 Limit: $500 - $500 Past Due: - - $0 Payment Status: Chargeoff or Collection Chargeoff or Collection Chargeoff or Collection GEMB/BELK Experian Equifax TransUnion Account Name: GEMB/BELK GEMB/BELK Account Number: 60458315XXXX 60458315XXXX Account Type: Revolving Revolving Account Status: Transferred Transferred Monthly Payment: - - Date Opened: 04/2007 04/2007 Balance: $0 $0 Terms: High Balance: $1,489 $460 Limit: - $500 Past Due: - $0 Payment Status: Chargeoff or Collection Chargeoff or Collection Comments: Charge Account Purchased by another lender HSBC BANK Experian Equifax TransUnion Account Name: HSBC BANK HSBC BANK HSBC BANK Account Number: 515599000360XXXX 99000360XXXX 51559900XXXX Account Type: Revolving Revolving Revolving Account Status: Closed Transferred Transferred Monthly Payment: - $0 - Date Opened: 03/2007 03/2007 03/2007 Balance: - $0 $0 Terms: High Balance: - $300 $605 Limit: $300 - $0 Past Due: - - $0 Payment Status: Chargeoff or Collection Chargeoff or Collection Chargeoff or Collection Comments: Account in dispute - reported by subscriber (FCBA) Account information disputed by customer Sold To: MIDLAND Credit Card Purchased by another lender WFNNB/ABRECROMBIE FITC Experian Equifax TransUnion Account Name: WFNNB/ABRECROMBIE FITC WFNNB/ABRCRM Account Number: 8XXXX 8044044780440XXXX Account Type: Revolving Revolving Account Status: Transferred Transferred Monthly Payment: - - Date Opened: 12/2006 12/2006 Balance: - $0 Terms: High Balance: $404 $404 Limit: $110 $110 Past Due: - $0 Payment Status: Current Chargeoff or Collection Comments: Account transferred to another lender Purchased by another lender Charge Account Purchased by another lender WFNNB/AF Experian Equifax TransUnion Account Name: WFNNB/AF Account Number: 20183680440XXXX Account Type: Revolving Account Status: Transferred Monthly Payment: - Date Opened: 12/2006 Balance: $0 Terms: High Balance: $110 Limit: - Past Due: - Payment Status: Current Comments: WF CARD/WB Experian Equifax TransUnion Account Name: WF CARD/WB WFB CARD WF CARD/WB Account Number: 431243117381XXXX 431243117381XXXX 43124311XXXX Account Type: Revolving Revolving Revolving Account Status: Closed Transferred Closed Monthly Payment: - $0 - Date Opened: 10/2006 10/2006 10/2006 Balance: - $0 $0 Terms: High Balance: - $4,600 $0 Limit: $4,600 - $4,600 Past Due: - - $0 Payment Status: Chargeoff or Collection Chargeoff or Collection Chargeoff or Collection Comments: Account closed at consumers request Credit Card Account closed by consumer
WFNNB/MAURICES Experian Equifax TransUnion Account Name: WFNNB/MAURICES WFNNB/MAUR MAURICES Account Number: 85XXXX 85XXXX 85XXXX Account Type: Revolving Revolving Revolving Account Status: Transferred Transferred Transferred Monthly Payment: - - - Date Opened: 05/2006 05/2006 05/2006 Balance: - $0 $0 Terms: High Balance: $516 $100 $516 Limit: $100 - $100 Past Due: - - $0 Payment Status: Current Current Current Comments: Account transferred to another lender Purchased by another lender Charge Account Purchased by another lender GEMB/BELK Experian Equifax TransUnion Account Name: GEMB/BELK Account Number: 604583150129XXXX Account Type: Revolving Account Status: Transferred Monthly Payment: - Date Opened: 03/2006 Balance: - Terms: High Balance: $1,489 Limit: - Past Due: - Payment Status: Current Comments: Account transferred to another lender Purchased by another lender WFNNB/VICTORIAS SECRET Experian Equifax TransUnion Account Name: WFNNB/VICTORIAS SECRET WFNNB/VS WFNNB/VCTRIA Account Number: 8XXXX 20163089954XXXX 7039498189954XXXX Account Type: Revolving Revolving Revolving Account Status: Transferred Transferred Transferred Monthly Payment: - - - Date Opened: 01/2006 01/2006 01/2006 Balance: - $0 $0 Terms: High Balance: $248 $100 $248 Limit: $100 - $100 Past Due: - - $0 Payment Status: Current Current Current Comments: Account transferred to another