hello!! i am a 19 year old college student that is looking to purchase a car by january. i’m currently looking at a certified pre owned car (2021 corolla LE) that’s $17,995 before taxes (NJ). my credit score is currently 678 according to equifax (through credit karma) and i do not have much of a credit history (only my student loans that will start payment in early 2028), but im currently beginning the process to get a discover student card to build credit. i would be looking to get $20k from a credit union and would ask my grandparents with a 700 range credit score to co sign me. i also make $1,200 a month from work. would i get accepted for a $20k loan given those circumstances?

Current charge off balance is around $27k and they offered 40% which is not feasible. Chase offered 15% with similar balance. What would be realistic to expect if I counter OR should I wait until it goes to collections and try and negotiate with the collection company? I would prefer to avoid NFCU selling to a creditor that will sue.

35% the payoff amount is $14,006.62. In an effort to assist you, we are willing to accept a lump sum settlement of $4,902.31. 

21% Credit card charge off around 5 years old. $9200. Haven't head from them in years but the last letter was for around 2000 settlement

Credit attorney here. I've seen Navy Federal sell these debts to LVNV / Resurgent, maybe to other debt buyers as well. I've seen LVNV sue on Navy Federal debts as well.

The two common phrases uttered when someone brings up credit cycling is that "Credit cycling will get you shut down" or "Lenders frown upon credit cycling." As recent as earlier this year I perpetuated what I now believe to simply be another credit myth.

I started noticing that any time someone made one of theses statements, there would always be replies from people stating "I've credit-cycled my XYZ card plenty of times without an issue" or something similar. On the flip side, I couldn't really recall any examples of people actually posting about receiving AA (Adverse Action) for credit cycling. And, if there were examples of it, they were extremely few and far between.

I started doing a lot of searching and found far more examples of people that reported credit cycling without issue relative to those that reported one. I decided to create a thread over at the CreditCards sub asking those that have credit-cycled to report if they did/did not receive AA and with which lender(s). That sub gets a lot of exposure, so I'm certain that there would have been many replies of credit cycling AA if it had happened. Almost all responses were in the other direction though, that people had credit-cycled without experiencing AA. The lenders included in that thread were Discover, Capital One, Bank of America, Navy FCU, Chase and Citi that people stated did not care about credit cycling.

As with all factors credit-related, I think it's important to know your lender and know your profile. These lenders above (and likely plenty more) seem to not care about credit cycling. As far as profiles go, conventional wisdom would suggest that the stronger the profile the less one would have to worry about a lender taking issue with credit cycling. That was also one of the factors I came across in the rare examples of people referencing being "shut down" for it - almost always there was a profile-related catalyst. Things like returned payments, for example. Or someone spending so heavily on the card that it simply didn't make sense relative to their income. In examples like this, it isn't fair to suggest that credit cycling is what got them shut down since there were clearly more adverse variables at play.

In conclusion, my take is that "lenders frown upon credit cycling" at this point is largely a myth that tends to get repeated every time the subject comes up without any real evidence to support it. The amount of data points I've seen suggesting otherwise is certainly substantial. As always though, be sure to know your own profile and the lender(s) with which you're dealing with.

As an aside, those that are credit cycling and allowing high statement balances to generate that are then being paid in full monthly shouldn't have to do it for long. The reason why is that high statement balances paid in full equate to the best recipe for lucrative CLI success. Raising credit limits in these situations should result in the need for credit cycling to go away.

“Between Oct 26, 2024 and Nov 8, 2024, the following remark was removed from this account: Account previously in dispute - Now resolved by data furnisher. Remarks are meant to make your report more clear. If you're not sure why this remark was removed from your report or where it came from, you can contact your creditor or the credit bureau for more information.” What does this mean ? Got a notification today on a resolved dispute the merchant already refunded

I'm going to try the Goodwill saturation technique to try to fix a few late payments on the good accounts (credit card, auto loan), but I need help with these bad accounts.

Charge offs:

Upstart - 3600, reporting on Equifax as 0 balance, has not been updated on any report since 10/1/2022. Says it was purchased by someone else, but nothing on reports. No payment was ever made on this account.

NFCU - reporting as charged off revolving account, from 2018, falls off in March so not really worried about what to do with this, this is updating monthly.

Affirm - $285 (pay for delete?) This is being updated monthly but only on Experian.

Collections

Verizon Wireless - 6157 charge off due to bill being high from device payments, just couldn't do it anymore. Learned our lesson the hard way, we are on a prepaid plan and will never do that again. Says date of first delinquency was 10/22, but first reported delinquency was 2/2023.

Esurance - from 3/22, 310 through a secondary collection agency (pay for delete?) Reporting on Equifax

On the big $ accounts, do I offer to settle for a lower amount? How much? I can easily pay the smaller accounts but I would like them gone if I can. I have heard Verizon is very difficult to fix.

