Newbie Assault Starts Now! A little direction please?

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Hello! I’m in the process of Repairing and Rebuilding my credit, and I’ve been lurking around these boards for about two weeks and reading reading reading! I’m hoping maybe a few of you veterans can look at my situation and make sure I’m on the right path? Long story short, had amazing credit 9 years ago at 22, until a deadbeat ex took advantage of that and ultimately caused nearly all my positive accounts to go negative (w/ exception of my car loan, sold the car but perfect pmt history and 13yo account).

In 2006 my score was around 514.

In July 2012, it was 596 (EX). I needed to lease a car and Toyota wouldn’t until my score got to 620 minimum…so since then have begun cleaning everything up.

I now have a Capital One Secured Card that has 3 months of positive payment history. I sent my CRA Dispute letters earlier this week, so in the process of getting these old TLs deleted. I’m hoping between the new positive stuff and getting most negative stuff off, that I might be in the mid-high 600s (or dare I say 700?) by next March. Maybe unrealistic? I dunno.

In the last two weeks, a new CA for Midland Funding ($603) showed up on all 3 reports, as Date Opened 3/2012, status as of 9/2012. They are also calling my cell phone incessantly from their Unknown number. I’ve never actually spoken with them, but it’s for a Verizon balance from 11/2009 that we disputed and cancelled our contracts. I have no recollection of receiving anything in the mail from Midland. I disputed the account in my letters to the CRAs, but not really sure what I should do next with these yoyos…

My current FICO scores today are 625 (EQ) and 615 (TU).

In the last month, I’ve received three credit card offers in the mail. I feel like I should open another card account to get more positive stuff reporting, increase CL etc, but not sure the right way to go? Do I open another Secured card? I’m assuming I wouldn’t be approved for these CC Offers:

Discover Card, 0% intro APR, no annual fee, 5% Cash Rewards

REI Visa (US Bank), 10.99-22.99% APR, no annual fee, 1% back added to REI Member Refund

Pre-Approved CreditOne Platinum Visa, 23.9% APR, $75 first year then $8.25/monthly, plus $19 Authorized User Participation Fee. Credit Line $300-$1500

I know the CreditOne offer is awful. Is it better to wait a month to see what I get deleted via the DLs and then reassess?

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Regarding cc offer in the mail. I would never get one, instead, go to your nearest credit union and open an account there. Then apply for one of theirs. You will get the best interest rate and better treatment all around. Better than the banks even.

Just remember whether you are past SOL or not, if you pay a dime on any account it will either extend or restart the SOL. Always send any communication to a JDB CMRR, and in the DV letter tell them that they are not to call you at any number, to only communicate by us mail. After they talk to you on the phone, they have five days to send you a dunning letter, if not, it's a violation.

Get a small recorder, be prepared to answer the phone and find out who they are, then hang up. Do not talk to them anymore than you have to, but try and get a name and address of who is calling. Also, take pix of your caller ID, start a file and a log file on each of them. You stand a chance to make some money off of Midland and the others. Good luck. :o

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Thanks Tom! I will look into my local credit union next. It also seems like by throwing an extra $100 on my secured card limit, my score has readily gone up every month.

I'm not planning on paying anything towards the old debt. Everything but that midland acct is out of SOL. Outside of a judgement from 2007, the worst account will be falling off in March at the latest. I also need to research more on how to vacate the judgement.

I'm in CA... When I take the Midland call, I need to tell them the call is being recorded right? And also, their number comes through on my caller ID as "unknown"...I have the call log, but how can I prove its them each time without answering the call? I'm always nervous about talking to these people!

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I just checked Credit Karma for updates to my reports, and suddenly they are reporting a "new account" for a Bank of America credit card that was opened in 2000, with a $14k limit and $0 balance. This can't be mine. It is however showing that my utilization is waaaaay down now, so it sounds like it's an open account? But it didn't affect my overall credit karma score, which I find strange if it's an older open account with a high limit and no balance...

How can I get more information about this? I have no clue which bureau is reporting it, and the bureaus have until 11/5 to respond to my dispute letters, so I was already anticipating checking then. Is there a credit monitoring service anyone here could recommend for someone who needs to look for changes/updates often?

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