fingers-crossed » Mortgage and Insurance

Need Advice on my Capital One Charge Off

Mar 102011

I have a Capital One charge off that I need to take care of, and just wanted a little advice on how to proceed.

I’m new here, but have read through the boards and it looks like Capital One is a hard one to work with.Â I’m thinking that my best course of action would be to pay the balance and full and keep my fingers crossed that a (or dozens) of GW letters save my credit score?

Here’s the background on the account:

Opened the card January 2008.Â I had a good payment history until my husband I were considered filing for bankruptcy (he has a lot of debt in his name) in May of 09.Â We opted against filing, but that was the last payment I made. Date of first major delinquency is 01/2010.

I have the funds to pay the balance of $925 in full, but want to do it in a way that will be best for my credit score.Â I know that a paid charge off is just as bad, but figure I’ll get a bump with a lower util %?

Thanks for your help in advance.

March 10, 2011
Posted by jedwan at 7:14 pm
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Rebuilding Credit
account, advice-on-how, background, balance, Capital, credit, Credit Score, fingers, fingers-crossed, opened-the-card, the-background

Midland Credit Management SUCCESS (HOPEFULLY- Seeking Counsel to a few questions)

Feb 112011

Greetings Fico Community-

IÂ think I may have had success with an e-mail GW letter to Â Midland (PAID COLLECTION)Â by contacting the CEOÂ of their parent company!!!!! Thanks to months of snooping around the FICO forums!1:smileyhappy: (THANKS!!)

**Please PM meÂ for the e-mail contact**

Â Â

His reply was short and simple but I imagine that the “compliance department’ would be the one whom handle deletions from the CRAs.??

Below is his reply in a cut and paste:

Mr. F********,

I will forward to our Compliance team.Â I expect they will respond tomorrow.Â If you donâ€™t hear from them, let me know.

Best Regards,

(Name Removed for Security)

I originally contacted them in June 2010Â (with no response)Â regarding an old PAID collection which was still reporting as 9 baddies (Judgements and Collections!!!)Â b/w all the CRAs..Â When I received no reply, I recently re-fowarded the e-mail and asked politely for the contactÂ to advise.

I have also pestered Midland with numerous phone calls within the last few months. Getting shotdown with the typical ‘we don’t do deletions for paid or setteled accounts.. BLAH BLAH BLAH.

Keeping my fingers crossed for a deletion with my GW response!!!*********:smileytongue:

Questions posted below:

WillÂ re-post with the results, haveÂ any of you ahad a similar experience with Midland and their compliance department?
Does this mean I will receive the deletion request due to an actual response and the referral to compliance?
Will My FICO see a jump from having these baddies deleted? (I have read mixed results from having CA info removed)
Once the deletion is granted, how long will it take to hit my ScoreWatch Product and see the results on My FICO score?

Someone please advise on whether this has the makings of success!!.

Regards,

mrfulloluv

February 11, 2011
Posted by admin at 6:33 am
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Rebuilding Credit
actual-response, around-the-fico, baddies-deleted, compliance, cras, deletion, FICO, fingers-crossed, from-the-cras, greetings-fico, referral, results, scorewatch, security, watch-product

Need Advice on Getting funds for Business and Repairing My Credit

Feb 052011

Back in 2003 I got into a financial jam and destroyed my credit. All my credit cards got charged off and I turned my car in. After turning my car in the company filed a lawsuit and won a default judgement because I didn’t appear in court. Long Story short I paid all my accounts off so I’m debt free. The judgement I have on my credit says sastified and I have about 3-4 chargeoffs that are negative but paid in full. Thankfully I managed to keep my Macys card which is my oldest account and reports positively but they no longer reports the credit limit so I’m stuck without available credit. I recently applied for a Orchard Bank Credit Card and was approved for a unsecured card with a $500 credit limit. This new account has helped me pull my scoreÂ with myfico to aÂ 615 now.( equifax). I sent a letter into the judge requesting a motion to vacate and have my fingers crossed to see if they will award that to me. In the meantime I’m trying to see what elseÂ I can do to get my credit score up. I applied for a secured bank of america last september and a business credit card with them as well and was declined. The past few months I was relying on a FAKO score of equifax which told me my credit score was a 674. I didn’t even realize how bad my credit score was. I’m trying to apply for a house sometime close to summer May/June. The credit score min has grown to 650 with most banks and 620 with a VA/HUD loan program but that get’s you the worst rates. I also have a business which I need funds for but can’t get approved with a score this low. Any advice would be helpful. I know credit repair is normally a lengthly process but I’m hoping to gain some tips to get my score up fast.

Need Business Loan around $10,000 and Home Loan around $250,000

Goal MyFico Score 680 and up

February 5, 2011
Posted by admin at 7:13 pm
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Rebuilding Credit
business, business-credit, business-loan, business-which, credit, Credit Card, Credit Score, fingers-crossed, house-sometime, macys, orchard-bank, score

Should I apply for more credit or continue idling?