I finally reached 700! My two and a half year mark from bankruptcy was back in May this year!

I had a crippling gambling addiction and my credit score is in the dumps (FICO 500 and less) I've been riddled with anxiety and depression because of it. I am 18K in debt and borrowed two loans that are going to take me years to payback. I had to use Freedom Debt Relief because I can't pay back all the money I owe and i'm afraid one of these credit companies is going to sue me.

Has anybody been in situation like this? I feel like i'm losing all hope but i'm hoping to know that things will be ok in the end if I just keep going. How have you climbed out of debt? Looking for advice or just hope in my situation. Thank you for listening.

Debt account verified but I never got a letter

I called in to PayPal Synchrony Bank and I was transferred to a Synchrony bank rep who made me identify my info, I thought he was able to give me my account number but said he couldn’t because it is not with a collection agency- Monarch Recovery management collections agency. The chick I spoke to was not making any sense and was somehow confused by simple questions, she acted confused when I asked her questions and agreed to settle to 1k, I didn’t negotiate more because she wouldn’t validate anything. Anyhow I now see that as of October 27th my account is verified, yet I never received a validation letter of the debt or anything else? What do I do from here? And what if I decide to pay it off how do I ask them to verify the debt? Or how much they purchased it for? Sorry for the questions, I’ve read other subs but I seem to see different answers and would like some clarification.

Creditor Remarks Profit and loss writeoff

Account Type: Credit Card

Last Payment: Mar 11, 2023

Account Verified: Oct 27, 2024

Date Opened: Jun 16, 2022

High Balance: $2,063

Term Length: 0 Month(s)

Payment Frequency:

Account Rating: Payment after charge off/collection

Account Description: Individual account, Revolving, Credit Card

for the first time in years I was unable to view any of the three free credit reports on annualcreditreport.com, issue started in late summer. I was able to get my spring report without any issues, but then my info got locked. I finally gave up and requested all three reports to be mailed to me.

I am wondering why and if this is a “sign” my SSN and rest of it were part of the National Public Data breach late last year.

Any insight appreciated!

What all criterias i should fill in before going for a credit card? As all the brand promotes their own credit card that will give me good benefits on shopping and dining.

Hello, I'm 21 (in the UK) so my credit history is very limited with only getting my first capital one credit card this summer. But a couple months ago I signed up to a couple of credit score checkers (clear score and experian) and I was surprised at how high they were. Clear score is stable at a good 100 points above my areas average, but experian has been really fluctuating, after the first 30 days it rose by +73 points and just today after the second 30 days I lost -33 points. Is this normal for a new credit score? Does it take a little while to settle?

Fico 8 Credit score is as follows, Experian 690 Transunion 675 Equifax 617

I have 2 chargeoffs from 2020 that are only reporting monthly to Equifax and haven't reported to Experian/Transunion in almost 2 years.

I plan to apply for auto financing in 2-3 months. Paying them isnt a problem but im worried it may hurt my score by updating an old account. What should I do?

So I have been almost 10k 8’ debt due to an ex. My almost 700 FICO score dropped below 500. After year of calls and a police report I managed to get that 10k reduced down to around 4300 cause discover decided not to hold me liable.

Now the issue is capital one. With a 2900 and a 973 bill on two separate cards. They are refusing to do an investigation despite a police report proving other wise and the 2900 card is charged off. Since my credit score is shot. And I’m young I was thinking of using that as an advantage. I was thinking to settle cause dealing with capital one as been absolutely infuriating and I can’t anymore. Words can not describe how done I am with them.

Anyways, given I’m young I was planning to settle and just rebuild from there. I’m not buying a house in 5 years much less 10. I’m not getting a car anytime soon. So I’m willing to take the blow and just rebuild.

Given that. All I plan to do is settle the 2900. And I will continue to pay off the 973 bill. Honestly I could struggle for two weeks. And just knock out that 973 bill with one check. Or do 500 between two checks.

I also have a 158 dollar milestone bill which I got reduced down to 60 which i literally just paid off and I have a 300 dollar kohls card bill which I also knocked out with my most recent check.

But I 100% absolutely REUFSE to pay no more than 500 dollars of that 2900 because 1 I didn’t know two. 2 They are refusing to acknowledged a whole POLICE REPORT and a statement from another bank that cooperated with the police to prove that I’m not responsible for the charges. 3 capital one refuses to do a proper investigation.

So what do yall think? Also how should I try and negotiate this.

I was thinking of saying. All I can afford is 300 as I’m a student and I pay my own tuition and this was my very first credit card. I have been a victim of identity theft despite what ur system and back office states.

