[Depressed]

Hi to all.
Here is my story. I owe nothing, have credit score of about 618, but w/ two charge offs that will not come off for a little over 2 yrs. I can't get anyone to loan me money w/out a co-signer and I don't have one.

The two charge offs have also prevented me from getting an apartment that my son and I needed. But wait theres more.

The auto loan on the auto I drive is in my husbands name, he threatens to take it away anytime he feels I should pay him more money. (yes this is a bad marriage I am trying to get out of). My soon to be ex is unemployed, trying to start a business and is sinking fast in debt so when he feels the money pinch he threatens to take the plates off the auto I need to get to work and blackmail me for more money. In fact this was a threat he made 2 days ago when the insurance was due.

He told me I needed to get the auto in my name (in 16hrs.) or he would drop it from the insurance policy and have the auto repo.

The long and short of it is, this man has me by the short hairs unless I can find a way to turn my credit around quickly. I should also add that I am the one making the payments on the auto I drive.

I tried to buy an auto on my own. For a 1500 auto loan without a co-signer I needed 1000 down and about 450 a month for 5 yrs. Needless to say I had to walk away. I also tried to get a loan to pay off the auto I am driving, but again no co- signer no loan, even from my own bank who knows how much I make (direct deposit) as well as my ability to pay on the auto I am driving (paid out of my personal account without husbands name). My credit history also affects my insurance prem. on my own.

So the big question for me is: Is there a way to work around the two charge offs without a co-signer or taking a beating on financing???

[roybean]

Do you have any positive trade lines? And how old are the charge offs?

[Depressed]

One charge off was closed in 2001 the other closed in 2002. If they stay on a credit report for 7 yrs, then I am stuck with the last one for a little over 2 yrs. Positive trade lines??? What are they???

[roybean]

Originally Posted by Depressed

One charge off was closed in 2001 the other closed in 2002. If they stay on a credit report for 7 yrs, then I am stuck with the last one for a little over 2 yrs. Positive trade lines??? What are they???

Positive trade lines are accounts in good standing, are current, never late, etc.

I take it the charge offs are the original ceditors reporting? And they haven't been sent to a collection agency?

How do the trade lines read? Are they reporting correctly?

[Depressed]

I don't have any active accounts. I pay in cash or my checking account debit card. As for the charge offs, they are listed as closed. For the most part things are correct except Equifax has me listed living at a place I have never lived.

[Qtip]

Originally Posted by Depressed

Hi to all.
Here is my story. I owe nothing, have credit score of about 618, but w/ two charge offs that will not come off for a little over 2 yrs. I can't get anyone to loan me money w/out a co-signer and I don't have one.

The two charge offs have also prevented me from getting an apartment that my son and I needed. But wait theres more.

The auto loan on the auto I drive is in my husbands name, he threatens to take it away anytime he feels I should pay him more money. (yes this is a bad marriage I am trying to get out of). My soon to be ex is unemployed, trying to start a business and is sinking fast in debt so when he feels the money pinch he threatens to take the plates off the auto I need to get to work and blackmail me for more money. In fact this was a threat he made 2 days ago when the insurance was due.

He told me I needed to get the auto in my name (in 16hrs.) or he would drop it from the insurance policy and have the auto repo.

The long and short of it is, this man has me by the short hairs unless I can find a way to turn my credit around quickly. I should also add that I am the one making the payments on the auto I drive.

I tried to buy an auto on my own. For a 1500 auto loan without a co-signer I needed 1000 down and about 450 a month for 5 yrs. Needless to say I had to walk away. I also tried to get a loan to pay off the auto I am driving, but again no co- signer no loan, even from my own bank who knows how much I make (direct deposit) as well as my ability to pay on the auto I am driving (paid out of my personal account without husbands name). My credit history also affects my insurance prem. on my own.

So the big question for me is: Is there a way to work around the two charge offs without a co-signer or taking a beating on financing???

I feel your pain, welcome to the site! Ok lets take it by steps and please bear with me if some of this sounds redundant, just want to obtain as much information as possible.

First please tell us what you have done so far, this is for example what I would do if I had an issue.


1- Pull credit report from Experian, Equifax, Transsuion.

2- Analyze report and dispute inaccuracies, in this case if there is anything erroneous with the charge offs, I would dispute the trade line.

