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im in a hole and i cant get out


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First i would like to say Hello to everybody;) and how happy i am to find this

website. my situation is that when i first got my best buy credit card it was a

limit of $400 and this was back in 2005 and let me just say this i got excited

because i love best buy and it was my first credit card soooo i maxed it out

:roll:. then i was getting behind on the payments didnt care about soo i left it

alone and stopped paying it ( i was 18) and then after that there was an

issue with my bank which was chase that they credited my account for $400

because of a unauthorized transaction or something that i forgot about then

they took that money back and my account was -$400 so they closed my

account then the same happened with wells fargo but that was around $250.

then i got a letter from the library saying that i owe them $200 for books and

movies i have never herd of soo i called them and told them i never checked

these out my card must have been stolen, then she said this was 5 months

ago you could have reported it then blah blah blah i said forget this soo i left

it alone. then i get a letter from this company called columbia house saying

that i owe them around $234 for dvd movie purchases which i have never got

in the mail and this was a mistake i have made when i was naive about

advertisers :confused: but anyway i emailed them and toled them HEY I

NEVER RECIEVED ANYTHING FROM YOU GUYS??? soo they didnt reply and

ofcourse they sent that to collections :evil: . and last but not least i have an

unpaid traffic ticket which im currently taking care of. and now im realllly in the need of a new car and new computer and tried to get them but as i expected i wasnt approved soo now im very desperate and as all of us here i learned from my mistakes and im ready to take action and fix my credit score but i dont know where to start because my situation is a little different from others in this website. thank you you guys and i hope you guys can help me get out of this mess i fell in when nobody guided me when i first started. thank you

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Don't worry about Columbia house, they don't have a SS# and don't report.

Get a crown jewelers account (no credit check) and a secured credit card at Orchard. You need some positive tradelines while those collections age.

Pull all your reports for free at annualcreditreport.com and then dispute all the negatives and see what sticks.

After that come back and read read read.

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Well, welcome to the board. First, you need to familiarize yourself with some of the stickies on how to proceed but I will give you the abridged version. For specifics please read the stickies. It won't do you any good to just outrightly do anything we recommend unless you're familiar with terms and the effect one letter will have on your situation, to another.

Usually you want to take credit repair in these steps.

1) Get your free credit report, 3 in 1s are a good place to start but they may not give you a complete picture of what each CR looks like. There is also a sticky for credit monitoring services that you can review.

2) Range your accounts in poor standing from most important to least important.

3) Look for and compare any and all inconsistencies between the 3 reports. Also take into account if CA debts are still within SOL.

4) Begin disputing with the CRAs, this will take up to 45 days if a report is ordered from annualcreditreport.com, 30 for all others. This may wake up sleeping lions so expect to get at least 1 or 2 dunning letters from a CA. Use the new CR they send you to get a more specific look at items on your CR that did NOT show up on your 3 in 1. These reports may also show when an account is scheduled to come off your report.

5) DV any letters you may receive, they are required to respond within 30 days.

6) Negotiate for PFDs if the balances they are trying to collect are reasonable. Also NEVER talk to a CA on the phone they may try to get you in a situation you aren't ready to agree with and they may use it against you later since CA calls are usually recorded. Only use via CMRR postal to communicate and you may want to include that you do not wish to be contacted at work or at home.

7) Negotiate for a settlement lower than the actual amount with the promise that the debt will not be sold to another JDB.

8) Rinse and Repeat.

Hope this helps.


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