If no

I will increase it to 400-500 so forth. And explain that my other credit account for kohls(309) and quicksilver(973) that I will pay those in full. 309 paid all at once. 973 paid between two payments of 500. On top of the 500 dollar settle I’m requesting so that a total of 1782. That I’m paying. So that two cards paid off in full. And a debt not caused by me settled for 500. That’s almost 50% of what I owe guys paid back. And since this is my first violation can I give a goodwill letter to remove that settlement report from my credit report.

Or should I pay 200 a month for 15months and ask for a removal of late fees.

Capital one sent me a letter stating this. Can I just right a normal letter letting the requirement or is there a template.

Other Materials - a certified, written statement that contains or is accompanied by the following information and documents, to the extent they're relevant to your claim of identity theft: • Allegation - a statement that you are the victim of identity theft • Identification - a copy of your New York-issued driver's license or ID card • Other Identification - any other relevant identification documentation • Additional Facts - specific facts supporting the claim of identity theft, if available • Explanation - an explanation of how or why you did not incur the debt • Prior Disputes - any correspondence from prior attempts to dispute the debt (for example, a prior billing error notice) • Proof of Residence - documentation demonstrating that you lived at another residence at the time the debt was incurred (for example, a utility bill) • Contact Info - a telephone number for contacting you with questions, or a specific mailing address we should use for sending additional written communications • Suspect Info - the identity of any person you believe to be responsible, if available • Claim - a statement that a) you didn't authorize the use of your personal information to incur the debt or b) you were coerced into authorizing the use of your personal information to incur the debt • Additional Documents - any criminal or family court documents supporting the claim of identity theft © 2024 Capital One.

I've been reading that the AZEO is the best way to utilize your credit in anticipation of a loan. I'm looking to get a new car in December or January and I want to make sure I don't right to maximize my score.

I have 4 credit cards

two with zero balance 1k and 1.5k limits one with 1300 balance and 14k limit one with 750 balance 3k limit 0apr next 3 mos

One open secured 16mo pledge loan for $1200 4 months old with 98$ balance

Is that pledge loan factored into the AZEO equation? Should I pay off all CCS leaving the loan or is the loan not a factor in AZEO and it would be better to pay off my 1300 balance and make a $300 or less payment on the 3k card?

I don't want to pay all of my cc debt and see even a minimal decrease in scores over the next few months especially when I can avoid interest. So I'm looking for the best strategy

Thank for any help

I received a camera generated bill in the mail for driving onto a private parking lot to give a stranded friend a jumpstart in the middle of the night for 10 minutes. (there was a QR code posted for payment, but not any "contractual language", gate, attendant, etc...

The private company is very sketchy legally (a lot of "by appealling this bill, you agree to a long list of draconian rules" on their website, with no other way of contacting them)
I have no intention of paying this bill on principle, or agreeing to their terms. What's the best way to minimize any potential impact from debt collectors or credit reporting agencies. (I'm a total newb to not paying a "bill")

thanks for your wisdom!

Hi! Trying to fix my current credit score (607 Experian 573 equifax 594 transition) all of these are FICO scores obtained by using the Experian app, after being a credit illiterate im my early 20s. Is there a way to remove hard inquiries from your report, and do hard inquiries really bring credit down enough to worry about it?

Follow up question, when I pay off collections (I have paid them all) do they get removed from your credit and help the score at all?

TIA🫶🏼

Am I able to just mail check payments to the original creditor synchrony or should I pay first source who acquired the debt and are calling me every day ? Thank you in advance!

Hello everyone I am just curious to see if others have ever used their HSA money to pay credit debt. I currently have some cards with a high balance and want to pay them off as fast as possible. I know I am not supposed to use my money for this purpose and can potentially get penalized for this. If the HSA company finds out I think I would have to pay the money back plus 20%. Please let me know your feedback thanks.

Had a bunch of family health issues, laid off, other terrible life things in the past few months so car was repossessed today. Lucky enough to have a family member help out, and pay off the remaining $3k to get the car back.

Will i still have the repossession on my record if i paid the entire balance off days later? Was finally getting my credit up (23F) and now this haha.

Just trying to see what to expect.

I've used myfico and paid for a score. What site do you use? What's the most accurate report if any?

I ask because I'll be applying for a home loan soon and my score was around 670 2 weeks ago. And checking again this week it's 740ish after I paid off a loan and brought down my debt significantly in the past 2 weeks. I just want to have enough time for it to fully update before we hard run my credit to get the best rate.