3- After disputing the trade lines I would pull reports again to see if the trade lines are gone or remain. If they remain how are they listed? Are they marked as disputed? If you disputed the accounts, the credit bureau needs to mark the accounts as disputed on your credit file.

Are there any collections listed on your credit file?

[Depressed]

Originally Posted by Qtip

I feel your pain, welcome to the site! Ok lets take it by steps and please bear with me if some of this sounds redundant, just want to obtain as much information as possible.

First please tell us what you have done so far, this is for example what I would do if I had an issue.


1- Pull credit report from Experian, Equifax, Transsuion.

2- Analyze report and dispute inaccuracies, in this case if there is anything erroneous with the charge offs, I would dispute the trade line.

3- After disputing the trade lines I would pull reports again to see if the trade lines are gone or remain. If they remain how are they listed? Are they marked as disputed? If you disputed the accounts, the credit bureau needs to mark the accounts as disputed on your credit file.

Are there any collections listed on your credit file?

Yup, I pulled reports. Disputed accounts from one agency that had closed accounts listed as open. Those were taken care of. I am trying to get Equifax to fix the address they have listed, that I have never lived at. For the most part, and from what I can remember things look accurate. Both of the charge off are from Cap. One, and they are the ones that closed them as charge offs to bad debt. The total for both accounts is around $3000. So for 3 grand I am screwed????

All I want is to start my life over. I could have filed bankruptsey when I was in the deepest debt, but I thought that would screw me over more. I paid off, or negotiate a better pay off for most of my credit card debt, but Cap. One just closed those two accounts as charge offs. So as things stand now, I have NO debt, I am free and clear, but I am still screwed.

Also I have NO open credit cards or any other accounts to improve my credit. Yup, I know this would help, but how do you get credit if no one wants to give you credit (at least one I can afford LOL).

[Qtip]

Originally Posted by Depressed

Yup, I pulled reports. Disputed accounts from one agency that had closed accounts listed as open. Those were taken care of. I am trying to get Equifax to fix the address they have listed, that I have never lived at. For the most part, and from what I can remember things look accurate. Both of the charge off are from Cap. One, and they are the ones that closed them as charge offs to bad debt. The total for both accounts is around $3000. So for 3 grand I am screwed????

All I want is to start my life over. I could have filed bankruptsey when I was in the deepest debt, but I thought that would screw me over more. I paid off, or negotiate a better pay off for most of my credit card debt, but Cap. One just closed those two accounts as charge offs. So as things stand now, I have NO debt, I am free and clear, but I am still screwed.

Also I have NO open credit cards or any other accounts to improve my credit. Yup, I know this would help, but how do you get credit if no one wants to give you credit (at least one I can afford LOL).

Uff Cap One, they are horrible. To get the address removed from Equifax, send them a letter stating that you never lived in the address and that should take care of that.

I know you are a little strap for cash now, but as soon as you get a little extra cash; you should consider geting a secured card that reports as a regular revolving credit card.

Are the chargeoffs marked as disputed by consumer on your credit file?

[Depressed]

Originally Posted by Qtip

Uff Cap One, they are horrible. To get the address removed from Equifax, send them a letter stating that you never lived in the address and that should take care of that.

I know you are a little strap for cash now, but as soon as you get a little extra cash; you should consider geting a secured card that reports as a regular revolving credit card.

Are the chargeoffs marked as disputed by consumer on your credit file?

I would not have thought to dispute the charge offs as they seem to be correct. Not good, or welcome, but correct.

Which secure cards report??? I do have some money put aside to get away from horrible hubby.

[Qtip]

I think the bofa reports;

Secured Visa Credit Card from Bank of America


There are other cards that report, I will look later and post them. Unfortunately, unless you can find something wrong with the trade line, that you can dispute "a 30 day late that was not late" etc... Then there is no way to remove the trade line, if you dispute the trade line and it is not removed but marked as disputed on your credit file; fico will ignore the offending listing when calculating the credit score.

Other than that the only other option is to establish your credit via secured credit cards and maybe secured installment loans. DO you have any family members that would be willing to add you as an Authorized user of a credit card that reports to the bureaus and is on good standing? If you do, this card will report your family members history on your file and this can increase your score.