lender Purchased by another lender Charge Account Purchased by another lender GEMB/AMER EAGLE Experian Equifax TransUnion Account Name: GEMB/AMER EAGLE GEMB/AMERI GEMB/AMEAGLE Account Number: 604410054130XXXX 60441005XXXX 60441005XXXX Account Type: Revolving Revolving Revolving Account Status: Transferred Transferred Transferred Monthly Payment: - $0 - Date Opened: 09/2004 09/2004 09/2004 Balance: - $0 $0 Terms: High Balance: - $197 $54 Limit: - - $125 Past Due: - - $0 Payment Status: Chargeoff or Collection Chargeoff or Collection Chargeoff or Collection Comments: Account transferred to another lender Purchased by another lender Charge Account Purchased by another lender CAP ONE Experian Equifax TransUnion Account Name: CAP ONE CAP ONE CAP ONE Account Number: 51780572XXXX 51780572XXXX 51780572XXXX Account Type: Revolving Revolving Revolving Account Status: Closed Closed Closed Monthly Payment: - - - Date Opened: 10/2007 10/2007 10/2007 Balance: $924 $914 $924 Terms: High Balance: - $672 $672 Limit: $300 - $300 Past Due: $924 $914 $924 Payment Status: 150 Days Late Chargeoff or Collection Chargeoff or Collection Comments: Closed due to Inactivity Credit Card Canceled by credit grantor CITI FLEX Experian Equifax TransUnion Account Name: CITI FLEX CITIFLEX CITI FLEX Account Number: 751079003632XXXX 751079003632XXXX 75107900XXXX Account Type: Revolving Revolving Line Of Credit Account Status: Closed UnPaid UnPaid Monthly Payment: - $10,738 - Date Opened: 03/2007 03/2007 03/2007 Balance: $10,738 $10,738 $10,738 Terms: High Balance: $10,738 $11,000 $0 Limit: $11,000 - $11,000 Past Due: $7,147 $7,147 $7,147 Payment Status: 150 Days Late Chargeoff or Collection Chargeoff or Collection Comments: Account closed at consumers request Account closed at consumer's request and in dispute Line of Credit Dispute of account information/closed by consumer ALLIED INT Experian Equifax TransUnion Account Name: ALLIED INT Account Number: 1725XXXX Account Type: Open Account Status: Monthly Payment: - Date Opened: 08/2010 Balance: $513 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection Comments: Placed for collection ASSET ACCEPTANCE LLC Experian Equifax TransUnion Account Name: ASSET ACCEPTANCE LLC ASSET ACCEPT Account Number: 3871XXXX 3871XXXX Account Type: Installment Open Account Status: Monthly Payment: - - Date Opened: 12/2008 12/2008 Balance: $2,839 $2,839 Terms: High Balance: - - Limit: - - Past Due: $2,839 - Payment Status: Chargeoff or Collection Chargeoff or Collection Comments: Account in dispute - reported by subscriber (FCBA) Account information disputed by customer Account information disputed by consumer ASSET ACCEPTANCE LLC Experian Equifax TransUnion Account Name: ASSET ACCEPTANCE LLC ASSET ACCEPT Account Number: 3871XXXX 3871XXXX Account Type: Installment Open Account Status: Monthly Payment: - - Date Opened: 12/2008 12/2008 Balance: $636 $636 Terms: High Balance: - - Limit: - - Past Due: $636 - Payment Status: Chargeoff or Collection Chargeoff or Collection Comments: Account in dispute - reported by subscriber (FCBA) Account information disputed by customer Account information disputed by consumer ASSET ACCEPTANCE LLC Experian Equifax TransUnion Account Name: ASSET ACCEPTANCE LLC ASSET ACCEPT Account Number: 3870XXXX 3870XXXX Account Type: Installment Open Account Status: Monthly Payment: - - Date Opened: 12/2008 12/2008 Balance: $499 $499 Terms: High Balance: - - Limit: - - Past Due: $499 - Payment Status: Chargeoff or Collection Chargeoff or Collection Comments: Account in dispute - reported by subscriber (FCBA) Account information disputed by customer Account information disputed by consumer
