Here's the scoop - Had good credit until about 5 yrs ago when I was diagnosed with bipolar. Worked VERY part-time for 4 yrs and was off last ALL last year. Things didn't get paid. Everything is charged off on my credit report, except for 2 current Visa/MC. Hubby's credit sucks now, too, because of this. There are medical bills in collection, house payment 4 mos late, car payment 3 mos late. I NEED CREDIT REPAIR!!! I just ordered all credit reports for both of us because we were turned down for a refinance. DH's TU is 403. I WANT MORE! How do I start to fix the damage that has been done? Please, help!
This isn't the solution for everyone, but for me when I was in really bad financial distress I filed bankruptcy. That was only 3 years ago (about that) and since then I have been able to obtain several car loans, new credit cards, a personal signature loan and I am in the process of refinancing my house. I was even able to co-sign for my daughter to get a car. For me, it was the best thing I did....but like I said, it isn't the solution for everyone. And contrary to popular beliefs, with filing bankruptcy, you can still obtain new credit. Sometimes it is easier because the creditors look at the fact that you can only file once every so many years, plus you no longer have all that debt hanging over your head. It really is a fresh start.
Sorry to hear this! QUOTE]Originally posted by pammywammy Everything is charged off on my credit report, except for 2 current Visa/MC. Hubby's credit sucks now, too, because of this. There are medical bills in collection, house payment 4 mos late, car payment 3 mos late.[/QUOTE] 1. Order reports and begin disputing (Not mine). Try to keep the VI/MC cards. If you think you cannot make the minimum payment, give them a call. 2. Once you get reports, send validation letters to the collection agencies. 3. Medical bills - check and make sure that the insurance was not filed improperly. Took me from delivering my son 11/99 to being preg with my daughter 01/01 to get the bill paid. Any others dispute. 4. Regarding other collections, send a cease and desist letter no home or husband's job calls. 5. Maybe you should (as suggested in the other post) change your fone number to non-pub, just so that you can start to get a grip on all of this. Also, get the Radio-Shack zapper, just in case. So the fone company won't charge you for the change, "I am getting so many fax tones, I am about to go nuts." 6. House note - are you working with someone in the LOSS MITIGATION department? Have you worked out a repayment plan? Did you request forebearance? Also, what's your interest rate on the loan? 9 - 10% is considered predatory. Try not to keep going from loan ofcr to loan ofcr until you get a handle on this. Just ruins your scores. They will sell you their sweat to try to get the loan closed. 7. Car note - ask for an extension or forebearance here as well Faith and patience will get you back on top. Hope this helps you out a bit. I do not consider my self any authority by any means. I welcome any others to help Pammy out here. Good luck
I can keep my Visa and MC - the limits are VERY low, so it's no problem. I want to at least have those good things on my report. I have already printed out a copy of the cease and desist letters so I can send those out. I never thought of changing my phone number, duh! I'm going to look into the zapper first, though. I already have enough on my phone bill - I do transcription long distance over the phone 8 hrs/day! As for the house note - we have a payment plan arranged with them. We're making 2-1/2 payments this month and next month (and made 2-1/2 last month), so a/o Feb, we'll be up to date again. We have an FHA loan at 7.5% - no too terrible. When we were turned down for the refinance, we quit. It wasn't worth the higher interest rate or the inquiries on the credit report. We'll be caught up in a couple mos, we just wanted it to happen sooner. Thanks for the help!
The care note is behind 2 payments. We're paying one next week (Dec) and then the other two (Jan and Feb) next month.
