Booner72 Tracker

Re: Denied no 2012 return processed

Booner72 — Thu, 23 May 2013 17:39:17 GMT

When we were getting the mortgage I found out in July that I had not filed for the previous year. I had paid what I owed but failed to hit the "submit" button on turbotax.

I just quickly filed electronically and then called every day to see if they had processed tax transcripts yet. They did it in just over a week. It shouldnt take them until July if you filed electronically.

Re: Amex platinum not so impressive anymore

Booner72 — Tue, 21 May 2013 18:18:29 GMT

I don't know about anyone else, but my credit union Visa has rewards to get cool stuff (trips, airline miles, stuff) and the interest rate is super low at 8.25% - well, relatively low compared to store cards, and since I have a 2005 BK I'm ineligible for any of the really cool cards. I'm happy with my Platinum Visa from the credit union and advise others to look into these not-mentioned-often credit cards.

Re: Walmart Closed - Still get the Score

Booner72 — Tue, 21 May 2013 18:16:01 GMT

I closed it a few weeks ago because my husband has a little problem using that card and not PIF'ing. We also closed Amazon (Because I was addicted to using that one) too. Made me sick to pay 30% interest. I think there were a couple others that we closed, too. I made a post recently about this if you are interested.

But anyway, the walmart score is the new one and it came up after I closed the account.

Re: How to proceed with a new auto loan

Booner72 — Fri, 17 May 2013 22:34:25 GMT

Hello! I would take them up on that 2500 dollar deal Asap because you will pay way more than that in interest for years to come with that low of an AUTO enhanced score.

What's up with the house?

love, booner

Should I do it?

Booner72 — Fri, 17 May 2013 22:29:51 GMT

In 2011 I bought a 2006 Subaru Forester. it has about 76K miles and it is the base model with no bells or whistles at all. The seats are uncomfortable and the road noise is loud. My commute is 45 minutes each way, highway driving. I just refinanced it at 110% because I needed money for a roof - I owe about 14K which is a bit over blue book.

Low interest at 1.9%. This thing will run forever, I know.

The car is too small for the family - we can all barely fit in now that I have a giant teenage boy, and one other whose growing like a weed, too. The family car is the truck, so it's mostly just me driving it.

How long do I stick this out? I'm such a cheapskate when it comes to cars and always buy the best value and never a car I would really love. The plan was to just keep it until it's paid off and give it to my 11 year old when he's 16 but now I'm not sure I can live with it that long.

I can afford a bit of a higher payment, currently paying about 270a month, with GAP. Nothing i'm going to buy this month, but I'm needing advice on the plan.

Thanks!

Re: What to do w/old car - trade in? craigslist?

Booner72 — Fri, 17 May 2013 22:16:01 GMT

I sold my car on craigslist in one day. They took a test drive and they came back. I was given 1500 cash and we had so many people calling to come see it. I totally sold it for less than I could have but it had so many miles on it and things were broken. I think it's fine to meet someone at a public place, and as long as you have full coverage, if someone steals the car, then the insurance company can just write you a check. No, seriously, make sure they leave their child behind as collateral.

Re: Refi

Booner72 — Fri, 17 May 2013 22:12:46 GMT

Credit unions are great for refinances. We just refinanced down to 1.9% from 3.9 percent on one and 6.9 on the other. Saving us tons and they did loan me 110% so I had extra money to use to buy a roof.

Re: New grad needing help!!

Booner72 — Fri, 17 May 2013 22:01:52 GMT

Hello and I like your professor's advice. Too bad they don't teach that in HIGH SCHOOL!

My advice is as follows:

1. Write goodwill letters to remove the parking ticket collection.
2. Remove yourself from your father's CC account. If you are only an "authorized user" you can get this account off your reports. Call the CC company and tell them to remove you. You can also dispute the account directly with the credit reporting agencies as "NOT MINE" and they will then remove it after they find out you aren't on the account anymore.
3. GW letters the lates on the store card. Keep trying, never give up the GW letters.
4. NEVER NEVER NEVER EVER let your student loans go bad. If you haven't looked into IBR payments and you are eligible, I recommend them, or ICR - whatever you think will be best for your line of work. The student loan section here is full of wisdom.
5. Go open up two "secured" credit cards at a local credit union. These will report as regular cards and start to build good history. It doesn't matter if the limit is low, just be sure one reports a zero balance and one reports a small balance for optimal scoring. You can use them throughout the month but know what dates they report to the CRA's and have them paid by that date. You can take out 500 from that mutual fund for the secured cards because IMO, it's worth it, as long as you don't get any big penalties for taking out the 500.00. One secured can be 200 and one can be 300. Since it's secured, why wouln'd they let you get one?