Oct 132010

Well in the last 4-5 months I’ve raised my scores from lower-mid 500s to all around 630.Â This is a big next few weeks… I’ll explain.

My Motion to Vacate judgment is pulled on October 20 at the court.Â The plaintiff has until then to respond.Â I’ve yet to get anything back yet, so fingers crossed that my old paid judgment from 2006 gets removed.
My Capital One CC statement is on October 21st.Â They didn’t post last month, so the pattern shows they will definitely post this statement.Â This is my ONLY revolving account and I’ve already absorbed the Inq, so I’m expecting a nice gain in points (10-20?+?)Â Yes I know to report only a 1-9% balance come statement time.
I sent a GoodWill to the CEO of Capital One about an account I had from 2004-2006 (perfect payments in that time frame) then I lost my job and went 30,60,90,120 and CO.Â I settled with them years ago.Â After emailing the CEO a girl from Executive Office called me the next morning.Â Very sweet girl and very positive.Â She is currently investigating the account, asked further details of my hardship, current status, etc and said she will take care of things and get back to me soon.Â She called me Friday morning and then again yesterday to “touch base” and let me know that she is still working the account

So those 3 things alone, if I batted 3 for 3, i would think, would raise my score considerably. Am i right?Â I have no open collections, no major baddies other than those above and have a lot (14?) good reporting accounts, only 3 are open (2 student loans totalling only $2800 now, and 1 personal loan with only $900 balance remaining). No late payments for over a year.

But, should I ap for maybe a store card like a Best Buy card?Â Or should I let the dust settle up there and THEN go for more cards?Â Only reason I want to ap is for a better looking credit mix and improved score.Â

October 13, 2010
Posted by jedwan at 6:33 pm
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Rebuilding Credit
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Please cross fingers…..GW email first premier

Jul 132010

So I sent out several GW letters after reading all the great advice from posts on the community. Yesterday I sent out two GW emails to First Premier, the account was CO in 08 and paid in full. I asked to GW the past due from all three of the credit files from paying in full even when offered a settlement and even asked them to reopen the account. I am hopping they do it will greatly help my credit it is my only major derog. I have two other past due accounts from oct of 08 (30 days late) one response has already told me no (CITI). Waiting on Americredit. Please keep your fingers crossed for me with First Premier it is the biggie! Hopefully they see it as a way to make some money! I will update when I hear a reponse other than the generic email stating it will be read in the order it was recieved….

July 13, 2010
Posted by jedwan at 11:02 am
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Rebuilding Credit
account, credit, due-accounts, fingers, fingers-crossed, first-premier, generic, one-response, past, sent-out-two

Capital One Auto – GW Success! Woo-woop!

Jul 062010

After many, many unsuccessful attempts (and “no” responses)Â at getting a 30 day late payment removed from a paid off auto loan account with Capital One Auto, I received the following letter in the mail on 6/22/10:

Dear MissMovingForward,

Thank you for your inquiry regarding your Credit Bureau report.

After researching your account, we have updated the information you were disputing.

The updated information is being provided to the following credit bureaus:

Four credit bureaus are listed…(Question for the forum….what is Innovis?)

Please allow 30 to 90 days for the above credit bureaus to update the information on your credit file.

Sincerely,

Capital One Auto Finance, Inc.

I’m so excited!Â I can’t wait to see this 30 day late payment removed.Â I will keep you posted with the score increase (fingers crossed)!

There is hope!Â Keep at it.Â Cap 1 DOES have a heart buried deep, deep within!

July 6, 2010
Posted by admin at 11:43 pm
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Satisfied Judgment Expired, but Equifax is NOT Deleting and still reporting

Jun 202010

I’ve had this satisfied judgment on my report for 5 years and TU, EX have deleted it and no longer reporting this item, but….Â Equifax just keeps verifing it. I have been going back and forth with Equifax and have atleast 3 letters from them stating that this Judgment verified and still reporting….Statue of Limitations for my state NY is that Satisfied Judgment reports for 5 year since day filed. This Judgment has been filedÂ 5 years and one month ago. So, basicly Equifax has violated FCRAÂ and reporting incorrectly? I just wrote them another letterÂ and ready to mail it alone with CourtÂ Document with dates stamped on Court Document supporting my dispute…

At this point I have had enough of Equifax. Why EQ keeps reporting something that should be fallen off my report? I can’t even begin to tell you how many times I submitted request for investigation and it’s all for nothing. TU and EX were swift to remove this Judgment even before it was expired and all was done on line. With EQ I have a stack of US Mail Certified Letters I have mailed to themÂ and all for nothing… just keep getting letters back saying “verified”.

The Request for Deletion for Expired Judgment, that I am mailing them now is very well done, firm, and has valid Court Document. I will keep my fingers crossed and hope I will not have to write them another request for Judgment deletion… if they still don’t do it, do I have to file in court against EQ?

