Hi all! I need some help and guidance here! I admit, I have been a fool and plain stupid not taking care of these earlier but today my amex was canceled automatically! I use to have great credit history (790!) but then i messed up last 2 yrs .. need some directions from the masters on how to get min impact, my mortgage ARM is going to expire in 2010 and this is going to hurt us real bad i'm gussing 1 & 2) Chase - I had opened the card earlier this yr and defaulted (i know i know im kicking my ass myself!) .. for some reason this shows up twice (or maybe its another chase card?) 3) Citi card - this one is pretty old - they had some charges on it that i didn't agree to (canceled memebership but they kept on charging) - now i have gotten collection notices for it 4) Discover - had collection on this in 2006 and settled with the CA (paid 80%) 5) Mortgage - one time issue with payment due to ACH issue .. > 30 days late - otherwise its been always on time 6) US Bank - To my knowledge, I have never opened this account I'm attaching the negative portion of the CR . any help will be appreciated. In particular I have the following questions 1) For Chase & Citi - I'm willing to pay off what is needed - is there any way to get it removed from CR? 2) For Discover - it was settled - is there anything I can do to get it removed from CR or have to wait 6 yrs? 3) Mortgage - how can i resolve the one time delay in payment or i have to live with it for 7 yrs? Appreciate any help and am open to all the suggestions! Thanks Scott ----------------------- 1) CHASE Status: Account charged off/Past due 180 days. $6,068 written off. $1,631 past due as of Nov 2007. Status Details: This account is scheduled to continue on record until Feb 2014. Date Opened: 01/2007 Type: Revolving Reported Since: 02/2007 Terms: NA Date of Status: 11/2007 Monthly Payment: $0 Last Reported: 11/2007 Responsibility: Individual Credit Limit/Original Amount: $5,000 High Balance: $6,068 Recent Balance: $6,068 as of 11/2007 Recent Payment: $0 Creditor's statement: Account closed at credit grantor's request. Account History: Charge Off as of Nov 2007 180 days as of Oct 2007 2) CHASE Status: Open/Current, was past due 30 days. Status Details: As of Mar 2014, this account is scheduled to go to a positive status. Date Opened: 03/2006 Type: Revolving Reported Since: 04/2006 Terms: 1 Months Credit Limit/Original Amount: NA High Balance: $78 Date of Status: 07/2007 Monthly Payment: $16 Last Reported: 11/2007 Responsibility: Individual Recent Balance: $0 as of 11/2007 Recent Payment: $0 Account History: 30 days as of Jun 2007 3) CITI Status: Account charged off/Past due 150 days. $248 written off. $342 past due as of Nov 2007. Status Details: This account is scheduled to continue on record until Mar 2013. Date Opened: 11/1997 Type: Revolving Reported Since: 03/2003 Terms: NA Date of Status: 10/2006 Monthly Payment: $0 Last Reported: 11/2007 Responsibility: Individual Credit Limit/Original Amount: $300 High Balance: $1,015 Recent Balance: $352 as of 11/2007 Recent Payment: $0 Creditor's statement: Account closed at credit grantor's request. Account History: Charge Off as of Nov 2007, Oct 2007, Sep 2007, Aug 2007, Jul 2007, Jun 2007, May 2007, Apr 2007, Mar 2007, Feb 2007, Jan 2007, Dec 2006, Nov 2006, Oct 2006 4) DISCOVER FIN SVCS LLC Status: Paid in settlement/Account charged off. $4,156 written off. Status Details: This account is scheduled to continue on record until Sep 2012. Date Opened: 10/1998 Type: Revolving Reported Since: 12/1999 Terms: NA Date of Status: 11/2006 Monthly Payment: $0 Last Reported: 11/2006 Responsibility: Individual Credit Limit/Original Amount: $3,500 High Balance: $4,156 Recent Balance: NA Recent Payment: NA Creditor's statement: Account legally paid in full for less than full balance. Account History: Charge Off as of Jun 2006 to Nov 2006 5) xxx Mortgage** CR UN Status: Open/Current, was past due 30 days. Status Details: As of Jan 2014, this account is scheduled to go to a positive status. Date Opened: **/2005 Type: Mortgage Reported Since: **/2005 Terms: 30 Years Date of Status: 05/2007 Monthly Payment: $2,5** Last Reported: 10/2007 Responsibility: Individual Credit Limit/Original Amount: $300,*** High Balance: NA Recent Balance: $3**,*** as of 10/2007 Recent Payment: $2,5** Account History: 30 days as of Apr 2007 6) U S BANK Status: Account charged off/Past due 150 days. $430 written off. Status Details: This account is scheduled to continue on record until Apr 2013. Date Opened: 01/2006 Type: Revolving Reported Since: 01/2006 Terms: NA Date of Status: 01/2007 Monthly Payment: $0 Last Reported: 11/2007 Responsibility: Individual Credit Limit/Original Amount: $2,500 High Balance: $497 Recent Balance: $447 as of 11/2007 Recent Payment: $0 Account History: Charge Off as of Jan 2007 to Nov 2007 150 days as of Nov 2006
The good news here is that you have some time to work with, as your stated objective is a mortgage refi in 2010. The bad news is the range and depth of the negative accounts on your credit report. I usually do not recommend this, but you may want to consider retaining a true professional credit repair company. I recommend you check out "Apex's" site: http://www.apexcreditservices.com/ I recommend you check this out due to the possibility that you will come ahead both financially and with your reports. Due to the fact that you have open accounts (w/owed amounts), you may get better settlement deals. So, it could be a savings in the big picture. If you choose to handle it yourself, there is a lot of work to do here. I recommend reading the "primers" to start educating yourself, and reading as many posts as you can. Be advised this case could take quite a while to work on, but you do have the time, so that is an advantge. You also are at a point with the Charge Offs where you have time to negotiate, they are recent enough to not go to legal suit quite yet. So, check out a professional service, but do your homework. There are many "bad" repair companies out there, but there are some good ones.