Hello, my bad if this post doesn’t belong in this sub, but I’m having trouble getting a start with my side hustle and several times it has come down to this exact situation. I currently live check to check with my fiancée, we both work full time bring in about 4500 a month. From our jobs there’s about 600-700$ spare a month that mainly goes into paying down our cars (almost paid off, both 200 a month, low interest). My side hustle for the past year has been eBay flipping, I have done it all my life but recently (this year) have been put in a work situation that allows me to work on this a lot more often. I average about 1,200$ a month in profits, (anywhere from 2200-2600$ a month in sales) the problem is that every once in a while, when I get a good three grand saved up from it something occurs and that money is gone. For the third time this year I am faced with an opportunity, a fellow flipper, with an inventory to be absolutely jealous of, thousands of retro games, consoles, etc. I am equipped with time, effort, and experience, yet I lack one simple thing. 7,500$. I have gone lender to lender, and with my basically zero credit history it’s not looking bright, and I’m afraid to have this opportunity pass me again. If someone with better experience than me were in this situation, how would you make it happen? I’ve got about 400$, a car that’s worth about 18,000$ that’s got 6,000$ owed on it, am I screwed?

Apologies for the long post, and I appreciate any advice anyone can offer.

22m with a 780 credit. My only credit accounts are a car loan and a single credit card (discover). I have 0 missed/late payments and a revolving credit utilization of 1%. My credit age is 3 years and 8 months for my credit card and average age is 2 years and 7 months. A lot of comparisons to similar credit scores have more credit cards, would another credit card benefit me or would it hurt me by making my credit age even younger?

I moved out of an apartment this year and the landlord alleged I owed money, beyond the security deposit, for damage to the apartment. There was no damage to the apartment, plus the landlord did not provide any required documentation to prove damage and the cost of repairs within the timeframe required by law, so I disputed the amount owed and requested the return of my security deposit. Landlord refused and I have since filed a lawsuit in small claims court to recover my security deposit. However, due to court delays that process has not started in any significant way (can't even serve process yet). In the meantime, I received a letter recently from a debt collection agency to pay the amount owed to the landlord, and if I do not pay by X date they will report it to the credit agencies. I immediately sent a letter to the collection agency disputing that I owed the debt and requesting they provide proof of the debt. They responded saying the letter was forwarded to the property manager for review.

My question is: what is the best way to avoid this negatively impacting my credit score? I have already disputed the debt, but I fear if I don't pay by the X date the collection agency will report it and it will severely ding my otherwise good credit score. I don't have time to wait for the court resolution, but I also don't want to pay the collection agency for this disputed debt if they are just going to report it anyway.

I used to go to a golds gym but had to move suddenly and did not cancel my membership. And as you know, these gyms refuse to let you cancel online or over the phone. You have to go to the local gym where you opened the account. I was not able to cancel in person so I called and as you’d expect they said no. I then decided to close the card that was being charged as a last resort. A few months later, a collections agency kept calling me asking me to pay the gym $600 of accumulated fees and interest. Of course I tried to explain but they were not buying it.

My question is, will that affect my credit score? I know there are some laws that are getting passed that would require businesses like gyms to have a one-click cancellation online.. but it has not passed yet.

I can’t pay $600 if I have not been using their services this whole time.

Any advice would be appreciated

I have gone a long time without any kind of credit card or loans, but I've now had a credit card for a little over a year. I noticed recently that my FICO credit score has gone down a little and I don't know why.

I use my credit card often and I pay it off a couple of days after making each purchase with it. I've never missed a payment or gone over on it or anything.

I might be in a position soon to pay off multiple student loans, all at 6.8%, five in total, if not all of them, before the end of the year. I know I should expect a dip in my credit score if I pay these off.

These loans are older, and add to my credit history average. My Fiancé and I are thinking of refinancing if the rates ever adjust to the low 5s or under, and I do not want to risk missing an opportunity because my credit score is slowly recovering from what should be a good thing.

Currently, my credit scores FICO8 is 776 under Experian & TransUnion, and Vantage Score 3 is 779 under Equifax.

I have a 5 and 9 month old delinquency of over 120 days hanging over my head for a forgotten Macys card, that has long been paid off and closed off by the store for nonuse thereafter. I am really trying to get my scores back up to the 800s and don't want to lose ground. Her Credit is in the 800s, and when we bought the house the difference in our scores was enough that the mortgage is under her name only. I do not want to be the anchor that again keeps me off the mortgage if we refinance.

Thoughts?

Hello, so I’ve posted previously, I’m on my credit repair journey. I charged off with Merrick. I have enough to settle although I would prefer not to since I am trying to settle 2 other collections. I want to buy a house - hoping to do so in a year or so.

Now, I don’t understand what this means. There’s multiple dates so I’m not sure which one to go off of. Can someone clarify? Should I contact them and settle or wait until it falls off? I was under the impression they don’t do pay-to-delete, but they do mark as paid in full if a settlement is reach.

Thank you!

I do now have a full time job and know in order to get accepted for a good place I need to have good credit. What credit card would be good for me?