CREDIT MANAGEMENT LP Experian Equifax TransUnion Account Name: CREDIT MANAGEMENT LP CREDIT MGMT Account Number: 4219XXXX 4219XXXX Account Type: Installment Open Account Status: Monthly Payment: - - Date Opened: 12/2009 12/2009 Balance: $88 $88 Terms: High Balance: - - Limit: - - Past Due: $88 - Payment Status: Chargeoff or Collection Chargeoff or Collection Comments: Placed for collection M A R C INC Experian Equifax TransUnion Account Name: M A R C INC MARC Account Number: 246XXXX 246XXXX Account Type: Installment Open Account Status: Monthly Payment: - - Date Opened: 02/2010 02/2010 Balance: $315 $315 Terms: High Balance: - - Limit: - - Past Due: $315 - Payment Status: Chargeoff or Collection Chargeoff or Collection Comments: Placed for collection MIDLAND CREDIT MGMT Experian Equifax TransUnion Account Name: MIDLAND CREDIT MGMT MIDLAND CRED Account Number: 853298XXXX 853298XXXX Account Type: Installment Open Account Status: Monthly Payment: - - Date Opened: 10/2009 10/2009 Balance: - $1,037 Terms: High Balance: - - Limit: - - Past Due: - - Payment Status: No Data Provided Chargeoff or Collection Comments: Account in dispute - reported by subscriber (FCBA) Account in dispute - reported by subscriber (FCBA) Account information disputed by consumer MIDLAND CREDIT MGMT Experian Equifax TransUnion Account Name: MIDLAND CREDIT MGMT MIDLAND CRED Account Number: 853333XXXX 853333XXXX Account Type: Installment Open Account Status: Monthly Payment: - - Date Opened: 12/2009 12/2009 Balance: - $716 Terms: High Balance: - - Limit: - - Past Due: - - Payment Status: No Data Provided Chargeoff or Collection Comments: Account in dispute - reported by subscriber (FCBA) Account in dispute - reported by subscriber (FCBA) Account information disputed by consumer PAYMENT AMER Experian Equifax TransUnion Account Name: PAYMENT AMER Account Number: 1711XXXX Account Type: Open Account Status: Monthly Payment: - Date Opened: 03/2008 Balance: $786 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection Comments: Placed for collection PMAB SRVC Experian Equifax TransUnion Account Name: PMAB LLC PMAB SRVC Account Number: 474XXXX 474XXXX Account Type: Installment Open Account Status: Monthly Payment: - - Date Opened: 06/2010 06/2010 Balance: $567 $567 Terms: High Balance: - - Limit: - - Past Due: $567 - Payment Status: Chargeoff or Collection Chargeoff or Collection Comments: Placed for collection PORTFOLIO RECVRY&AFFIL Experian Equifax TransUnion Account Name: PORTFOLIO RECVRY&AFFIL PORTFOLIO RC Account Number: 517805724683XXXX 517805724683XXXX Account Type: Installment Open Account Status: Monthly Payment: - - Date Opened: 01/2009 01/2009 Balance: $1,316 $1,309 Terms: High Balance: - - Limit: - - Past Due: $1,316 - Payment Status: Chargeoff or Collection Chargeoff or Collection Comments: Account in dispute - reported by subscriber (FCBA) Account information disputed by customer Account information disputed by consumer RECEIVABLES PERFORMANC Experian Equifax TransUnion Account Name: RECEIVABLES PERFORMANC RCVL PER MNG Account Number: 2298XXXX 2298XXXX Account Type: Installment Open Account Status: Monthly Payment: - - Date Opened: 01/2010 01/2010 Balance: $449 $449 Terms: High Balance: - - Limit: - - Past Due: $449 - Payment Status: Chargeoff or Collection Chargeoff or Collection Comments: Placed for collection STUART ALLAN & ASSOC Experian Equifax TransUnion Account Name: STUART ALLAN & ASSOC STUART ALLAN Account Number: 905086000237XXXX 905086000237XXXX Account Type: Installment Open Account Status: Monthly Payment: - - Date Opened: 08/2009 08/2009 Balance: $1,303 $1,303 Terms: High Balance: - - Limit: - - Past Due: $1,303 - Payment Status: Chargeoff or Collection Chargeoff or Collection Comments: Placed for collection ASSET ACCEPTANCE LLC Experian Equifax TransUnion Account Name: ASSET ACCEPTANCE LLC ASSET ACCEPT Account Number: 3870XXXX 3870XXXX Account Type: Installment Open Account Status: Monthly Payment: - - Date Opened: 12/2008 12/2008 Balance: $306 $306 Terms: High Balance: - - Limit: - - Past Due: $306 - Payment Status: Chargeoff or Collection Chargeoff or