June 20, 2010
Posted by jedwan at 4:39 pm
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My credit dropped 30 points over a year…YIKES.

May 182010

So I decided to pull my credit today for the first time in about a year, I thought it would have gone up. Since I last pulled it, I purchased a house, purchased a car,Â had paid 99% of my bills on time (i forgot I bought somethign on my Kohl’s card and missed a month, darnit), and in general thought I was doing well.

The results:

EQ – 4/09: 639, 5/10: 608

TU – 4/09: 629, 5/10: 599

Â Â

Grr. So, I’m starting project credit score improvement, and I have a couple of questions.

Background:

Collections: 2

Ratio: 71%

Accounts with late payments: 7

Total late payments: 12

Revolving accounts – 16k

InstallmentÂ – 24kÂ (student loans, cars)

mortgage – 224k

# of accounts – 28

accounts with balances – 11

accounts open in past year – 1

recent inquiries – 11

Other: I have 3 accounts that have 0 balance that show “payment after charge off/collection” from 4 years ago

The only open credit cards I have currently areÂ Kohl’s (CL $100/bal 0) and Best Buy (CL $600/bal 450 – will pay off in about 3 months),Â andÂ a Chase on which I am an authorized user (CL $2100/bal 1800).Â

Â Â

Next Steps:

Â Â

GW letters for late payments (I hope to get lucky, the large majority of my late payments are in a 6-month period in 2005-2006 when my husband was out of work, so hopefully my sob story will work on some of them). From what I’ve seen, very few have any luck with GW’s from Chase (who manages my Kohl’s) account, and that’s where FOUR of my lates are showing up. But I’m going to try.

GW letters for collections (I’m keeping my fingers crossed, I have 2, these are seriously minor and silly, all less than $200 – one I was trying to dispute when they sent it to collections and one is a medical bill)

Keep paying bills on time (Which I do very well in general – although you wouldn’t know it from my score!)

Should I?

1. Remove myself from a closed CC my husband has on which I am an authorized user? It is a closed account and the balance is 7k.

2. Apply for new credit (I don’t think so, I don’t think I’m likely to get it but I obviously need some major help with my ratio)

3. Do anything else I haven’t thought of?

Thanks for any help. I’m tired of living in the bad-credit-morass.

May 18, 2010
Posted by admin at 5:50 pm
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Rebuilding Credit
accounts-open, authorized-user, bills-on-time, chase-on-which, closed-account, Credit Score, fingers-crossed, general-thought, kohl, late-payments, seriously-minor, Student Loans, work-on-some

LVNV not showing as a collection on my FICO reports

Mar 102010

I’ve got a collection with a Holloway collection agency, I’m trying to negotiate a delete for them, and I also have an LVNV. Â The weird thing is, LVNV isn’t showing up in the collection section of either myFICO reports. Â At 1st it showed up as a credit card. I sent a debtÂ validation to LVNV, they didnâ€™t respond, so I asked the CAâ€™s to delete.Â The CAâ€™s contacted LVNV.Â

LVNV responded to the CAâ€™s. but then all the negative late pay marks were gone from LVNV, and itâ€™s not showing up as a credit card account anymore either. Â Â But the weird thing is, it NEVER showed up under collections on my FICO.Â But it does on Experian,. It shows up as a â€œcollectionâ€ on the direct from Equifax and direct from TransUnion too.

I wonder if itâ€™s not affecting my fico as a classified as collection account and simply showing up as a â€œregularâ€ account, should I just negotiate a settlement if they donâ€™t delete.Â If itâ€™s showing up as a regular account on my FICO, I wonder a deletion of it would hurt my score.

I was trying to get a house before April 30th.Â I doubt I make it, Iâ€™m turning the majority of my attention to this Holloway collection thatâ€™s actually showing as a collection on myFICO. In the meantime, while I try and figure this LVNV thing out.Â Cause I KNOW thatâ€™s showing up as a collection.Â Iâ€™ve gotten my other paid collection deleted with a GW, so after Holloway is deleted *fingers crossed* Â Â I wont have any more collectionson my account according to myFICO.

Message Edited by utilitybelt on 03-09-2010 07:21 PM

March 10, 2010
Posted by jedwan at 1:18 am
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Rebuilding Credit
account, attention, collection, Credit Card, FICO, fingers-crossed, holloway, lvnv, majority, message-edited, negative, regular-account, the-collection

Mortgage and Insurance

Need Advice on my Capital One Charge Off

Midland Credit Management SUCCESS (HOPEFULLY- Seeking Counsel to a few questions)

Need Advice on Getting funds for Business and Repairing My Credit

Should I apply for more credit or continue idling?

Please cross fingers…..GW email first premier

Capital One Auto – GW Success! Woo-woop!

Satisfied Judgment Expired, but Equifax is NOT Deleting and still reporting

My credit dropped 30 points over a year…YIKES.

LVNV not showing as a collection on my FICO reports

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