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Finally Debt Free!

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Established Contributor

Re: Finally Debt Free!

OP- Woohoo!!  That's wonderful, and your future self will be very grateful.

 

Awesome!!!

 

Starting Score:EQ 586 TU 527 EX 532
Current Score: EQ 655 TU 668 EX 669
Goal Score: 760- Last app 8/9/17


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Message 21 of 24
Valued Member

Re: Finally Debt Free!

Well what do you know. You guys were right: my Credit Karma Score dropped 15 points on both Equi and Trans. I was in the 700 Club (3 years post-bankruptcy) before I went on my debt shedding spree. I'm down to 685. Oh well, I probably won't need a credit score if I can keep my trend going (ironic saying something like that on a site like MyFico).

Message 22 of 24
Regular Contributor

Re: Finally Debt Free!


visionsdivine wrote:

Well what do you know. You guys were right: my Credit Karma Score dropped 15 points on both Equi and Trans. I was in the 700 Club (3 years post-bankruptcy) before I went on my debt shedding spree. I'm down to 685. Oh well, I probably won't need a credit score if I can keep my trend going (ironic saying something like that on a site like MyFico).


Congrats on being debt free!!  I'm right behind you.  I just have my student loans ($12k) and auto loan ($25k) left and that should take me less than 36 months.  

 

Even though I am in the process of rebuilding my credit because I was recently discharged from a CH13 BK, once I am debt free - I could care less what my credit score does!  LOL!!  And I second that a mortgage can be a burden vs a blessing sometime.  But if you go the cash route, it most definitely will be a great blessing!!

Message 23 of 24
Frequent Contributor

Re: Finally Debt Free!


visionsdivine wrote:

Well what do you know. You guys were right: my Credit Karma Score dropped 15 points on both Equi and Trans. I was in the 700 Club (3 years post-bankruptcy) before I went on my debt shedding spree. I'm down to 685. Oh well, I probably won't need a credit score if I can keep my trend going (ironic saying something like that on a site like MyFico).


Congratulations on being debt free! Having a decent credit score is something that can sometimes be useful in ways you don't expect (car insurance rates, for example), so it's a good idea to have a revolving account (credit card) or two to maintain it, even if you don't use them much. But your score will jump up again after the bankruptcy clears off.

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FICO Scores: TransUnion 775, Experian 797
Message 24 of 24