Paying off your student loans fast or slow doesnt matter as long as they are paid on time every single month of your livelong life.

Lastly, if you have someone in your family who has xcellent credit, with an cc that has been open a really long time and has a low balance, ask them to put you as an Authorized User on that account. Tell them you don't need the account # or card or anything, you just want to piggyback off their credit. Just be sure they report authorized users to the CRA's (I know GEMONEY does...Lowe's cards, Carecredit, Amazon, many others.)

GOOD LUCK

Re: 70 point drop on Score Alert, not on Credit Report

Booner72 — Fri, 17 May 2013 21:54:46 GMT

Since you have the points and it's not showing up I wouldn't even worry about it.

Re: What's your day job?

Booner72 — Fri, 17 May 2013 21:50:48 GMT

I am a Release Counselor in a state prison.

Walmart Closed - Still get the Score

Booner72 — Fri, 17 May 2013 18:35:58 GMT

FYI

Re: Sick and Tired of scores running the world

Booner72 — Fri, 17 May 2013 18:32:27 GMT

I think those of us here are "up in arms" about it in the only way there is - by trying to learn how it works and play the game by their rules. There isn't anything that we can do about it other than this. Getting mad about things we can't change is a waste of energy. Your scores are very good. Be happy!

Re: WHICH WOULD INCREASE YOUR SCORE MORE??

Booner72 — Fri, 17 May 2013 18:28:53 GMT

I had over 14 collections and saw improvement only when the most recent was removed, and then when the last was removed. When I got my lates on an auto removed, I saw 53 points, the biggest jump ever. You will have to get all five removed, i think, to see anything, and it still won't be that great bc you still have the charge off. Good Luck.

Re: Will I be able to purchase a new home?

Booner72 — Fri, 17 May 2013 18:22:01 GMT

I think they might just factor your income w/o factoring in the unemployment - take your gross yearly and divide by 12.

This is my husband's situation, too (cement finisher) and that is why we didn't put him on the loan to begin with when we bought. We are looking at refinancing now, and if I need his income for DTI, we have to use him, otherwise, I won't because of this very issue.

Please post back and tell us what a LO says because I want to know the answer, too.

GOOD LUCK!

Re: Our story - buying home in another state, renting the first. Easy - no issues.

Booner72 — Fri, 17 May 2013 18:18:07 GMT

I am able to deduct PMI for taxes. Just in case people are wondering. i think it is an extension of a law but it could end at some time.

Re: IBR and "Family Size"

Booner72 — Fri, 17 May 2013 14:21:34 GMT

Sorry, All. I just answered my own question. According to the IBR Pay as you earn Repayment Plan Request Form (OMB No. 1845-0102)

"Family size includes you, your spouse, and your children (including unborn children who will be born during the year for which you certify your family size), if the children will receive more than half of their support from you. It includes other people only if they live with you now, they receive more than half their support from you now, and they will continue to receive this support from you for the year that you certify your family size. Support includes money, gifts, loans, housing, food, clothes, car medical and dental care, and payment of college costs.

Sheesh - Can I use my 21 year old stepdaughter in Florida since I have her on my health insurance? Guess not, she doesn't "live with me now."

I hope this post helps someone.

Re: IBR and "Family Size"

Booner72 — Fri, 17 May 2013 14:15:50 GMT

OK, Confused again - an online calculator I just used said NOT SPOUSE when I was counting family size.

It's me, DH, and 2 kids. We file separately. What is my family size for IBR?

I don't want to screw anything up because I'm in the public service forgiveness program. It's my only way out of this hell of debt and I can't lose that program!

Thanks

Re: Refinancing, Closing on May 24th.

Booner72 — Thu, 16 May 2013 16:58:49 GMT

PS: I see you are mid 650's? Where did you go for your refinance?

Re: Refinancing, Closing on May 24th.

Booner72 — Thu, 16 May 2013 16:58:27 GMT

What were your credit scores when you refinanced? I'm in this process (though I won't get nearly 30K back like you did! WOW!)

Anyway, my LO said today that 720 is best but 740+ is better. I don't think we will get there if we put DH on the loan and I think we need to this time due to DTI.

TIA!

Re: Judgement

Booner72 — Thu, 16 May 2013 16:56:50 GMT

File a "motion to vacate" form that you can find online.

I actually filled one out and mailed it w/ a letter to a judge in the county. She vacated the judgment for me (it was paid). It was gone pretty quickly.

They can also do a rapid rescore if needed once the judgment is off the CR's.