Collection Comments: Account in dispute - reported by subscriber (FCBA) Account information disputed by customer Account information disputed by consumer Collection (372YC00581) Experian Equifax TransUnion Account Name: Collection (372YC00581) Account Number: 1725XXXX Account Type: Account Status: Monthly Payment: - Date Opened: 10/2010 Balance: $513 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection Comments: Collection (623YC06343) Experian Equifax TransUnion Account Name: Collection (623YC06343) Account Number: 51398XXXX Account Type: Account Status: Monthly Payment: - Date Opened: 07/2009 Balance: $449 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection Comments: Collection (665YC00000) Experian Equifax TransUnion Account Name: Collection (665YC00000) Account Number: 3337XXXX Account Type: Account Status: Monthly Payment: - Date Opened: 06/2009 Balance: $396 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection Comments: Collection (682YC05551) Experian Equifax TransUnion Account Name: Collection (682YC05551) Account Number: 4219XXXX Account Type: Account Status: Monthly Payment: - Date Opened: 07/2010 Balance: $88 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection Comments: Collection (701YC32920) Experian Equifax TransUnion Account Name: Collection (701YC32920) Account Number: 2298XXXX Account Type: Account Status: Monthly Payment: - Date Opened: 02/2010 Balance: $449 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection Comments: Collection (772YC00000) Experian Equifax TransUnion Account Name: Collection (772YC00000) Account Number: 1711XXXX Account Type: Account Status: Monthly Payment: - Date Opened: 06/2008 Balance: $786 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection Comments: Collection (805YC00000) Experian Equifax TransUnion Account Name: Collection (805YC00000) Account Number: 474XXXX Account Type: Account Status: Monthly Payment: - Date Opened: 08/2010 Balance: $567 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection Comments: Collection (805YC85165) Experian Equifax TransUnion Account Name: Collection (805YC85165) Account Number: 246XXXX Account Type: Account Status: Monthly Payment: - Date Opened: 07/2010 Balance: $315 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection Comments: The last little bit........it's a lot I know......My Credit report looks aweful. Collection (973YC00000) Experian Equifax TransUnion Account Name: Collection (973YC00000) Account Number: 250XXXX Account Type: Account Status: Monthly Payment: - Date Opened: 05/2008 Balance: $170 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection
Wow, it's hard to believe that no one has been in contact with you yet. Have you moved recently? You've got a lot of work in front of you, but the good thing is that you're young. You've got plenty of time to get your credit scores back in good shape. What kind of income do you have on a monthly basis to put towards paying off these debts?
By my calculations, you have more than $30,000 in charged-off debt, an amount which will surely grow over time as interest, penalties, and maybe attorney's fees are added on. Depending on your income and (expected) job security, you may be better off to file for bankruptcy, dump your debts, and save your money going forward, rather than throw it away on pre-existing bad debts. Paying off debts that have already been charged-off will NOT improve your credit rating in any meaningful way, and certainly won't qualify you to buy a house--or anything else which requires good credit--in the near future. You would be much better off to put that money towards your "rainy day fund", retirement savings, and so on. After bankruptcy, you will be able to do that, without the fear that some overly litigous junk debt buyer (such as Asset Acceptance LLC) might sue you, get judgement, and empty your bank accounts.