[Depressed]

Hi Qtip, thanks for the help so far. I have to be careful as to the personal inquieres for financal help. Anytime I get a little money that my husband finds out about, I get blackmailed (take auto away) to hand it over. As he has no reliable income and I do, he has made life hell for my son(from another marriage) and I. All I want is to get an auto & auto insurance of my own. I just can't see how to do it. I have been trying. I just can't afford it. Then again if I could my husband would say ' If you got enough money for that then you have enough money to give me for this.' I feel like I will never get away from this man at this rate.

In case you are wondering, NO he does not hit me. The bruises are only to my pride, selfesteem, emotions, and selfworth.

[Hedwig]

Your major problem is more the lack of current accounts than the charge-offs. If you can get a card, use it for your regular purchases and then pay it off (go make payments several times a month if need be), you will establish good credit.

The problem you have is that no current accounts doesn't show you can handle money. If you can't get an unsecured card, a secured one will at least get you some credit established.

Open an account at a bank he doesn't know about--maybe an online bank. You need to find a way to get money that he doesn't have access to. If your employer will do it, have the money deducted directly from your salary and sent to another bank or credit union directly.

[hannah]

Originally Posted by Depressed

Hi Qtip, thanks for the help so far. I have to be careful as to the personal inquieres for financal help. Anytime I get a little money that my husband finds out about, I get blackmailed (take auto away) to hand it over. As he has no reliable income and I do, he has made life hell for my son(from another marriage) and I. All I want is to get an auto & auto insurance of my own. I just can't see how to do it. I have been trying. I just can't afford it. Then again if I could my husband would say ' If you got enough money for that then you have enough money to give me for this.' I feel like I will never get away from this man at this rate.

In case you are wondering, NO he does not hit me. The bruises are only to my pride, selfesteem, emotions, and selfworth.

Your problems appear deeper than credit issues. You are being emotionally abused and need to get away from him any way you can. If you are telling yourself that you are waiting to get a car to do so, you will never get away. Call a women's help center near you and let them help you.

[Depressed]

Hannah, There is more to my story than above. I am not looking for pitty or a hand out. My situation is no where as bad as many other womans, and for me to ask for help from a womans help center would take away resources from a woman who needs it more than me. All I am asking for is some solid tips to fix my credit mess sooner rather than later. Anyway, even if I used the resources from a womans center, I would still have to repair my credit to ensure a better life for my son & I. Trying to have an auto in my name is important as I live 20 mi away from my job where I make a good wage and MUST keep my son in the school he is in.

[Depressed]

Hedwig,
I do have an account he knows nothing about. I call it my 'getting the hell out of Dodge fund' I try to put in as much as I can each month. I will take Qtips advice and use some of that money to get a secured credit card. Can anyone give me an idea how long w/ secure or unsecure card it will take to boost my credit rating? And just how high do I need to get my credit rating before creditors will overlook my charge offs?

I am aware that with my bad credit it means I will have to pay more up front, but I will find a way to do it. Doing overtime, tight budget, ect.

I want to thank you all for your help so far. I am committed to getting all my financal tasks done to improve my overall life.

[Qtip]

Originally Posted by Depressed

Hedwig,
I do have an account he knows nothing about. I call it my 'getting the hell out of Dodge fund' I try to put in as much as I can each month. I will take Qtips advice and use some of that money to get a secured credit card. Can anyone give me an idea how long w/ secure or unsecure card it will take to boost my credit rating? And just how high do I need to get my credit rating before creditors will overlook my charge offs?

I am aware that with my bad credit it means I will have to pay more up front, but I will find a way to do it. Doing overtime, tight budget, ect.

I want to thank you all for your help so far. I am committed to getting all my financal tasks done to improve my overall life.

With your scores, I would consider some of the more forgiving credit unions, patelco might be a good start for you. I think that you can get some subprime stuff once you hit the 640 area, prime around 670 on up.


Patelco Credit Union - -

Become a member and apply for one of their cards, you can also try Penfed but they require a little more than Patelco in my opinion, the good thing with Penfed is that once you apply for their products they will use the same credit file for up to three months if you apply for other products. You want to avoid getting allot of inquiries on your file if you can.

Try to apply for credit cards or loans that pull Equifax on your state, Equifax allows you to dispute inquiries and they usually delete them the same day!

www.penfed.org