A foreclosure is a major derog that will keep your scores in a "dirty bucket" until it falls off. Once it's gone, you will have room to grow.
Your math is correct. No, I am not looking to make a major purchase but should a home become available, I would like to maybe get a home. No problem getting vehicles because I have a great bank relationship and they give me low interest rates. I guess the main thing is joining the 760 or 800 club so I won't have to sweat it when trying to get a new good credit card.
Thanks Shogun. About how many points will I get with that clean bucket? I realize there are lots of variables but do you think 20 points might happen?
I believe that's quite possible, and when the CO falls off, presuming that's your last baddie, you may see it skyrocket. I got my last CO off and shot up 80+ points.
Thanks for the great encouragement Shogun. Nope, after the CO is gone, I will be totally clean. I'm too old to mess it up again I and stay on top of my finances now. I have 7 credit cards and only carry a balance on one at a time but use all of them. I pay in full a few days after charging. Do you think it is unwise to keep a 2 or 3 percent utilization or should it be 0% utilization? I thought it might help to let a couple of the cards make a few bucks off of me a year.
I also had a CO deleted from about the same age as yours and a judgement and i went up over 90 points went into the clean people bucket. For me I have to pay off high cards now due to repairs and slow ins. companies re: the storm and get backdating with amex. for age of accounts then hopefukly I will skyrocket too.!! Just be patient and keep trying anyone with the chargeoff. One letter email or call a week nothing ventured nothing gained. Good luck keep us aprised.
Good luck with your credit card utilization. Sounds like you could use a card with a high credit limit to help you out. If you were in the military or you have a family member that was in the military, I have a card to suggest that is liberal in their credit limits. Thanks much for the advice.
Google USAA. CAll them to see if you qualify. They are very easy to talk with and very friendly.