ItsANewDay

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About ItsANewDay

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  1. Update. Have made all payments on time and have had one collection removed from CR's. Admittedly I could have made more progress at this point, but it has been a crazy year with my new job. I do at least see the light at the end of the tunnel now and hope by this time next year to be where I need to be. Updated Scores Eq---629 Tu---633 Ex---656
  2. Sorry, been away a while. It was a Capital one Journey card.
  3. Credit utilization was big problem. Applied and received unsecured CC with 2000 CL.
  4. Forgot to add originally that I put student loans(7 individual payments is what shows) on auto pay after catching them up. Fako scores already rising.
  5. Put simply, I intend on chronicling my journey from Credit Repair Infancy to the day I am able to enjoy all the benefits of good credit. I have spent many hours reading this site and am finally ready to take the slow steps toward improved credit and more financial freedom. It is my hope that along the way someone is helped by my experiences and this thread. Along the way I will edit this post in a step by step manner so as to show the actions taken, progress made, and the time frame for which it happened. Thank you in advance for all of those willing to lend(pun intended) a helping hand! 1) Order all three CR's-----Oct 16 Eq---559 Tu---542 Ex---585 2) Signed up for Credit Karma and Credit Sesame to track Fako Scores. 3) Put all student loans and mortgage on auto pay plans for first of each month. (payment history a big ding for me) 4) Secured Credit Cards applied for-----Oct 16 5) Unsecured Capital One Journey with rewards CC approved with 2000 CL----Feb 17 6) Letters sent and one collection removed----March 17 7) Updated Credit Scores---May 17 Eq---629 Tu---633 Ex---656
  6. Thanks Harry Seaward! So if I am understanding you correctly since the last report I got from transunion was from freeannualcreditreport any dispute I make will give them 45 days to repsond. If I go ahead and purchase a report from transunion they will only have 30. Is this correct? No the debt closed by the creditor was a credit card, not an installment. I am just not sure if completely paying it off will hurt me since I have had it for many years, but I am also unsure if those many years even matter once it is closed by the creditor. It is fine if getting three hurts my credit in the short term. I am resigned to the fact that this is not going to be a quick fix, so I am good with it if it helps me in the end.
  7. Going to start this process and track it throughout as I am completely ready to correct years of poor choices, poor luck, and obviously poor credit. Have read extensivley for about a week now and I have a couple of questions that I can not seem to find the answer to. 1) I see that if you order your reports from freeannualreports.com that the agencies have 45 days instead of 30 to respond to disputes. What I can not seem to find is if that 45 days is only for online disputes or if it is also for certified letters that are mailed in? 2) Is an account that is closed by the creditor that you have had for years beneficial to you at all? In other words should one make minimum payments on it and drag it out so the long history of credit helps, or might as well pay it off an move on because once closed you have lost the benefits and are being hurt by the debt remaining on it. 3) When getting secured Credit Cards to begin the rebuild process, how many should you get? 1, a few, as many as you can? Thanks guys, looking forward to this process and bringing an end to this era of my life!
  8. Ok, did not know that. Given I haven't received any form of a statement I assume they are not charging it.
  9. Thank you shellieh98. I was under the impression that once a charge-off occurred that interest stopped adding up? I mean if a given amount has been "Charged-off" and deemed noncollectable, how can they keep adding money to it? Also I have read where Prosper has chosen to only sue people form the companies home state of California. Seems they don't feel it is worth it given their business model to do so in other states. It is hard to find a lot of information on them as far as settlements go, which is why I created this thread. Thanks again!
  10. Thank you CM! Great idea about the 2 copies of a letter. Given that this seems to be with the OC do they tend to want a higher % than JDCs? I assume you meant that you put in your settlement letter that they would delete the charge-off upon payment. Did they acually do it or send a new settlement agreement with that excluded. I have read where they they can not take a charge-off off your credit report, is this true?
  11. Thank you for the replies. Best I can tell by looking at my credit report Prosper still has it. There has been no contact made from a DC and nothing reported from a DC either. Given that, is my best bet to call them directly and negotiate or send them a letter with an offer? If the phone is the way to go and you have already said be careful that it is being recorded, what should I avoid saying? I have read that 25% is what people offer, is this generally accepted or do most wind up paying much higher %? Thanks agin guys for all the help!
  12. Short version: Wanting to move in the next year and will obviously be looking for a Mortgage. I have a charge off of about $8000 from Prosper(a person to person loan provider) from about 3 years ago and I need to know if anyone is familiar with their procedures as they pertain to negotiating settlements, payment plans, etc. Best I can tell I will not qualify for a mortgage until this is paid, but the problem is I don't know how to approach them given they are not the creditor. They have never contacted me about collections and based on my readings they just moved on back then as they didnt want to be in the collections business for someone elses money . If I did pay them something then where would the money even go as many of those that I owe are probably no longer around. Has anyone had any experience or have any knowledge of Prosper and how I should deal with this. Not looking for a magic potion to make everything go away, I made my bed and am willing to sleep in it. I would however like to know what is in my families best interest as far as moving past a rough patch in our finacial lives and getting this issue resolved. Thanks in advance